KEY INGREDIENTS TO SUCCESSFUL CMS OPEN PAYMENTS REPORTING & STATE REPORTING
One of the challenges facing commercializing Life Sciences companies is the lack of internal staff support in key areas of Compliance, Finance, and IT.
Harmony Biosciences utilizes Alanda’s Commercial Compliance suite in the following areas:
- U.S. Federal & State Reporting
- Spend Monitoring
- Spend Analytics
Spotlight on Harmony Biosciences:
Harmony Biosciences is a commercial stage pharmaceutical company headquartered in Plymouth Meeting, PA. The company was established in October 2017 and is focused on providing novel treatment options for people living with rare neurological diseases who have unmet medical needs.
OVERVIEW
When looking at solutions to meet it’s Federal Sunshine & state Reporting obligations, Harmony turned to Alanda’s Commercial Compliance Suite, specifically our Global Transparency Reporting solution. The main decision criteria for choosing a Federal Sunshine & State Reporting solution, were to automate the process with SAP/Concur and limit the strain on internal IT resources.
CHALLENGES
- Data providers unsure what information is required for spend data.
- Time-consuming manual processes, such reviewing and editing data in excel spreadsheets.
RESULTS
- Provided baseline General and Research Templates utilized by several data providers showing instructions and required fields.
- Established validation and enrichment rules within Alanda to reduce manual processes.
- Leveraging Alanda’s SAP Concur Spend Connector integration that saved time and reduced risk.