Americas: Transparency Goes Global
According to a PricewaterhouseCoopers benchmarking survey, 85 percent of U.S. pharmaceutical companies have implemented a system to track and report what they spend on healthcare professionals, as required by the Open Payments section of the Affordable Care Act. But just 15 percent have a system for reporting this information on a global level.
As Melissa LaFrain, senior manager, corporate compliance, Wright Medical Technology, said during a session at the 2014 Pharma Forum, held in March in Orlando and co-organized by MeetingsNet and CBI, the Sunshine Act was big, but “the bigger story is global transparency—and it’s coming.” Here are some key considerations she shared.
Pick Your Model
When it comes to transfers of value between pharma companies and HCPs, companies can settle on a single approach and apply it to meetings planned anywhere in the world, or they can leave it up to the locals to determine what is and is not permissible in their locale.