“Providing Industry-Leading Solutions for the Life Sciences Industry”

The life sciences industry is one of the most regulated industries in the world. Creating or enhancing a compliance program can be overwhelming and requires a trusted compliance partner to enable organizations to compliantly manage their high-risk business functions.

A compliance partner is more than just a company providing technology solutions. While those technology tools are critical, a partnership allows life science organizations to collaborate on solution configurability and stay up to date on global compliance and regulations with guidance from industry experts. Behind every great organization is a great leader who has helped forge the path for success. MediSpend’s CEO, Craig Hauben, has brought a wealth of leadership experience and industry knowledge to assist in the development of building MediSpend into an industry-leading compliance partner.

Hauben has led large sales and operations teams through high growth and turnarounds. He has been a stabilizing force with the management team and the whole company, allowing the organization to focus on client success and building MediSpend into the best compliance partner in the industry. Hauben’s vision has been critical. In a brief period, he has been able to survey the market, diagnose MediSpend’s product strengths and create a long-term roadmap for a unique product set in the industry. The entire MediSpend team is energized around this vision and the journey they are on.

According to Hauben, life sciences organizations have all the same issues that any organization faces. Still, the life sciences industry is governed by so many more laws and regulations that compliance is essential. “Keeping focus on compliance is a full-time job, and at times, may hinder your organization from growth,” said Hauben. “Partnering with the right compliance partner will allow you to put a process in place to mitigate risk and potentially save tens of millions of dollars in penalties.” The right compliance partner allows you to trust the solution in place, giving you more time to focus on growing your business.

"The right compliance partner allows you to trust the solution in place, giving you more time to focus on growing your business."

The MediSpend Global Compliance Suite consists of a modular suite of SaaS-based solutions: Engagement Manager, Transparency Solution, Grants Manager, Study Manager and Insights, which showcases real-time, ad hoc analytics that empower informed business decisions to help mitigate compliance risk. Together, these products represent a unified, end-to-end solution specifically designed to address global regulatory compliance laws across the life sciences industry.

• Engagement Manager enables your business to plan, engage and pay HCP/Os for activities that meet company objectives using embedded rules. It provides your entire organization with the strategic advantage of data-driven insights into these engagements that are needed to grow your business compliantly.

• Transparency Solution automatically aggregates, validates and reports transfers of value to comply with all global laws and codes. It offers your organization the ability to analyze all the aggregate spend data needed to make more informed business decisions while mitigating risk.

• Grants Manager manages internal and external funding and product requests through a secure portal, ensuring seamless communication, the ability to track and report out on the workflow and a more effective and efficient process.

• Study Manager is a compliance solution designed for non-pharmaceutical company researchers to request, track and manage investigator-initiated clinical studies trials (IIS/IIT).

• Insights is an intuitive business intelligence platform providing a 360° view of all aggregated compliance data in one centralized location. Stakeholders can view interactive dashboards, create ad-hoc reports and analyze integrated data to quickly identify risk and plan HCP/O engagements more effectively.

MediSpend has worked closely with various companies from small and emerging to the largest pharmaceutical and medical device companies in the world by assisting them in building successful compliance programs to fit their business needs. For example, a pre-commercial medical device organization was struggling with a lack of internal resources and knowledge when developing its compliance department. The organization did not know what requirements they were responsible for meeting or developing an effective reporting process. The client needed a compliance expert to educate them and improve their workflows to help streamline the process. MediSpend assisted the client with a gap analysis to identify risk areas and helped design a customized approach for the company considering their limited resources. MediSpend compliance experts continue to provide guidance to the client year-round on a global scale.

MediSpend partners continue to complement MediSpend solutions through innovative technology, professional and advisory services. MediSpend enhances client value and success through integrated and market-leading solutions and services by continually strengthening the Partner Program.

MediSpend recently received a majority growth investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm exclusively focused on software and information services companies. SGE's investment will accelerate and support MediSpend's product and client expansion across the broader life sciences industry. SGE’s partnership with MediSpend promotes enhancements across the company as they expand their product offering. With this new partnership, MediSpend is accelerating its roadmap and innovation, which will allow them to expand global coverage and add data services to its portfolio.

With a steady leader in position, a strong partner ecosystem in place and growth investment from SGE, MediSpend has positioned themselves as a global leader within the life sciences industry. It is no wonder why MediSpend is considered the compliance system of record for more than 100 life sciences companies around the world. We are looking forward to the new innovations that MediSpend offers to the life sciences industry in the coming months. IE