openPR Logo
Press release

Life Sciences Aggregate-Spending and Reporting Market Set to Witness an Uptick During 2017 – 2025 : Persistence Market Research

05-16-2017 02:10 PM CET | Health & Medicine

Press release from: Persistence Market Research

Life Sciences Aggregate-Spending and Reporting Market Set

Aggregate spend is a process used in the U.S. to combine and monitor the total expenditure by health care manufacturers on individual healthcare organisations and personnel through payments, honoraria, gifts, travel and other methods. It is also known as the Physician Payment Sunshine Act and was passed in March 2010. The Sunshine Law Tracking and Reporting Market is a growing body of state and federal legislation who intend to address some or all of the following objectives –

Provide transparency with regards to who in the medical industry contributes what benefits to which medical professional.

Make statutory reports mandatory at least on an annual basis.

Limit total spending per physician.

The organisations monitored in the Life Sciences Aggregate-Spending market are pharmaceutical, biotechnology and in some U.S states and cases, even medical device organisations. While U.S pharmaceutical companies have been dealing with the Sunshine Act for close to a decade now, new legislation such as France’s disclosure law and the European Federation of Pharmaceutical Industries and Associations’ ‘Code on Disclosure of Transfers of Value from Pharmaceutical Companies to HCP and HCO’ are the latest in transparency legislation and industry codes being implemented worldwide.

With the rapidly changing and evolving regulatory environment, it is vital that life science organisations keep tracks of payments across the organisation and develop a roadmap to assess aggregate spending needs. The desire to achieve more transparency between the healthcare industry and professionals is the main driver of the Life Sciences Aggregate-Spending/Sunshine Law Tracking and Reporting Market. Life science manufacturers in developed nations like the U.S, and France face some of the most stringent government regulations across any industry. Increased legislative pressure forces pharmaceutical and medical device manufacturers to adjust, by adopting proactive systems that lessen corporate vulnerability, provide transparency and ensure legal compliance.

The Sunshine Law Tracking and Reporting Market also aims to cut down on conflict of interest relationships in pharmacy that affect prescription behaviour and can potentially drive up the cost of drugs and services. Transparency regulations like the Sunshine Law shed light on how industry sale tactics impact the cost of medical devices and drugs. Studies have shown the correlation between ‘transfers of value’ like gifts, meals, travels and doctor prescribing behaviour. As the business relation between sales personnel and medical practitioners grows stronger, the latter becomes less aware of the influence on their prescribing behaviour. Inaccurate information about competitive drugs can also make physicians more likely to prescribe it, driving up the cost. Thus with relatively little effort, medical device manufacturers can influence medical decisions and manipulate the market, driving up prices for the final customer. Greater governmental scrutiny of this kind of unethical behaviour is what will drive the Life Sciences Aggregate-Spending/Sunshine Law Tracking and Reporting Market in the days ahead.

The Life Sciences Aggregate-Spending/Sunshine Law Tracking and Reporting Market Restraints can be broadly classified into those faced by the pharmaceutical companies and those by the government. Life science companies must aggregate their records from a variety of diverse sources. There is a very strong possibility of data discrepancies being discovered. In some countries like the U.S, there can be differences in state laws and regulation must be according to the state where the organisation is based. This not only adds to the regulatory hassles but also to the compliance cost. The third challenge is the sheer volume of data that must be aggregated, processed, cleansed and filed. The Life Sciences Aggregate-Spending/Sunshine Law Tracking and Reporting Market Restraint for the government are handling how the voluminous data generated can be properly analysed for any violations in a reasonable time frame.

Some of the Life Sciences Aggregate-Spending/Sunshine Law Tracking and Reporting Market key players are Polaris, Capgemini, HighPoint Solutions, Porzio Life Sciences, MediSpend, Oracle, and InterplX.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.

A Sample of this Report is Available Upon Request @ http://www.persistencemarketresearch.com/samples/13594

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Request to View Tables of Content @ http://www.persistencemarketresearch.com/toc/13594

About Us 
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
 PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.

Contact
Persistence Market Research Pvt. Ltd
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
media@persistencemarketresearch.com
Web:www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Life Sciences Aggregate-Spending and Reporting Market Set to Witness an Uptick During 2017 – 2025 : Persistence Market Research here

News-ID: 538399 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


More Releases for Life

Life Heater Reviews - How Does Life Heater Work? Read life heater reviews consum …
The Life Heater emerges as a revolutionary heating solution, redefining efficiency and safety standards for residents in the United States and Canada. More than a conventional heater, it boasts impressive energy savings of up to 30%, making it a beacon of sustainability in the realm of home heating. The device's convection heating system ensures rapid warmth, promising to elevate the comfort of spaces across North American homes with unprecedented speed. The
Russia Life Insurance Market to Eyewitness Massive Growth by 2026 | Renaissance …
A new research document is added in HTF MI database of 74 pages, titled as 'Russia Life Insurance - Key Trends and Opportunities to 2025' with detailed analysis, Competitive landscape, forecast and strategies. Latest analysis highlights high growth emerging players and leaders by market share that are currently attracting exceptional attention. The identification of hot and emerging players is completed by profiling 50+ Industry players; some of the profiled
Life Insurance Market is Booming Worldwide | Sumitomo Life Insurance, Nippon Lif …
HTF MI recently added Global Life Insurance Market Study that gives deep analysis of current scenario of the Market size, demand, growth, trends, and forecast. Revenue for Life Insurance Market has grown substantially over the five years to 2019 as a result of strengthening macroeconomic conditions and healthier demand, however with current economic slowdown and Face-off with COVID-19 Industry Players are seeing Big Impact in operations and identifying ways to
Online Life Insurance Market Swot Analysis by Key Players Nippon Life Insurance, …
Global Online Life Insurance Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global Online
Life Insurance Market Next Big Thing with Major Giants HDFC Life Insurance, SBI …
A new business intelligence report released by HTF MI with title "Life Insurance Market in India 2019" is designed covering micro level of analysis by manufacturers and key business segments. The Life Insurance Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of
Life Insurance Market to Witness Massive Growth| Allan Gray Life, Coronation Lif …
HTF Market Intelligence released a new research report of 35 pages on title 'Strategic Market Intelligence: Life Insurance in South Africa - Key Trends and Opportunities to 2022' with detailed analysis, forecast and strategies. The study covers key regions and important players such as Allan Gray Life, Coronation Life Assurance, Sygnia Life etc. Request a sample report @ https://www.htfmarketreport.com/sample-report/1854964-strategic-market-intelligence-38 Summary The ""Strategic Market Intelligence: Life Insurance in South Africa - Key Trends