As the compliance professionals in the pharma industry prepare for Federal and State reporting, qordata, a prominent name in the world of Pharma Compliance, introduces Federal Reporting Solution with Compliance Monitoring ahead of CMS Deadline. The move comes few months ahead of CMS Open Payments submission deadline in March 2020; which is possibly the most perfect time as all transparency related compliance professionals struggle to double-check their companies’ spending data to wrap up data collection for the year.
Federal Reporting solution by qordata is an all-in-one pharma and device compliance monitoring, analytics and disclosure reporting platform that would make loading, analyzing and reporting on manufacturers spending data smoother, more accurate and convenient.
Unlike other options in the market, qordata’s Federal Reporting solution is not just limited to reports compilation but instead it offers a 360-degree monitoring and analytics solution.
It includes following modules:
This helps you with data cleansing and loading to ensure your Open Payments reports are in line with Transparency/Sunshine act and all the state regulations.
qordata also offers 360 degree view of your spend data and allows you to spot outlier payments visually.
With qordata Federal Reporting solution you can now enjoy a number of benefits such as:
- Loading data from any source in any format of your choice.
- Physician verification with the built-in (NPPES) database or against the data provider of your choice (MedPro, IMS etc)
- Prevention of misreporting of transactions through built-in currency conversions so that your phone screen doesn’t flash with a scary “$850 Meal to an HCP???” message, ever.
- Mock reports in the accurate and complete CMS format so that you know precisely which transaction goes into which column.
qordata has served more than 30 pharma companies regarding their compliance requirements. qordata Compliance Solution suite has also been praised by a number of Compliance professionals.
"This solution offers 3 times the service than most other solutions in market for 1/3rd the price”
-Comments by senior compliance manager upon getting an early-access to the service.
I’m really happy with the product. I’m really happy with the service…Product updates are timely and helpful....I have already recommended you to the ENTIRE Northern Chicago Transparency [& Compliance] working group.”
- Senior Director, Ethics & Compliance
Upon the launch of Federal Reporting Solution, CEO of qordata, Mohammad Ovais expressed his views:
“Following the Sunshine Act and recent changes in the Open Payments Rule, compliance teams in pharmaceuticals have to carry a huge responsibility. They have to collect, compile and then report a very large volume of data and even a minor mistake can result in a big penalty for the entire pharmaceutical; Thus, we want to assist compliance teams in automating their job for far better accuracy, efficiency and visibility. Our product is designed to serve both the reporting obligations as well as compliance monitoring functions. We hope it will make Sunshine reporting far more convenient, easier and less risky for pharma and device compliance teams”
qordata is a compliance solution provider specializing in pharmaceutical, biotech and medical device industries. Their services enable pharma, biotech and device companies to operationalize the use of data-based decision and reduce risk making across business functions. qordata also offers a complete and concise Compliance Solution Suite for pharmaceuticals to ensure compliance with Federal & State laws across US and EU region.
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