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Press Release:
R-Squared Forms Strategic Relationship with IMS Health
Alliance Yields Best-in-Class Compliance Solution for Pharmaceutical and Medical Device Manufacturers
Princeton, NJ - February 18, 2010 – R-Squared, an industry leader in evidence-based compliance solutions, today announced a strategic alliance with IMS Health Inc., to help pharmaceutical and medical device manufacturers comply with the growing body of state transparency and marketing disclosure laws, known as "aggregate spend" reporting laws. As part of the alliance, R-Squared’s state-of-the-art SpendTracker® compliance application platform will be deployed to support IMS’s new Aggregate Spend Compliance Services.
SpendTracker represents the culmination of R-Squared’s years of legal and in-the-trenches compliance experience plus the most flexible technology purposefully designed for aggregate spend compliance. The combination of IMS’s rich data sets and R-Squared’s patent-pending dynamic linking yields almost limitless analytical and operational uses of the data. Through the alliance, IMS will provide implementation, hosting, analytics, world-class master data management, and the full array of support services for SpendTracker implementations and aggregate spend compliance, as appropriate for a client’s unique needs.
"IMS evaluated a number of companies, ultimately selecting R-Squared to support our aggregate spend solution because of their strong technology platform," said Don Otterbein, general manager, Business Transformation Services, IMS. "Through this alliance, we will be able to leverage our industry-leading reference data, advisory services, and data management capabilities to deliver an accurate view of spend associated with the healthcare professional."
"R-Squared is committed to working with best-in-class organizations to help resolve critical compliance and operational challenges," said Michael Bell, President and Chief Executive Officer of R-Squared. "By aligning with a genuine industry leader, we bring together R-Squared’s strength in creating easy-to-use and configurable compliance software with IMS’s unique combination of global information, analytics, and consulting services to offer unparalleled compliance services for the life sciences industry. This is iron-clad compliance plus business intelligence, and is truly a unique and highly valuable offering."
For a printable version of the press release, click here.
For a printable version of the IMS Health press release, click here. To view the IMS Health homepage, click here, or to view the IMS Health Aggregate Spend Compliance Solution page, click here.
Press Release:
R-Squared and MDMA Announce Partnership:
Princeton Junction, NJ (June 12, 2008) — R-Squared, an industry leader in compliance consulting and solutions, announced a multi-year partnership with the Medical Device Manufacturers Association (“MDMA”), a national trade association, based in Washington, D.C., representing more than 175 members, including manufacturers of medical devices and diagnostic products. Though the partnership, which was announced at the MDMA Annual Meeting, R-Squared will serve as MDMA’s preferred provider of Evidence-Based Compliance management systems, including programs that demonstrate best practices around financial relationships with, and tracking spending to, physicians and other referral sources.
“We could not be more excited about our partnership with MDMA,” said Michael Bell, Esq., Founder and Managing Member of R-Squared. “Our affordable next generation solutions are designed specifically to improve the performance and data analytics capabilities of device manufacturers, while at the same time preventing problems from occurring and evidencing compliance best practices.” At the Annual Meeting, Michael also participated on the panel of experts to discuss “Key Fraud and Abuse Issues in the Medical Technology Industry,”wherein Michael presented on trends in evidence-based compliance. “We are a small, service-oriented firm that marries substantive expertise with the latest in smart technologies. Our partnership with MDMA could not be a more perfect fit for us.”
Through this relationship, MDMA members will have special access to R-Squared’s proprietary solutions, including Arrangements KeeperSM, which was designed by leading health lawyers and compliance officers to merge internal controls and data to demonstrate compliant physician/manufacturer relationships, and SpendTrackerSM, which tracks, sorts, trends, and reports on aggregate spend. In addition, MDMA members will be entitled to discounts on consulting services and future software releases, including a to-be-named complete compliance system that is scheduled for release in the fourth quarter.
“Our partnership with R-Squared reflects MDMA’s commitment to its members to provide state-of-the-art solutions that will not only help our companies navigate the compliance complexities and avoid costly mishaps, but also provides them with key data and analytics for continuous business improvement,” said Mark B. Leahey, Esq., Executive Director of MDMA. “Michael Bell is a foremost expert in medical device compliance matters and a trusted advisor to MDMA and its members. We are pleased to be partnering with Michael and R-Squared.”
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About The Medical Device Manufacturers Association. MDMA is a national trade association based in Washington, D.C., representing innovators and entrepreneurs in the medical device industry. MDMA seeks to improve the quality of patient care by encouraging the development of new medical technology and fostering the availability of innovative products in the marketplace. Please visit www.medicaldevices.org to learn more about MDMA.
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