Stay informed with expert insights, trends, and best practices in life sciences compliance.
“Failure to report complete and accurate CMS Open Payments data on time can result in Penalties and Fines of up to $1,150,000.” What is CMS Transparency Reporting? CMS transparency reporting, also known as CMS Open Payments, is a program established under the Affordable Care Act. Life sciences companies, including manufacturers and group purchasing organizations (GPOs), […]
CMS Open Payments reporting stands out as a critical aspect of life sciences compliance that demands meticulous attention from compliance officers. It serves as a transformative force, driving a paradigm shift in how stakeholders perceive transparency, integrity, and accountability within the industry. Open Payments Reporting builds trust and empowers patients with insights into the financial […]
Monitoring compliance has become an imperative for life sciences companies. Considering that total penalties from compliance-related violations have crossed over US $50 billion since 2000, it is critical for compliance officers and life sciences organizations to plan, strategize, and implement robust compliance monitoring to detect risks before the regulatory authorities such as the U.S Department […]
“The CCO has a critical role in today’s complex business environment. They play a vital role in protecting the organization from reputational damage and legal liability.” ― Mary Jo White, Former Chair of the U.S. Securities and Exchange Commission (SEC) Who are Chief Compliance Officers? Chief Compliance Officers (CCOs) are tasked with the core responsibility […]
Life sciences companies have been one of the most regulated industries over the past 10 to 15 years, with a significant number of regulatory enforcements in total. In fact, the total penalties from compliance-related violations have crossed over $50 billion since 2000 in the U.S. Prevalent signals in both messaging and actions from regulators indicate […]
In today’s intricate regulatory environment, compliance isn’t just a requirement—it’s a dynamic challenge that demands a data-driven compliance solution. This article explores the transformative power of data in monitoring regulatory compliance within organizations. From adhering to stringent regulations such as the anti-kickback statute to OIG’s special fraud alert to identifying key risk areas within the […]
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