The medical sciences field comes with a wide range of uphill battles. There are about a million different issues and one major issue is open payment disputes. It is always helpful to identify those individuals in a company that are going to be able to help deal with open payments disputes. These individuals should be skilled in dealing with issues quickly and easily to help make the process run smoothly.
There are a wide range of individuals in any one life science organization that will be able to deal with open payments and the issues that arise from them. In most cases, there will be an aggregate spend or resolution specialist that can handle any issues. Generally, someone like a researcher or developer is not well suited for this sort of task.
Tip #1- Data Collection
The first thing anyone wants to do in a dispute is to collect all data as it pertains to all angles of the dispute. This means taking the time to track down not only data from the end of the life science company, but also all information regarding the dispute from the side of those filing the claim.
Tip #2-Employ the Appropriate Teams & Task Masters
The second thing that companies want to do is to insure that companies not only have the right team, but the right individuals to respond to any claims that are made. While it may be enough in some cases to have a team to handle issues, often it is necessary to have individuals delve deeper into the issues to adequately handle them.
Tip #3- Administer & Monitor Standard Operating Procedures
The third issue to contend with is of course compliance with standard operating procedures that are in place with the company for accuracy, efficiency, and consistency. It is always best to have a great system in place to help keep team members on the same page when something does pop up.
Tip #4- Implement Effective Open Payments Software & Team to Manage Systems
Still another issue to contend with is the open payment software and staff that is going to be handling disputes. You can have an excellent software system but without the proper individuals to run it, the program becomes virtually useless. This type of program will not only help you handle disputes and payments, it will also help you document any payments and disputes that may arise. This leads to the next tip to follow, keeping amply documentation. Documenting each move your company makes is the fastest and easiest way to insure that issues do not arise. By keeping thorough and accurate records, companies can be sure that they have the ability to back up any claims they need to regarding aggregate spend and open payments.
Tip #5- Don't Be Like Bill Murray in Groundhog Day
The last thing to remember is that you should always learn from the mistakes that have been made. Listening to public chatter is also a great way to gather information. Knowing how to collect bits and pieces from other issues can help companies avoid tons of scrutiny and issues that can potentially ruin a company's state of business. Those instances in which the media is drawn in are not uncommon in the life sciences industry. Being able to pinpoint where another company or even the company in question may have stepped off the beaten path and suffered dire consequences is a great way to mitigate risk in the future. Learn and benchmark not only from the mistakes you make, but the mistakes made by your competitors.
Handling Open Payments Disputes can definitely seem like a daunting task at first. However, if you streamline the process by effectively collecting the data, implementing the right teams and software, administer easy to follow SOPs (stand operating procedures), and learn from your mistakes and those made by others in your industry dispute resolution should be easier to conquer.
Are you interested in learning more about how you and your teams can more effectively plan for Open Payment dispute resolution? Join us at CBI's 8th Annual Transparency & Aggregate Spend Forum, taking place August 18-20, 2014 in Washington, DC. Click on the button below to learn more about this industry-leading event!
(Image courtesy of Kristen Wall via Flickr)