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Clinverse, Inc. Introduces ClinSpend to Meet Challenges of Sunshine Act Reporting Requirements
Date:6/5/2013

Raleigh, NC (PRWEB) June 05, 2013

Clinverse, Inc., a global technology and financial services company for clinical trials, today introduced its ClinSpend™ solution, designed to meet the reporting requirements to the Center for Medicare and Medicaid Services (CMS) for the federally mandated Sunshine Act, now called OPEN PAYMENTS, providing greater transparency around the financial relationships of manufacturers, physicians, and teaching hospitals.

ClinSpend is the aggregate spend reporting module within the family of products integrated seamlessly alongside Clinverse’s Financial Lifecycle System (FLS). ClinPay®, the company’s anchor product, is the industry’s leading fully-automated investigator payment system which streamlines and automates the financial payment process in clinical trials. For sponsors, clinical research organizations (CROs), and healthcare providers (HCPs) deploying ClinPay for payments, more than 90% of the research transactional data required by OPEN PAYMENTS already resides within the system. By leveraging the unified FLS platform, ClinSpend has the added capability to collect and report on payments made directly to teaching hospitals and indirectly to physicians performing research at the teaching hospital.

Whether used alone or as an integrated component to the FLS platform, ClinSpend provides HCPs access to real-time, proactive dispute resolution through its site portal to review and challenge payment claims made by applicable manufacturers. Manufacturers can proactively manage HCP relationships by verifying data and resolving discrepancies shortly after payment is made, rather than requiring the HCP to wait to file a dispute months later when data are transmitted to CMS.

Clinverse’s application programming interface (API) provides the flexibility for ClinSpend to easily accept research, non-research, an
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