TracedData

TracedData is a Manchester, NH outsourcing partner that takes transparency reporting off the plate of life science companies. Its done-for-you model covers data collection, remediation and submission, whether the requirement is US Federal (CMS Open Payments and the Sunshine Act), state or global. Compliance teams get accurate reports and stay free to work on proactive compliance. The company describes a common problem. Transparency reporting often lands on someone in finance, administration or compliance who was never trained for it and dislikes it. The other route is a dedicated hire, which costs a lot for a task that crowds out bigger compliance needs. TracedData offers a third option: the experience of a reporting expert at a fraction of the cost of a full-time employee. The work is split into four services. Fully Managed Transparency Reporting covers the day-to-day running of a reporting program, including submissions. TracedData works inside whatever tool the client already has, or uses its own EASY Report tool if there isn't one. The One Time Transparency Reporting Service suits companies with only a few hundred transactions a year. TracedData provides templates for the data, then builds and files the CMS Open Payments and state reports. Compliance Solution Implementations help larger organizations choose and set up reporting tools and HCP engagement solutions that fit their budget and business. Training, Policies and Procedures covers areas like Concur data capture, Sunshine Act and global requirements, and finance vendor onboarding. The team says it has written hundreds of documents for clients, along with short-form training content. TracedData focuses on small and midsize life sciences organizations. These are companies that don't want to pay $20k, $40k or $100k for a tool used once a year. One client, a head of compliance, said outsourcing transparency reporting to TracedData improved the program and led to lower consulting costs than a full-time staff member would have. If you want a back office function handled by people who know the rules, this is a practical place to start. Schedule a call with TracedData to see whether its transparency reporting services fit your team and your reporting season.