POINT ROBERTS, Wash., March 21, 2018 /PRNewswire/ -- The Affordable Care Act (ACA) requires pharmaceutical companies, medical device manufacturers and group purchasing organizations to identify and report their financial relationships with physicians and research hospitals to the Centers for Medicare and Medicaid Services (CMS), which enables the public to explore the data. The Open Payments program was created to aid financial transparency and requirements in compliance with the ACA. Non-compliance with the act can result in fines of up to $1 million.
To help simplify and expedite the collection and validation of the financial records companies need to report, SunshineActSoftware.com has released a continuous integration module to keep internal financial systems synchronized with their Open Payments database in the cloud.
This new module alleviates the need to manually export and import records. "It's all done regularly and automatically, while reducing the burden on already overloaded employees in the accounting and compliance departments," says founder, Randall Minter.
Combined with real-time record validation, this new integration module will help companies stay on top of reportable records on a regular basis and alleviate the hair pulling frustration that can happen as the March 31st deadline for data reporting approaches. "Our clients aren't bound by the rigid schedules of some other physician and data validation systems out there," says Minter. "Some systems take days to validate records. Sunshine Act Software validates in seconds."
Once records are exported to the cloud, they can be updated directly without having to go back to the original source data system. Many times, accounting systems can't be updated after month-end closing, so correcting records to comply with the stringent requirements of the CMS can be very difficult and time consuming. Sunshine Act Software eliminates that problem and simplifies CMS compliance.
About Sunshine Act SoftwareSunshineActSoftware.com is a privately-owned software company that delivers powerful, intuitive and cost-efficient data compliance solutions for the Open Payments Program legislated by the Affordable Care Act of 2009. The company is committed to making it easy for customers to collect and accurately report value transfers in accordance with 42 CFR Parts 402 and 403.
For more information, please contact [email protected].
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To help simplify and expedite the collection and validation of the financial records companies need to report, SunshineActSoftware.com has released a continuous integration module to keep internal financial systems synchronized with their Open Payments database in the cloud.
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This new module alleviates the need to manually export and import records. "It's all done regularly and automatically, while reducing the burden on already overloaded employees in the accounting and compliance departments," says founder, Randall Minter.
Combined with real-time record validation, this new integration module will help companies stay on top of reportable records on a regular basis and alleviate the hair pulling frustration that can happen as the March 31st deadline for data reporting approaches. "Our clients aren't bound by the rigid schedules of some other physician and data validation systems out there," says Minter. "Some systems take days to validate records. Sunshine Act Software validates in seconds."
Once records are exported to the cloud, they can be updated directly without having to go back to the original source data system. Many times, accounting systems can't be updated after month-end closing, so correcting records to comply with the stringent requirements of the CMS can be very difficult and time consuming. Sunshine Act Software eliminates that problem and simplifies CMS compliance.
About Sunshine Act SoftwareSunshineActSoftware.com is a privately-owned software company that delivers powerful, intuitive and cost-efficient data compliance solutions for the Open Payments Program legislated by the Affordable Care Act of 2009. The company is committed to making it easy for customers to collect and accurately report value transfers in accordance with 42 CFR Parts 402 and 403.
For more information, please contact [email protected].
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SOURCE Sunshine Act Software
