Clinverse launches ClinSpend
Clinverse, a global technology and financial services company for clinical trials, has 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 alongside Clinverse’s Financial Lifecycle System (FLS). ClinPay, the company’s anchor product, is a fully-automated investigator payment system to streamline and automate the financial payment process in clinical trials. For sponsors, CROs and HCPs already using ClinPay for payments, more than 90% of the research transactional data required by Open Payments already resides within the system.
ClinSpend has the added capability to collect and report on payments made directly to teaching hospitals and indirectly to physicians performing research at those teaching hospitals.
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.
ClinSpend easily accepts research, non-research and ownership data from a wide variety of additional sources, including clinical software applications and spreadsheets. One example is the recent partnership with Aggregate Spend Solutions, integrating the company’s flagship product, SpendMD. a web-based system created to report transfer of value associated with investigator meeting and other meeting-related expenses. Related data are captured and easily exportable for review by the client and investigator, and are then sent to ClinSpend to be packaged with all other Open Payments data for submission to CMS.