Life science companies are struggling to understand the complex reporting requirements and compliance issues presented by existing and new regulations such as the Sunshine Act, provisions of which were included in the Patient Protection and Affordable Care Act. These laws are putting the public spotlight on healthcare provider (HCP) meetings and meeting-related expenses.
"There's been a lot of public scrutiny on meetings expeditures," said Kevin Iwamoto, Vice President, Enterprise Strategy, StarCite. Iwamato was speaking at a recent webinar titled Capturing HCP-Related Meeting Spend Doesn't Have to be Difficult
, which was hosted by StarCite -- a meetings management technology company. "There's been scrutiny due to the PhRMA Code, the Sunshine Act, and new EMEA (European Medicines Agency) global codes," said Iwamato. "All of these require life science companies to do strict tracking and monitoring of royalties, honorariums, speaker's fees, entertainment and travel costs, etc."
This article is a summary of the StarCite Webinar, which defined what pharma marketers and meeting planners need to know when it comes to meetings-related HCP reporting.
Topic headings include:
- How Much Does Pharma Spend on Meetings?
- Get Ready to Mitigate Your Risk
- PhRMA's Code and State Laws
- Meeting and Event Spend per Attendee Break Down by Industry (chart)
- Review of the Physician Payment Sunshine Act
- Case Study: Millenium
- Integration with CRM Systems
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