In late 2014, Medicines Australia adopted a new code of conduct, Edition 18, which applies to pharmaceutical companies and took effect in January of 2015. Among many subtle changes to the ethical code, Australia completely overhauled its transparency reporting requirements.
Australia previously required four separate reports to be submitted at varying intervals each year. As of October 2015, Australia will require three reports: the Health Consumer Organization Support Report (ongoing from previous years), and the newly added Healthcare Professionals Report, and Sponsorship of Third Party Educational Events Report. The two HCP and Third Party Events reports capture substantially the same information that was previously made public in three separate documents, with some small differences. However, the data is now consolidated and must be submitted in very specific, technical formats required by Medicines Australia.
The transfers of value that must be disclosed in the HCP report include consulting fees, speaker fees, advisory board payments, and travel & accommodations among other things. This data must be captured and uploaded to a publicly accessible website hosted by each individual company. These reports are due twice per year, each April and October.
Companies need to be sure that they continue to capture the relevant data for the old reports through September 2015, as well as be ready for the transition to the new data collection and reporting requirements for Australia starting in October. Contact Polaris today to assess whether your spend capture systems are ready for transparency reporting in Australia moving forward.
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