Partner with compliance experts to create, implement and manage efficient, end-to-end processes that ensure your organization is compliant with global engagement and transparency regulations and codes.
Compliance data is an underutilized resource in the life sciences industry — but it shouldn’t be. Tools that support the relational analysis of disparate data, position compliance departments at the leading edge of a new landscape of ideas and innovations in data utilization. As a result, this data is key to unlocking insights that can transform not only compliance operations, but enterprise-wide strategy.
A silver lining to the ever-increasing regulatory scrutiny of life sciences engagements with HCPs and HCOs is that those collection and reporting requirements yield a trove of data that can be leveraged for increased visibility into HCP interactions and the spending patterns associated with those touchpoints.
At the nexus of information and analysis is human data science — a discipline that blends industry-leading consultative expertise and world-class technology to turn compliance analytics into a competitive advantage. Life sciences companies that position themselves to be early adopters will be ahead of the curve.
Implement a three-step process to effectively harness the power of this resource.
Create a process management strategy: Companies must make sure to accurately capture and report a cross-section of data points. A solution that embeds risk evaluation in review processes along with traditional live and transactional monitoring gives compliance professionals a comprehensive overview of key risk indicators on an ongoing basis.
To achieve more responsive and nimble compliance management, establish a workflow and develop a platform comprising the following key elements:Remain dynamic: Throughout the development process, compliance monitoring needs to be a flexible process for information to be leveraged to its full potential. Compliance solutions must be integrated and consistently updated with accurate HCP/O information. Data is no longer static, so management needs to seek out agile, world-class technology to effectively capture the value that can be harnessed with AI-assisted analytics.
The great promise of human data science is two-fold. It offers the ability to unlock value in the form of actionable insight benchmarks, as well as the ability to facilitate connectivity between platforms: CRM, expense management, promotional speaker contracting and content programming, logistics and other discrete business functions.
The consultative focus of IQVIA’s benchmark-establishing expertise leverages next-generation analytics and machine learning to create a holistic compliance risk perspective. IQVIA HCP/O Engagement Management streamlines the end-to-end engagement process—with embedded compliance, while IQVIA Transparency Reporting aggregates all HCP/O spend for accurate reporting across regulatory data formats.
Managing compliance risk has never been about a single workflow or static set of best practices, and that axiom is — now more than ever — an enterprise-wide imperative for companies.
To learn more about how connected intelligence can deliver valuable insight from compliance data, download our newest white paper here: https://www.iqvia.com/library/white-papers/turn-insight-into-action-with-connected-intelligence.
Partner with compliance experts to create, implement and manage efficient, end-to-end processes that ensure your organization is compliant with global engagement and transparency regulations and codes.
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