Aggregate Spend Compliance Database - SpendTrackPRO
Tracking Aggregate Spending with PrescriberPRO
Several states, including Massachusetts, Vermont, West Virginia and Montana, are currently requiring healthcare and pharmaceutical organizations to track their spending on healthcare professionals. The Sunshine Act will soon be implemented on a federal level and will greatly increase the burden of reporting on the healthcare industry. SpendTrackPRO offers a solution to minimize the difficulty in building such a tracking system.
A comprehensive healthcare marketing database of providers and influencers is an effective and cost-efficient tool to assist pharmaceutical companies, medical device companies and their service providers in tracking expenditures to healthcare professionals and healthcare organizations. Healthcare Data Solutions consults extensively with each unique client to design the best solution to meet their spend tracking needs. Industry experts and practitioners of master data management alike recommend that internal databases be compared to, and corrected by, reliable business intelligence providers like HDS.
HDS’ PrescriberPRO database meets all the needs of compliance, aggregate spend tracking, sales and marketing. It also provides a wealth of data from validated and practicing Physicians, as well as all licensed healthcare professionals. Compliance gets the data they need to accurately track spend. Sales and marketing get accurate data and contactable Physicians at confirmed practice locations.
With Healthcare Data Solutions’ comprehensive, accurate and up-to-date Prescriber databases, healthcare organizations can build an accurate and consistent spend tracking system that meets the reporting requirements of the Sunshine Act. As transactions are processed, client records are automatically or manually matched to the PrescriberPRO database. HDS’ unique and persistent ID for each Prescriber then allows for roll-up for healthcare providers at multiple locations, or for aggregate spending at the practice level.
Healthcare Data Solutions builds and maintains a proprietary solution set of:
- Physician information, including places of practice and license data
- Nurse Practitioner and Physician Assistant information, including places of practice and license data
- Dentist information, including places of practice and license data
- Pharmacists and Pharmacies
- Hospital information
Dozens of sources are used to maximize coverage and maintain accuracy in a process of weekly updates. These sources provide updates regularly and include, but are not limited to:
- State license files
- National Provider Identifier taxonomy
- Drug Enforcement Administration files
- Claims verification feedback on Physician movement between practices
- USPS tracking of moves
- Telephone connect input on new healthcare offices
Our aggregate spend tracking services offer clients the database accuracy, fulfillment, flexibility and overall cost efficiency to meet the demands of today’s compliance standards without sacrificing their compliance, sales or marketing budgets in the process. HDS also offers research center support to resolve any outlying transactions, while world-class data processing services provide the initial file clean-up needed to establish a solid foundation for effective tracking with new technology to provide convenient desktop look-up capabilities.
Knowing that you still have growth objectives to meet, HDS can be your trusted partner for both compliance and growth!
To learn more about how PrescriberPRO and SpendTrackPRO can become a part of your aggregate spend tracking solution, contact Healthcare Data Solutions today.
