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news.R-Squared, a developer of evidence-based compliance solutions, has commenced a strategic alliance with IMS Health, to provide support to pharmaceutical and medical device manufacturers in order to conform to the state transparency and marketing disclosure laws, known as 'aggregate spend' reporting laws.
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Under the terms of the alliance, R-Squared’s SpendTracker compliance application platform will be implemented to support IMS’ new Aggregate Spend Compliance Services. R-Squared claimed that SpendTracker is a flexible technology purposefully designed for aggregate spend compliance.
The consolidation of IMS’ data sets and its patent-pending dynamic linking results in lot of analytical and operational uses of the data. IMS, through the alliance, will offer implementation, hosting, analytics, master data management, and a range of support services for SpendTracker implementations and aggregate spend compliance, depending on different needs of the client.
Don Otterbein, general manager of business transformation services for IMS, said: IMS evaluated a number of companies, ultimately selecting R-Squared to support our aggregate spend solution because of their strong technology platform. Through this alliance, we will be able to leverage our industry-leading reference data, advisory services, and data management capabilities to deliver an accurate view of spend associated with the healthcare professional.
Michael Bell, President and CEO of R-Squared, said: By aligning with a genuine industry leader, we bring together R-Squared’s strength in creating easy-to-use and configurable compliance software with IMS’s unique combination of global information, analytics, and consulting services to offer unparalleled compliance services for the life sciences industry. This is iron-clad compliance plus business intelligence, and is truly a unique and highly valuable offering.
R-Squared, through patent-pending extensions to Microsoft SharePoint, has developed solutions that it claims are configurable, cost-effective, integrate seamlessly with existing workflows and software systems, prevent costly errors from happening, and maintain evidence of compliance.