Health Market Science (HMS), a leading source for healthcare provider data and solutions, and business partner Alanda, developer of an industry-leading aggregate spend software solution, today announced the release of CompleteSpend version 3.0 from the 8th Annual Pharmaceutical Compliance Congress.
CompleteSpend is a powerful and user friendly compliance reporting system that collects, aggregates, standardizes, and reports spend data based on current state and pending federal regulations. At the core of CompleteSpend is HMS’ Compliance Grade MasterFile, a comprehensive and highly accurate source of spend recipient data, featuring 5.1 million healthcare providers (HCPs) and 1.0 million healthcare organizations and affiliations. Together, HMS and Alanda offer an aggregate spend solution that addresses the requirements of pharmaceutical and medical device manufacturers from HCP data to sophisticated compliance reporting.
Version 3.0 features executive dashboards that enable users to readily monitor their organization’s state of spend and comes pre-loaded with standardized report templates that are continuously updated by HMS to ensure alignment with specific-state reporting requirements. CompleteSpend enables users to rapidly create and distribute ad-hoc intelligence and compliance reports.
CompleteSpend Version 3.0 also features Facets, Alanda’s new viewpoint technology that enables users to see a single spend item through multiple guideline views or perspectives, including internal, state, and federal. The new Facets feature offers organizations an immediate holistic view of individual spend recipients to help life sciences organizations reduce the risk of non-compliance.
“Version 3.0 of CompleteSpend represents the market-driven innovation that our customers expect from HMS, ” Mitchell Chi, Senior Vice President of HMS Life Sciences said. “When combined with the quality of our Compliance Grade MasterFile and the new functionality of Alanda’s software - compliance reporting just stepped up to an unparalleled level for our clients.”
Dean Rossi, Founder and President of Alanda added, “My guiding vision of CompleteSpend continues to move toward empowering compliance and business users, enabling their ability to adhere to changing regulations, and to always move ahead of the emerging needs of our clients.”
About Health Market Science (HMS)
Founded in 1999, Health Market Science (healthmarketscience.com) is dedicated to providing the most accurate and useful data solutions to pharmacy, pharmaceutical, medical device manufacturers, health care providers, hospital systems, pharmacy benefit managers and other segments of the healthcare and life science markets. Our entire organization is focused on the quality of the solutions we deliver which starts with a relentless pursuit of acquiring, analyzing and integrating more than 2,000 disparate data sources. HMS has the experience, technology, people, and processes to deliver the most accurate, timely healthcare provider MasterFile available in the market. With more than 140 employees, HMS uses innovative technology and domain expertise to help its clients comply with evolving federal and state based laws, reduce operational costs and maximize market opportunities.
Alanda, of Hoboken, NJ, has developed one of the industry leading aggregate spend software-as-a-service (SaaS) offerings for pharmaceutical and medical device companies. Its software solution, which features an integrated business rules engine, provides the ability to not only track and report expenses as per individual state requirements but to also proactively alert and monitor spend data in accordance with clients’ corporate governance policies.