Transparency in                   Physician Payments                   A ray of sunshine1   © 2012 WIPRO LTD | WWW.WIPRO.COM
HIGHLIGHTS     Transparency in Physician           Payments Leads to           Business Efficiency       As the life scien...
What is the Sunshine Act?                     What is Sunshine                                                            ...
Opportunity for Optimization     Life sciences organizations need to reinvent existing processes and systems to          a...
Preparing for the Future                           Aggregate spend management is a change                            that...
Considerations for Implementations        To implement a spend solution needs careful consideration of the            stak...
Business Benefits of Spend Optimization        Business insights        • The true value of aggregate spend information ca...
Conclusion                     In this zero tolerance environment the onus is                      on device manufacturer...
For more details please visit the link below:    http://www.wipro.com/Documents/transparency_in_physici    an_payments-lea...
About Wipro Council for Industry Research       Wipro set up the Council for Industry Research, comprised of domain       ...
About Wipro Technologies                   Wipro Technologies, the global IT business of Wipro                   Limited (...
Thank You                       ©Wipro Limited, 2012. All rights reserved.                       For more information visi...
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Transparency in physician payments

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As the life sciences industry prepares to comply with the federal Sunshine Act, and with other state laws already in place, there exist multiple operational and technical challenges.

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Transparency in physician payments

  1. 1. Transparency in Physician Payments A ray of sunshine1 © 2012 WIPRO LTD | WWW.WIPRO.COM
  2. 2. HIGHLIGHTS Transparency in Physician Payments Leads to Business Efficiency As the life sciences industry prepares to comply with the federal Sunshine Act, and with other state laws already in place, there exist multiple operational and technical challenges. The industry should not only focus on solutions for achieving compliance goals, but use this as an opportunity to analyze and optimize their promotional spends.2 © 2012 WIPRO LTD | WWW.WIPRO.COM
  3. 3. What is the Sunshine Act? What is Sunshine Who must Comply? Compliance? It requires reporting to the US - All Applicable Manufacturers Government all “transfers of value” - Medical Device Manufacturers by Life Sciences Organizations to - Pharma, Biotech and Others covered recipients. When is the Deadline? What is the Risk? Data should be collected from 90 There are penalties of $10000 for days after the final rule is each payment not reported subject published . The data collection to a maximum of $150000. The should commence from Jan ‘13 penalties for knowingly held and reporting should go public payments is capped at $1000000. from Mar ‘13. With most manufacturers having a global footprint and having to deal with global regulations, manufacturers need to invest in a holistic solution with configurable business rules and workflow for managing promotional spend.3 © 2012 WIPRO LTD | WWW.WIPRO.COM
  4. 4. Opportunity for Optimization Life sciences organizations need to reinvent existing processes and systems to adapt in the new environment and harness this opportunity to optimize. Function Benefit/Actionable Insight Holistic Perspective • Spend across various dimensions • Total spend on any individual HCP • Spend/HCP by therapeutic area • Spend/Brand, Spend/geography • Longitudinal analysis Competitive Benchmarking • HCP over/under- compensation • KOL spend effectiveness • Competitive intelligence • Fair Market Value for HCP Spend Effectiveness • KPI Dashboard • Effectiveness of HCP segmentation • ROI by sales rep, region,etc. • Sales rep performance Risk Monitoring • Control spend with set thresholds • Monitor promotional spend • Monitor risk of non-compliance Physician Notification & • Manage communications with physicians Dispute Resolution • Process oriented spend dispute resolution4 © 2012 WIPRO LTD | WWW.WIPRO.COM
  5. 5. Preparing for the Future  Aggregate spend management is a change that spans across the life sciences organization from Clinical, R&D, Compliance, Finance, Operations, to Marketing and Sales  To establish a watertight aggregate spend management solution that ensures compliance adherence and optimizes promotional spend; a well formulated approach involving people process and technology is needed  Whether to build or buy an aggregate spend solution depends on the maturity of existing processes, and commitment to investment5 © 2012 WIPRO LTD | WWW.WIPRO.COM
  6. 6. Considerations for Implementations To implement a spend solution needs careful consideration of the stakeholders involved and the existing standard systems. Data Sources Master Data Management Data Quality Reporting Analytics & Benchmarking Physician Relationship Management Basic Components for a Successful Implementation6 © 2012 WIPRO LTD | WWW.WIPRO.COM
  7. 7. Business Benefits of Spend Optimization Business insights • The true value of aggregate spend information can be derived from actionable insights gained through business intelligence applied on your and your competitor’s aggregated spend data. Risk Assessment • Once an appropriate aggregation and reporting system is in place, it is important for companies to have a dependable system to prevent compliance infractions through proactive monitoring and alerting measures. Competitive Benchmarking • Aggregate Spend reporting presents an opportunity to analyze the competitor s’ spend data against your aggregate spend data to benchmark and assess spend effectiveness across defined parameters.7 © 2012 WIPRO LTD | WWW.WIPRO.COM
  8. 8. Conclusion  In this zero tolerance environment the onus is on device manufacturers to quickly evolve to a process oriented and automated solution for managing aggregate Spend.  Manufacturers should also use this as an opportunity to analyze and optimize their promotional spending.  A well-designed aggregate spend solution would provide lasting business benefits of data driven insights, process efficiency, time saving, transparency, and risk mitigation.8 © 2012 WIPRO LTD | WWW.WIPRO.COM
  9. 9. For more details please visit the link below: http://www.wipro.com/Documents/transparency_in_physici an_payments-leads-to_business_efficiency.pdf9 © 2012 WIPRO LTD | WWW.WIPRO.COM
  10. 10. About Wipro Council for Industry Research Wipro set up the Council for Industry Research, comprised of domain and technology experts from the organization, to address the needs of customers. It specifically surveys innovative strategies that will help customers gain competitive advantage in the market. The Council, in collaboration with leading academic institutions and industry bodies, studies market trends to help equip organizations with insights to facilitate their IT and business strategies. For more information on the Research Council visit www.wipro.com/insights or mail wipro.insights@wipro.com10 © 2012 WIPRO LTD | WWW.WIPRO.COM
  11. 11. About Wipro Technologies Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognised globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over 135,000 employees and clients across 54 countries. For more information, please visit www.wipro.com11 © 2012 WIPRO LTD | WWW.WIPRO.COM
  12. 12. Thank You ©Wipro Limited, 2012. All rights reserved. For more information visit www.wipro.com No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation clients should take advise from their client engagement manager.12 © 2012 WIPRO LTD | WWW.WIPRO.COM
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