SpendMate, a healthcare compliance transparency tool within the Cresen Solutions suite, simplifies the end-to-end process of transparency reporting. Developed in collaboration with life sciences and pharmaceutical customers, SpendMate enables companies to meet the increasing demand for transparency in industry-medical provider relationships through efficient report preparation, generation, and submission. It offers scalability as companies expand globally, excelling in guiding healthcare companies through complex compliance requirements.

Spend Reporting Simplified

Healthcare companies engage in various transactions with medical professionals and organizations, such as service fees and travel expenses, mandated to be reported and disclosed publicly across applicable countries. These regulatory requirements vary by jurisdiction and involve intricate business rules to determine reportable transactions. Manual reporting methods are error-prone and time-consuming for compliance teams, particularly with high transaction volumes.  SpendMate simplifies spend reporting with flexibility and scalability, supporting clients in meeting compliance obligations with external entities. Recently implemented at a top 10 pharmaceutical company, SpendMate’s reporting module enhances control and configurability compared to previous systems. Its user-friendly interface and configurable business logic engine allow seamless adjustments to attributes and rules without affecting legacy data. SpendMate’s customizable forms and templates are tailored to align with each client’s specific needs, facilitating the importation, processing, validation, and reporting of data from various engagement management systems.

Operating globally across diverse jurisdictions requires effective user and permissions management. SpendMate categorizes roles into Administrative, Data Coordinator, and Data Entry, ensuring secure access and data management. Administrative accounts oversee all functionalities, including system administration and configuration, while Data Coordinators manage transaction editing, verification, and country-specific reporting. Data Coordinators are assigned to specific countries to enhance data security, limiting access to designated country data and reports. Vendors are granted Data Entry roles for specific transaction entries in commercial and research engagements, with flexible user role adjustments facilitated by administrators during workforce transitions.

SpendMate’s versatile reporting module supports various compliance reports including EFPIA, European Local Law, CMS, and country-specific reports (e.g., Australia, Mexico). It adapts easily to evolving regulatory landscapes with configurable templates and business rules adjustments, enabling multi-language report generation and user-defined reporting timeframes. SpendMate empowers clients to define reportable interactions and professional types through customizable country and report type mappings.

Validation and Collaboration

For validation purposes, SpendMate features a comprehensive data validation toolkit with specific tabs for each validation step. It includes overview screens for transaction breakdowns, consent validation for missing information, and customizable validations based on client needs. Validation files generated with each report detail transaction inclusion and exclusion reasons, aiding quick resolution of discrepancies through mapping configuration adjustments. Saved reports within SpendMate facilitate team collaboration and historical data access, eliminating redundancy in report generation. Reports are categorized as “Final” upon publication, with associated transactions tagged and tracked for subsequent validation processes. SpendMate’s audit trail capability archives all system activities, facilitating compliance audits and tracking of value transfer updates.

Conclusion

SpendMate simplifies global compliance transparency reporting by supporting healthcare companies across all reporting phases. Its adaptive nature and flexibility enable clients to navigate compliance reporting challenges effectively. For more information on our support for European local law reports, please consult our whitepaper. To access our compliance website for country-specific information, contact us at [email protected]. Learn more about Cresen Solutions and our flagship products, MonitorMate and EngageMate, by visiting https://cresensolutions.com/. Explore our free PowerCMS tool on the website for innovative analysis of Open Payments data. Join us to experience the full spectrum of solutions Cresen Solutions offers for your compliance team.

Click here to learn about how we helped a company save hundreds of hours and thousands of dollars.

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Engaging healthcare professionals (HCPs) and other service providers within the life sciences industry presents a myriad of challenges. From navigating intricate compliance regulations to managing complex workflows and interactions across departments, the process of HCP/O engagement is often fraught with inefficiencies and errors. Traditional methods of tracking engagements, such as spreadsheets and emails, are no longer sufficient in an age dominated by big data and stringent reporting requirements. As such, there is an urgent need for a solution that streamlines the HCP engagement lifecycle, ensuring compliance, efficiency, and accuracy at every step.

Engaging a service provider is often a lengthy process with many moving pieces and interactions between departments. During that time, the Compliance department attempts to keep track of and approve all activities and service providers to ensure compliance with external government regulations and internal company policies. The HCP engagement process involves various workflows involving reviewers from across the company. As an added layer of complexity, the events can be held around the globe with service providers from many countries, all of whom need their respective cross-border workflows. While it is possible to track the engagement process via spreadsheets, word documents, and emails, this can be messy and error-prone. In today’s age of big data and required government reporting, the difficult task of manually tracking engagements is quickly becoming impossible. Now, more than ever, it is essential to have an easy-to-use system where a company can track and manage activities, approvals, and FMV tiers and rates in one place.

The HCP engagement lifecycle encompasses a series of crucial steps, each demanding meticulous attention to detail and adherence to compliance standards:

1. Annual Planning: This phase involves capturing all activities planned for the year, aligning them with strategic goals, and establishing performance metrics for tracking and evaluation.
2. Needs Assessment: Activity concepts are captured, reviewed, and refined to ensure alignment with business objectives and compliance requirements.
3. Nominations: Service providers are assigned to activities, undergo fair market value assessments, debarment screening, FMV exception requests, and are reviewed for suitability for that activity.
4. Contracting: Contracts are generated, reviewed, and signed, either within the engagement platform or through integration with dedicated contract systems.
5. Content Management: Documents and activities-related materials are uploaded, reviewed, and annotated, ensuring compliance with regulatory standards in a dedicated system or within the engagement platform.
6. Activity Execution: This is when the event will occur.
7. Payments and Closeout: Spend data is captured, invoices are generated, and payment reconciliation is facilitated, ensuring transparency and compliance with reporting requirements. All information is stored for future reference or audits.

EngageMate’s Solution

EngageMate is an elegant system to streamline and simplify the HCP engagement lifecycle. Built on a flexible framework, EngageMate offers modules tailored to meet the unique needs of every company, ensuring seamless integration and comprehensive functionality:

• Annual Planning: EngageMate’s adaptive nature empowers companies to transition from traditional, paper-based annual planning processes to a dynamic digital platform. By linking activities created during the year to the annual plan, it is easy to track progress and metrics.

• Needs Assessment: Through the integration of customizable business rules, EngageMate ensures the thorough and consistent capture of activity concepts during the needs assessment phase. By enforcing compliance standards and data accuracy, EngageMate enhances the quality of information submitted for review, Reducing the amount of time reviewers spend asking submitters for updates.
• Nominations: Leveraging modern architecture and API connectivity, EngageMate seamlessly integrates with existing customer master programs. This integration ensures only the most up-to-date information is used for activities and reporting. If you don’t have a centralized Customer Master EngageMate is capable of storing all your customer profiles.

• Contracting: Most information needed for the HCP contract is captured in EngageMate during the concept and nomination stages. If you already have a dedicated contract system EngageMate can connect to it and share the needed information to generate the contract. Contracts can also be generated in EngageMate and sent for electronic signatures, completed contracts are stored with the appropriate activities.

• Content Management: If needed EngageMate provides a robust content review system, allowing users to upload, review, and annotate documents. This approach facilitates collaborative document management, with all documents attached to the activity they will be used in conjunction with.

• Review and Approval: With customizable workflows and automated notifications, EngageMate simplifies the review and approval process. Companies can configure sequential, parallel, or user-selected reviewer workflows based on the preferred business process, ensuring a full yet efficient engagement review process. Workflows can be set up by different countries, activity types, amount of risk, product, department, and even budget thresholds.

• Activity Execution: – On the activity start date, the system can move the activity to track when the activity should be happening. After the end date, the system automatically moves the activity to close-out.

• Payments and Closeout – Once an activity concludes, there is the critical task of capturing spend to ensure accurate transparency reporting, and EngageMate offers multiple avenues to accomplish this. Users can manually enter the paid amounts for nominated service providers and attendees. Alternatively, EngageMate seamlessly integrates with finance systems, automating the process of populating invoices for review before they are processed in the finance system. Once payments are made, information is transmitted back to EngageMate, enabling real-time tracking of spend against estimated costs within the activity. Additionally, for activities where invoices are generated within EngageMate, a dedicated HCP/O portal provides healthcare professionals with direct access to review their invoices, contracts, profile information, and activities.

Finally, while not part of the HCP engagement lifecycle, the system can capture external grant requests. The requestor will submit login credentials and create a profile. Once in the system, they can fill out any external grant request. This is then assigned a grant coordinator and reviewers, then finished with closeout and outcomes management.

In conclusion, EngageMate is a transformative solution for HCP/O engagement, offering unparalleled efficiency, compliance, and user experience. By leveraging advanced technology and intuitive design, EngageMate empowers life sciences companies to navigate the complexities of HCP/O engagement with confidence and ease, driving enhanced business outcomes in an ever-evolving healthcare landscape. As the industry continues to evolve, EngageMate standas ready to adapt and innovate, providing life sciences companies with the tools they need to succeed in a competitive and dynamic environment.

Visit our EngageMate page here -> https://cresensolutions.com/solutions/engagemate/

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THE CHALLENGE

A medical device company was buried in a manual expense reporting system, leading to chronic budget overruns and a lack of control.  Their reliance on spreadsheets and manual processes made data collection, reporting, and accuracy a constant struggle, hindering their ability to effectively manage spending and ensure compliance.

THE INTERVENTION OF CRESEN SOLUTIONS

We knew this company needed a complete overhaul of its expense reporting system. Enter SpendMate and EngageMate, our dynamic duo of expense management solutions.

• SpendMate: Streamlined global expense reporting, allowing them to proactively manage spending and prevent overruns before they even happened.
• EngageMate: Took cap management to the next level, ensuring expenses stayed within approved limits, leading to significant cost savings.

THE IMPACT

The results were nothing short of transformative:

• Time Saved: Cresen Solutions’ solutions slashed the time spent on data collection, report generation, and data review by a staggering 800 hours per quarter (over 3,200 hours annually). Imagine the possibilities with that kind of time freed up!
• Accuracy Assured: The company gained unshakeable confidence in the accuracy of their expense reports, eliminating data integrity concerns.
• Cost Savings Soared: Reduced activity overspending and improved employee efficiency resulted in substantial cost savings, giving them more breathing room financially.

 DEEPER DIVE

Here’s a closer look at the problems with their existing SharePoint-based process:

• Manual Mayhem: Data from each source system per country was painstakingly collected by hand via Excel files. Uploading this data to a central location was another manual slog.
• Error-Prone: The process was prone to errors: missing data, recipient issues, and invoice/payment discrepancies. Manually remediating these issues added complexity and time.
• Limited Capacity: SharePoint’s inability to hold more than a quarter’s worth of data necessitated regular archiving, introducing even more manual steps.
• Visibility Vacuum: The lack of a user interface for data management made identifying issues and generating reports difficult. This limited transparency led to compliance concerns.

CONCLUSION

Our client’s story is a testament to the power of automation and streamlined processes. By replacing their outdated system with Cresen Solutions’ innovative tools, they gained control over their expenses, saved valuable time and resources, and achieved superior data accuracy.

Ready to transform your own expense reporting system? Contact Cresen Solutions today and let us help you achieve similar success!

Contact

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Cresen Solutions developed MonitorMate to enable our clients to easily assess global risk, create a calibrated monitoring plan, and track the execution of compliance monitoring and associated remedial events. The system is designed to automate the monitoring process of any company’s unique business need – from the risk assessment to the corrective action tracking for issues identified throughout the monitoring process. Additionally, the system has an automated workflow and email notification capability that eases the monitoring and remediation process of the company.

Risk management, auditing, and monitoring processes allow Life Science companies to conform with state and federal regulations while enabling them to also align with relevant internal policies and procedures. Within most companies, the global compliance department identifies potential risks through the execution of their ongoing monitoring process. Assessing the risk enables the organizations to identify weaknesses within the internal controls and identify policies and procedures that should be corrected. Companies can then take necessary corrective actions which ultimately can reduce the number of high-risk issues in the future. Additionally, the compliance department must monitor and document business events and interactions. Most companies lack flexibility and sophistication in identifying and mitigating their risk areas, monitoring, and auditing phases. The majority of these details are often tracked through Excel sheets, which can be cumbersome and prone to human error. This manual tracking process becomes even more complex when the compliance teams are located across the globe in regions with varying international laws. Now, more than ever, it is essential to have a refined system where companies can conduct a risk assessment, track monitoring, and remediation details, and easily assess the corrective measures.

MonitorMate is a refined system that seamlessly resolves many of the challenges associated within the risk monitoring lifecycle. Cresen Solutions prides itself on the satisfaction of our clients and the resulting associated improvements in business practices gained by switching from an outdated Excel-based approach to MonitorMate. The system uses a simple question-based approach to evaluate global risk. The calculated risk value is then split into different ranges with corresponding colors which allows users to easily identify the activities with increased risk. MonitorMate supports single sign-on (SSO) and can also be integrated with different company source systems like an HR employee feed or a field-based sales roster

Where MonitorMate really shines is in the flexibility of using its sophisticated rules engine. This allows for business rules to be implemented within the system without hardcoding and business interruption. With the rules engine, questions can be required, disabled, hidden, or populated with a default value either by themselves or based on another question’s answer. Changes in the rules engine, or the configuration of forms and questions, can be seen in real-time.

MonitorMate provides users with a comprehensive set of dashboards – accessible to all levels of the organization – to facilitate the real-time monitoring remediation and escalation of data captured within the system. For example, dynamic visuals such as heat maps are created with real-time data that helps the users to visualize color-coded risk ratings to quickly identify risk severity. Dashboards, and sensitive or targeted information, can be aligned to different user roles created within the system, based on specific client requirements. In many companies, compliance organizations can have large geographically dispersed structures with different roles and regions – within MonitorMate we can customize the logic and associated dashboards to allow users restricted access to specific and relevant data for their regional and/or role assignments.

Finally, any system must have the flexibility to support how users are created and assigned. Even in a small workforce, changes are inevitable. This problem is compounded as the user base grows; therefore, it is paramount to have a process in place to accommodate these personnel changes. MonitorMate allows user profiles to be easily managed by an administrator role. Administrators can add and remove users, limit the user to a specified region, change their assigned region, and change their role in the system. For example, a “monitor” role can assign an activity to multiple reviewers, which allows for the workflow to never get “stuck” waiting for someone’s action while a reviewer is out of the office.

One of our recent clients had a specific business need that no other monitoring platform could effectively support. We developed a solution that catered to our client’s needs and allowed them to better capture their rep-ride monitoring data. This not only highlights MonitorMate’s flexibility to accommodate specific business needs, but it ultimately resulted in a more sophisticated approach for capturing, analyzing, and identifying gaps in the field-based compliance monitoring process.

In conclusion, MonitorMate is a simple, yet powerful tool focusing on usability and flexibility that solves the problems presented by the Risk Monitoring lifecycle. It is uniquely designed to comprehensively assess, monitor, and evaluate global risk within a company. To learn more about Cresen Solutions and its other Flagship products, EngageMate and SpendMate, we encourage you to visit our website at https://cresensolutions.com/. Here you will also find our free PowerCMS tool, a dashboard that allows you to analyze the Open Payments data in a unique and innovative way. Sign up for free and get a taste of what Cresen Solutions can do for you and your compliance team.

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EngageMate is an HCP/HCO engagements tool developed by Cresen Solutions that enables our clients to fully track HCP and HCO engagements throughout the entire life cycle. The system is designed to automate the business lifecycle of any fee for service engagement from business planning through close-out. It will also serve as the auditable system of record for all associated HCP/HCO fee-based contractual arrangements.  There are many problems to be solved in the engagement lifecycle, EngageMate shines in the way it solves these problems.

All life sciences companies hire health care professionals (HCPs), organizations (HCOs), and other service providers. Engaging a service provider is often a lengthy process with many moving pieces and interactions between departments. During that time, the Compliance department is attempting to keep track of, and approve, all activities and service providers to ensure compliance with external government regulations and internal company policies. The HCP engagement process involves workflow including fair market value (FMV) assessments and exceptions, activity concept reviews, nomination review and approvals, content review/approvals, monetary spend capture, and appropriate certification and activity close-out. As an added layer of complexity, the events can be held around the globe with service providers from many countries, all of whom need their own respective cross-border workflows. While it is possible to track the engagement process via spreadsheets, word documents, and emails, this can be messy and error prone. In today’s age of big data and required government reporting, the difficult task of manually tracking engagements is quickly becoming impossible. Now, more than ever, it is essential to have an easy-to-use system where a company can track and manage activities, approvals, and FMV tiers and rates all in one place.

EngageMate is an elegant system that solves all the problems associated with the engagement lifecycle. Recently, after an unsatisfactory experience with another engagement tool, a top pharmaceutical company returned to tracking their activities with emails, spreadsheets, and word documents. Cresen Solutions was then brought in to implement EngageMate. After gathering business requirements around workflow requirements, business rules, and input forms EngageMate was configured to meet all of the client’s policies and SOPs. EngageMate was integrated with their customer master to pull service provider information into the system, ensuring accurate Customer(HCP or HCO) details while limiting manual data entry. Review workflows were created for each region within the company enabling a smooth process for the activity to be reviewed by multiple departments and reviewers across the globe. After the workflows are completed EngageMate assures proper closure and certification processes aligned with company policy. EngageMate uses all the latest technologies and uses common open integration methodologies to enable easy interfacing with other company business systems.

From adding service providers to filling out forms and submitting activities, business users have enjoyed EngageMate’s responsiveness and ease of use. Most users were able to pick up the navigation and use of the system after one self-guided training session. Everyone, both “Submitters” and “Reviewers”, receive email notifications when an activity is ready for their action. The email provides an embedded hyperlink that takes users directly to the activity they need to take action on. Additionally, upon logging into EngageMate, users are presented with a simple landing page showing tiles that separate activities into distinct categories allowing users to see a filtered list of activities to find any activity they are looking for expeditiously. It also includes customizable dashboards that pull information from the system in real-time to provide metrics for activities, service providers used, approvals, and close-out alerts.

Given the ever-changing nature of the life sciences industry and government reporting, flexibility is a top priority for all Cresen Solutions’ product offerings, including EngageMate. It is easy to create and edit any of the system’s forms and needs assessment qualifications from the user interface, including quickly changing language translations. In the most recent implementation of EngageMate, the system is translated into Japanese, with the help of translation vendors and the users themselves. Cresen Solutions can accommodate changes or updates to the translations rapidly without downtime. Where EngageMate shines is in the flexibility of using its sophisticated rules engine. This allows for business rules to be implemented in the system without hardcoding and interruption. With the rules engine, questions can be required, disabled, hidden, or populated with a value either by themselves or based on another question’s answer. Changes in the rules engine, or the configuration of forms and questions, can be seen in real-time.

Finally, any system must have flexibility in how users are created and assigned. Even in a small workforce, changes are inevitable.  This problem is compounded as the user pool grows; therefore, it is paramount to have a process in place to accommodate these personnel changes. EngageMate allows user profiles to be easily managed by an administrator to add and remove users, change their assigned department, grant access to specific forms, and change their role in the system. Reviewers, or the administrator on the Reviewer’s behalf, can delegate their role to another Reviewer while out on leave. This allows for the workflow to never get “stuck” waiting for someone’s action while they are out of the office.

In conclusion, EngageMate is a simple, yet powerful tool focusing on usability and flexibility that solves the problems presented by the engagement lifecycle. It allows for the management of the entire engagement process globally. To learn more about Cresen Solutions and its other Flagship products, MonitorMate and SpendMate, we encourage you to visit our website at https://cresensolutions.com/. Here you will also find our free PowerCMS tool, a dashboard that allows you to analyze the Open Payments data in a unique and innovative way. Sign up for free and get a taste of what Cresen Solutions can do for you and your compliance team.

The post Taking the Risk Out Of Your Healthcare Engagements appeared first on Cresen Solutions.

SpendMate is a healthcare compliance transparency tool designed to streamline the end-to-end business process of transparency reporting. Like other offerings in the Cresen Solutions suite, SpendMate was created in partnership with our life sciences and pharmaceutical customers. SpendMate enables companies to meet the growing demand for transparency between industry and medical providers in the form of report preparation, generation, and submission.  It is cost-effective and it can easily scale with companies as they expand globally. Transparency reporting has complex requirements, and SpendMate excels in the way it enables healthcare companies to efficiently navigate these requirements.

All healthcare companies engage with medical professionals and organizations for various events and other engagements. Transactions from these interactions can include a service fee for speaking at an event, reimbursement of travel and accommodation expenses, and more. By law or code, these transactions must be reported in each country where applicable and be made publicly available. Since the governing body can change based on the country or region, the reporting requirements also differ. Another layer of complexity includes intricate business rules that are used to evaluate which transactions are reportable or not. While these reports can be created manually, doing so can prove error-prone and time-consuming for compliance teams. When dealing with large numbers of transactions, manually determining which are to be reported is both inefficient and generally considered poor business practice.

SpendMate simplifies the spend reporting process by providing the flexibility and scalability needed by our clients to meet the compliance demands of external entities. Recently, SpendMate’s reporting module was successfully implemented at a top 10 pharmaceutical company, providing greater control and configurability over their previous reporting solution. SpendMate provides efficiency in form and function by having a user-friendly interface that is driven by a configurable business logic engine. This provides the ability to add or remove attributes and business rules at any time without impacting legacy data. The key versatility of SpendMate lies within its fully customizable forms and templates, allowing Cresen Solutions to tailor the data entry forms and reporting templates to align with the needs of each client. Using SpendMate’s end-to-end process, data can be imported from various engagement management systems, processed, validated, and reported using the built-in reporting module.

When operating on a global scale across different countries, users and user permissions must be managed effectively. User roles within SpendMate are broken into 3 categories: Administrative, Data Coordinator, and Data Entry. Administrative accounts have access to all data and functionalities within SpendMate and can perform system administration and configuration. Data coordinators can create and edit transactions and submit them for verification as well as generate country-specific spend reports. To add a layer of data security, Data Coordinators can be assigned to specific countries and will only have access to the assigned country’s data and reports. Lastly, the Data Entry role can be assigned to vendors giving them access to specific forms to enter transactions for commercial and research engagements. Users and their roles can be quickly set up or adjusted by the admins, ensuring a quick transition during times of employee turnover.

One key area in which SpendMate excels is through its various activity management system integrations, allowing SpendMate to receive a constant flow of data in relation to new events and other engagements between healthcare companies, medical professionals, and organizations. The data received from these activity management systems is then cleaned and transformed before being displayed. To streamline the user’s access to SpendMate, single sign-on integrations are supported but not required. Users can review and validate the data within SpendMate and use its built-in reporting module to generate spend reports specific to each country.

To ensure the accuracy of medical professional and organization customer records, SpendMate has a partnership with Veeva Open Data and can integrate with other third-party vendors that maintain customer reference data to match the unique customer profiles. SpendMate can be configured to send a request to a client’s customer master using an API call, and the returned match responses will be displayed for the user to select the matching customer profile. Additionally, SpendMate supports automatic matching of the customer profiles if certain unique identifiers are present, such as the NPI number or other local identifiers. If duplicate customer profiles exist, SpendMate has the added functionality of merging and unmerging customers to address these issues.

One of the key features of SpendMate is its reporting module, which supports the European Federation of Pharmaceutical Industries and Associations (EFPIA) reports, European Local Law reports, and U.S Centers for Medicare & Medicaid Services (CMS) reports, Patient Organization (PO) reports, and other country-specific reports (Brazil, Colombia, etc.). Given that the healthcare compliance landscape is constantly evolving with new regulations and requirements being implemented, it is important that SpendMate can adapt to these changes.

As reporting templates and business rules change, the reporting module allows for easy configuration with very little or no development effort. The reporting module also gives users the option of multilanguage report generation at the country level. One of the input parameters to generate a report is the start and end dates, giving users the choice of the timeframe for their specific reporting output. For example, SpendMate reports can display monthly, quarterly, and yearly transactions or even those within specific date ranges.

Interactions between healthcare companies, medical professionals, and organizations can occur in a multitude of ways. For that reason, SpendMate allows our clients to determine which interactions are reportable and not reportable through business rules using mappings at the country and report type level. The same approach is applied to professional types, for example, a nurse might be reportable in Norway, but not in Switzerland, this can be easily handled through the mapping configurations of each country. For the purposes of validation, a validation file is automatically generated along with each report, following the same input parameters selected on the UI. Within the validation file are two key columns; if the transaction is included on the report and if not, the reason why it is excluded. The validation file can be used to quickly determine why certain transactions are missing from the disclosure report based on the reasoning provided. Users can also quickly adjust the mapping configurations to rectify the issue, if needed. SpendMate’s reporting module can also generate reports in different currencies and various numeric formats. SpendMate offers users the choice of prepending or appending a currency code to the amount as per their requirements.

The size of compliance teams can vary, therefore, SpendMate allows for the saving of generated reports within the application. Saved reports can be accessed by everyone on the compliance team thereby reducing the need to constantly regenerate new reports. Reports from prior years can be maintained within the tool and are available for any updates or if a refreshed report is needed. Lastly, SpendMate has an extensive audit trail capability that includes archiving/audit information on who generated which report, when it was generated, what the input parameters were, et cetera, allowing the compliance team to keep track of historical information and effectively respond to audit and exception inquires.

In conclusion, SpendMate is designed to simplify compliance transparency reporting on a global scale by supporting healthcare companies through every step of the process. SpendMate ability to adapt paired with its flexibility allows our clients to thrive in the ever-changing landscape of compliance reporting. To learn about our support of European local law reports, see our whitepaper. To gain access to our compliance website, a centralized location for country-specific compliance information, please email us at [email protected]. To learn more about Cresen Solutions and its other Flagship products, MonitorMate and EngageMate, we encourage you to visit our website at https://cresensolutions.com/. On this website, you will also find our free PowerCMS tool, a dashboard that allows you to analyze the Open Payments data in a unique and innovative way. Sign up for free and get a taste of what Cresen Solutions can do for you and your compliance team.

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We are thrilled to unveil our newest offering, LifeSciencesGPT!  LifeSciencesGPT is a revolutionary product engineered using artificial intelligence (AI) and ChatGPT technology to elevate and reshape compliance practices within life science.

LifeSciencesGPT Features:

• Email/Communications Monitoring: Harness the power of AI to ensure all communications are compliant and follow company regulations.
• Policy, Procedures, and Training Manuals: Easily access and understand company documentation.
• FDA Warning Letters, Regulatory Sanctions, and Settlements, CIAs: Effortlessly explains complex documents.
• Sanctions and Debarments: Seamlessly navigate through contracts with Healthcare Professionals (HCPs) and unveil cases involving debarred or sanctioned professionals.
• Question your Data: Ask questions directly related to your data.
• Integration with Cresen’s Compliance Digest: Effortlessly navigate transparency and reporting laws.

Unparalleled in the Industry

LifeSciencesGPT stands out by dedicating its attention to delivering tailored compliance solutions within the life science industry. This groundbreaking solution promises to herald a new era in the ever-evolving landscape of life sciences compliance.

Real World Impact

With LifeSciencesGPT, companies can unlock access to a tool that not only streamlines compliance workflows but also helps navigate compliance with regulatory mandates. Case studies lay bare its impact on optimizing operational efficiencies. ChatGPT’s disruptive influence ripples across diverse sectors, and for Cresen Solutions, integrating this technology is imperative.

“The launch of LifeSciencesGPT marks a turning point in the pharmaceutical compliance narrative. This pioneering solution is poised to change how companies navigate the complexities of regulatory challenges,” stated Neeraj Gupta, a seasoned expert with over 20 years of experience in pharmaceutical commercial compliance.

Security

We rely on the powerful Azure OpenAI GPT model to handle the complexities of natural language understanding and generation in LifeSciencesGPT. It is hosted on Azure’s dependable infrastructure, ensuring a robust and secure environment for our operations.

Security is a paramount concern, and we’ve taken rigorous measures to keep your information safe. Access to the GPT model is strictly controlled through secure OpenAI keys, granting entry only to authorized users.  We’ve gone the extra mile to safeguard your data’s privacy. Each client is allocated a unique set of OpenAI keys, guaranteeing that your information remains confidential and separate from that of other users. This approach offers peace of mind and reassurance that your data is handled with the utmost care and discretion.

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The Benefits of Using Cresen Solutions’ Trio of Products

Many companies in the pharmaceutical industry may be using internal processes or different vendors to meet their compliance needs. However, the use of all three of Cresen Solutions’ products can offer several benefits.

Firstly, the use of all three products can help to identify compliance risks more effectively. By using the MonitorMate and EngageMate products in combination, companies can automatically identify risky activities that require monitoring and remediation. It is necessary to need to identify predictors, like the amount associated with an activity or an HCP that is used multiple times throughout different activities. These predictors may also vary by activity. The AI module being developed by Cresen Solutions can assist in this process by using a client’s previously monitored and unmonitored activities as a training data set to train an algorithm which then will suggest which activities should be monitored. Once identified, the activity flows from EngageMate to MonitorMate, where it goes through a remediation lifecycle. The metadata of the activity also flows from EngageMate into MonitorMate, making it easier to track and manage the monitoring process.

Secondly, the SpendMate product can be used to generate various transparency and validation reports. Once the activity is executed, there will be spend associated with it, which would flow from EngageMate into SpendMate. This product provides end-to-end integration for cleansing and processing data, making it easier to generate transparency reports that comply with regulations.

Thirdly, the use of all three products can improve IT security. By having a single vendor that provides a unified solution, companies can better manage IT security risks. Cresen Solutions’ products use secure REST APIs to connect, which enables the information to flow securely between the products. This eliminates the need for companies to manage multiple vendors, reducing the risk of security breaches.

Lastly, by using all three products, companies can have a unified solution for all their compliance needs. All the “Mates” are designed to integrate seamlessly. Information flows between them, making compliance management more efficient. This eliminates the need for companies to manage multiple vendors or internal processes, leading to fewer headaches and less time spent on compliance-related tasks. Let’s be honest, who doesn’t want a little time back in their day?

Conclusion

In conclusion, Cresen Solutions’ trio of products, MonitorMate, EngageMate, and SpendMate, can help companies in the pharmaceutical industry achieve compliance more efficiently. By using all three products, companies can have a unified solution for all their compliance needs. The products are designed to integrate seamlessly, making compliance management more efficient. The AI module being developed by Cresen Solutions can assist in identifying compliance risks more effectively, and the SpendMate product can be used to generate various transparency reports. By using a single vendor for compliance management, companies can also improve their IT security. Overall, Cresen Solutions’ products offer a comprehensive solution to pharmaceutical companies’ compliance needs and assist them in tackling compliance and regulatory challenges.

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Cresen Solutions is a leading provider of tailored solutions for the life sciences industry. We are committed to delivering unparalleled results through our experience, quality, and innovation. Our flagship product, MonitorMate, is a risk management, auditing, and monitoring tool that helps life science companies improve efficiency and reduce costs. It streamlines processes, assists in upholding internal policies, and ensures compliance with regulations.

Recent Enhancement: MonitorMate has added a new document search functionality that integrates with ChatGPT technology. This allows users to ask questions about documents stored in their monitoring records and receive detailed responses within seconds. The functionality can also be used to search and interact with other vital documents saved in MonitorMate’s document repositories. Administrators can control who has access to the document search functionality.

AI’s Role in Communications Monitoring

In the era of AI-driven efficiency, Natural Language Processing (NLP) plays a pivotal role in email monitoring. NLP empowers companies to create algorithms that detect specific keywords or phrases that may violate company policies. By understanding the context of messages, NLP can also help organizations identify and prevent malicious emails from reaching their employees. This can help to protect organizations from data breaches, financial fraud, and other threats.

Communications Monitoring with MonitorMate

MonitorMate extends its innovation to communications monitoring, storing all company emails in a database. Machine Learning Algorithms flag potential policy violations, providing users with detailed views and facilitating issue categorization. The system offers automated workflows and email notifications for remediation. MonitorMate’s comprehensive dashboard aids real-time monitoring, remediation, and data escalation, customizable for different user roles and requirements.

Customization to Suit Your Needs

We understand that one size doesn’t fit all. Clients can tailor MonitorMate to their unique requirements, leveraging AI and NLP for compliance with legal and organizational policies while ensuring efficient service.

MonitorMate simplifies risk management, auditing, and email monitoring for the life sciences industry. Its integration of AI and NLP underscores our commitment to innovation, offering clients the tools to excel in a changing regulatory landscape. As organizations enhance compliance and risk management practices, MonitorMate stands as a valuable ally in achieving these goals.

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