IMS Launches Integrated Regulatory Compliance Solution For Pharmaceutical And Medical Device Companies

IMS Health (NYSE: RX), the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced the launch of IMS Aggregate Spend Compliance Services, a comprehensive set of solutions to help pharmaceutical and medical device companies comply with the growing number of federal and state transparency and marketing disclosure laws in the U.S., known as “aggregate spend” reporting regulations. IMS’s suite of information and advisory services enables clients to implement a fully integrated monitoring and reporting compliance infrastructure – providing an accurate view of their promotional spend associated with healthcare professionals. The services leverage the best-in-class compliance application platform of R-Squared Services & Solutions, a leading developer of evidence-based compliance solutions for the healthcare and life sciences industries.

“Tracking and monitoring the total promotional spend to healthcare providers is a difficult operational challenge that many life sciences companies struggle with daily,” said Don Otterbein, IMS general manager, Business Transformation Services. “ IMS Aggregate Spend Compliance Services enable our clients to align and manage professional and organizational information across disparate systems and functions – effectively addressing the complexities in data capture, standardization and integration. Our solution also includes a flexible and scalable reporting system, allowing for quick response to evolving regulations and reporting requirements.”

IMS Aggregate Spend Compliance Services bring together the powerful capabilities of the IMS Business Transformation Services organization, which leverages the company’s expertise in business and compliance technology; IMS Healthcare Relational Services™, which combines the company’s industry-leading reference data and advisory services for an accurate view of healthcare professionals; and R-Squared’s SpendTracker ^® software, a flexible, scalable platform that can be augmented as regulations change – delivering custom reports to satisfy companies’ internal policies.

Since 2006, more than 20 states have introduced legislation requiring pharmaceutical and device manufacturers to disclose various financial transactions or exchanges of financial value to healthcare providers and affiliated healthcare organizations. Similar legislation has been introduced at the federal level.