Global Transparency Reporting with Cresen’s SpendMate
SpendMate, a healthcare compliance transparency tool within the Cresen Solutions suite, simplifies the end-to-end process of transparency reporting. Developed in collaboration with life sciences and pharmaceutical customers, SpendMate enables companies to meet the increasing demand for transparency in industry-medical provider relationships through efficient report preparation, generation, and submission. It offers scalability as companies expand globally, excelling in guiding healthcare companies through complex compliance requirements.
Spend Reporting Simplified
Healthcare companies engage in various transactions with medical professionals and organizations, such as service fees and travel expenses, mandated to be reported and disclosed publicly across applicable countries. These regulatory requirements vary by jurisdiction and involve intricate business rules to determine reportable transactions. Manual reporting methods are error-prone and time-consuming for compliance teams, particularly with high transaction volumes. SpendMate simplifies spend reporting with flexibility and scalability, supporting clients in meeting compliance obligations with external entities. Recently implemented at a top 10 pharmaceutical company, SpendMate’s reporting module enhances control and configurability compared to previous systems. Its user-friendly interface and configurable business logic engine allow seamless adjustments to attributes and rules without affecting legacy data. SpendMate’s customizable forms and templates are tailored to align with each client’s specific needs, facilitating the importation, processing, validation, and reporting of data from various engagement management systems.
Operating globally across diverse jurisdictions requires effective user and permissions management. SpendMate categorizes roles into Administrative, Data Coordinator, and Data Entry, ensuring secure access and data management. Administrative accounts oversee all functionalities, including system administration and configuration, while Data Coordinators manage transaction editing, verification, and country-specific reporting. Data Coordinators are assigned to specific countries to enhance data security, limiting access to designated country data and reports. Vendors are granted Data Entry roles for specific transaction entries in commercial and research engagements, with flexible user role adjustments facilitated by administrators during workforce transitions.
SpendMate’s versatile reporting module supports various compliance reports including EFPIA, European Local Law, CMS, and country-specific reports (e.g., Australia, Mexico). It adapts easily to evolving regulatory landscapes with configurable templates and business rules adjustments, enabling multi-language report generation and user-defined reporting timeframes. SpendMate empowers clients to define reportable interactions and professional types through customizable country and report type mappings.
