Innovative focus arrangement software and consulting solutions provide critical compliance and business solutions for pharmaceutical and medical device manufacturers.
Due to increased government oversight, companies should establish focus arrangement procedures that include creating and maintaining a “centralized tracking system” for all existing and new or renewed arrangements.
Focus Arrangements Management System
- Creates, tracks and approves contract requests, including managing approved FMV (fair market value) ranges
- Identifies common cost drivers across a category of services, which allows companies to more effectively evaluate service costs, automate the approval workflow and inform compliance auditing and monitoring
- Delivers enhanced visibility to the valuation of engagements by applying established benchmarks, which can be used to objectively assess fees across common service categories
- Allows companies to effectively evaluate business arrangements and establish FMV by comparing pricing and content across functional and therapeutic areas
- Streamlines the review and approval process, including management’s due diligence
- Provides comprehensive assessment of commercial and medical activities with the ability to mine specific engagements or common engagement types for analytical insights
Focus Arrangements Management Consulting
Our experts can help you understand and manage focus arrangement risks and show you how focus arrangement management can lead to business insights.
- Provides expert consultative insights and recommendations as well as industry analytics and benchmarking
- Has earned the reputation as the go-to resource to deliver robust technology platforms and data-informed business intelligence based on clients’ specific challenges and requirements
- Has been tracking and benchmarking industry business arrangements across a wide range of therapeutic areas for over a decade
- Has collected, organized and mined this valuable data to provide you with the insights you need to evaluate and benchmark common fees and premiums
- Has robust data sets providing insight into fees and premiums related to common marketing activities (which we can provide in the form of granular, transferable pricing units like average cost per impression or cost per recipient) as well as conference sponsorship packages and exhibiting
- Offers expert insights that allow our clients to improve decision-making and more effectively negotiate agreements
Polaris makes identifying, tracking and managing Focus Arrangements easy, providing you with valuable business insights and compliance efficiencies.
Focus Arrangements are transactions involving individuals or entities that may purchase or make referrals for company products that can be classified into several categories:
• Consulting, fee-for-services
• Speaker bureaus
• Centers of excellence
• Clinical data
• Research overhead
• Credentialing fees
• In-hospital exhibits
Managed care engagements:
• Direct marketing
Patient advocacy & support:
• Patient outreach
• Financial support programs
Wholesaler & Specialty Rx Engagements
• Management fees
• Clinical data
• Patient adherence programs
For more information or a demonstration of how Polaris and our Focus Arrangements Management Solutions can help you, please contact us.