Polaris’ solution manages and automates the processes for reviewing, funding and reconciling patient-related activities.
The life sciences industry is increasing its funding to patient-related organizations for various initiatives, such as patient assistance programs, patient education grants, as well as patient advocacy grants and charitable contributions to patient-related organizations. This support routinely comes in the form of external requests for funding, or planned giving in support of the manufacturer’s therapeutic area strategy.
There is an acute need to support patient care and access through financial aid to advocacy and other grass-roots organizations. Rendering this support presents the challenge of balancing the need to support the corporate mission with the need to ensure compliant and fair funding practices.
Scrutiny of patient-related funding will continue to grow. Polaris’ Request Management System (RMS), a world class online solution that provides an efficient and compliant process, helps life science companies balance the increased demands of these funding initiatives.
Polaris’ Request Management System (RMS) for Patient Activities Funding
Establishes consistent controls for submission, review and approval of external requests for funding as well as internal planned giving. Reconciles activities and reports on the effectiveness of the funding.
Tracks volume and type of funding across global business units. Provides proper workflow approvals and visibility in historic funding.
Improves strategic decision-making and meets evolving compliance, transparency and ethical requirements.
The Polaris Request Management System can:
- Facilitate planned giving activities in alignment with corporate missions
- Facilitate registration of all requestors to merge into a single database of grantees
- Track and monitor activity progress and funding, milestone payments
- Centrally and electronically accept, review and approve requests to fund patient related grants as well as educational grants and charitable contributions
- Capture electronic signatures on an automatically generated Letter of Agreement (LOA) where needed
- Conduct reconciliation on all approved requests to ensure the appropriate use of funds
From first request to reconciliation, our time-tested processes benefit your organization on multiple levels:
- Online submission and requestor due diligence. External applicants easily enter organization information and supporting documents
- Match requests with needs assessment to demonstrate planned giving is in alignment with corporate mission
- Unique user login credentials are created and a request is submitted by applicants and routed for review
Request review and decision
- Automatically screen for tax status, exclusion lists, completion of required forms and upload of necessary documents
- Review criteria and business rules while including factors mandated by law and specified by requestor
- Online review and decision of request and strategic allocation of funds based on pre-defined categories
- Electronic or offline execution of Letter of Agreement or contracts where needed
Activities and payments
- Web based system, accessible anywhere in the world, fully paperless
- Milestone payments: Online submission of key financial and operational data – supported at intervals required by requestor (monthly, quarterly, etc.)
- Upon event completion, grantee can be required to reconcile financials using online interface
- Option for detailed outcomes evaluation of the program
- Ability to capture internal feedback and evaluation of the program and organization
- Stakeholder reports to track spend and outcomes, and measure effectiveness of the program
- Performance dashboards and management reporting
- Ad Hoc reporting and analytics (via Polaris monthly support or self-service reporting)
For more information or a demonstration of how Polaris and our Request Management System Solution can help you, please contact us.