Aggregate Spend
AGGREGATE SPEND ARTICLES
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CRISPR In The Clinic: Regulatory Experts Discuss Development Of Cell And Gene Therapies
A regulatory expert provides her insight on what regulatory experts do and how they can help you accelerate your path from bench to clinic.
AGGREGATE SPEND SOFTWARE WHITE PAPERS AND CASE STUDIES
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A Proactive Approach To Service Line Inventory
In this case study, learn how Silver Creek Water Corporation successfully created a lead service line inventory with the help of 120Water. They have only 7 unknown service lines left out of 7,000 and plan to eliminate them through a resident survey.
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Water Authority Chooses Siemens Pressure Transmitters For Accuracy, Reliability And Ease Of Use
A county water authority in the Northeast U.S. supplies over 40 million gallons per day to its 340,000 residential customers. In this case study, learn why they chose Siemens pressure transmitters.
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Case Study: Using Technology To Reduce Operational Burden In Clinical Research
The Beat AML® master trial is transforming treatment for people with acute myeloid leukemia (AML), already improving survival for patients enrolled in a Beat AML study vs. standard chemotherapy. Read this case study to learn how a proven EHR-to-EDC system has enabled the success of this impactful trial.
AGGREGATE SPEND SOFTWARE NEWS
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Enefit Green Signed A Co-Development Agreement For Early-Stage Onshore Wind Projects In Poland4/12/2024
After market close yesterday, 11 April 2024, Enefit Green’s subsidiary Enefit Green sp. z o.o. signed a Development Service Agreement with a Polish development company - RES Global Investment sp. z o.o. to acquire 100% of development rights in multiple early-stage onshore wind projects in Poland.
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Study Proposes Streamlined Approach To Developing Cancer Drugs2/28/2024
Drug discovery can be a frustrating process of trial and error.
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California Water Service Group Utilities Prepared To Comply With New PFAS Regulations4/10/2024
Following the U.S. Environmental Protection Agency’s (EPA) adoption of a new National Primary Drinking Water Regulation for certain per- and polyfluoroalkyl substances (PFAS) today (new PFAS regulation), California Water Service Group (Group) (NYSE: CWT) confirmed that it believes its subsidiaries are well positioned to treat potentially impacted water sources and to meet the EPA’s five-year compliance timeline.
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Baker Hughes To Support Strategic Gas Project In Algeria To Enhance Italy, Europe's Energy Security5/23/2024
Baker Hughes, an energy technology company, announced Thursday it was awarded a major contract from SONATRACH for a gas-boosting project for the Hassi R’Mel gas field in Algeria.
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Carahsoft And Samsara Partner To Bring Public Fleet Management Solutions To The Public Sector5/22/2024
Samsara Inc., the pioneer of the Connected Operations Cloud, and Carahsoft Technology Corp., The Trusted Government IT Solutions Provider, today announced a partnership.
ABOUT
Aggregate Spend
Aggregate Spend refers to the process used to aggregate and monitor the total amount spent on organizations and individual healthcare professionals by healthcare manufacturers. The amount spent is aggregated in terms of payments made, honoraria, gifts, travel and other means. Aggregate spend is also known as the Physician Spend Sunshine Law which is an initiative that is aimed to achieve transparency in life sciences industry, the benefits of each physician as well as to limit spend per physician. The law is a body of state and federal legislations. Passing of this law was also in effort to alleviate the conflicts of interest between pharmaceutical and medical device companies and healthcare professionals.
The process requires that manufactures of various medical devices, drugs, biological and other supplies recorded all payments made to physicians including any other transfers of value to teaching hospitals and physicians. Report regarding all this information is required to be produced annually by all the applicable manufacturers and suppliers. The manufacturers are required to include details such as date, nature of payment and the value. Penalties are charged in case of breaching this law by the target parties.
By doing this, accountability of individual physicians and medical device, pharmaceutical and life sciences companies can be achieved. The challenge now is to the life science companies to address the reporting requirements and more so now that state and federal regulatory agency continue to enact legislation that require more auditing of monetary transactions to physicians and organizations involved in healthcare management. As a result many companies are now working more diligently to address compliance and gain more competitive advantage through reputation management among other ways.