Fair Isaac Introduces State Compliance Solution for Pharmaceutical Industry

Fair Isaac Corporation, a leading provider of business analytics and decision management technology, today announced the immediate availability of its new State Compliance Decision Manager(TM) solution. The solution is designed to help pharmaceutical firms meet regulatory compliance demands through more effective reporting and managing of multiple types of promotional spending across an organization.
 
With State Compliance Decision Manager solution, pharmaceutical firms can now provide states with more comprehensive and accurate information on commercial or "aggregate" spend associated with healthcare professionals and organizations — including dinner meetings, "lunch and learns," and medical gifts — to support current legislative requirements, including Office of Inspector General (OIG) and PhRMA guidelines. The State Compliance Decision Manager solution is powered by Fair Isaac’s Blaze Advisor(TM) business rules management system, an industry-leading software package that allows design, deployment, execution and maintenance of business rules and policies as part of an automated business application.

State Compliance Decision Manager solution gives business owners greater process control and the ability to quickly update systems based on legislative changes. Its flexible standards-based architecture simplifies development efforts by seamlessly integrating with existing reporting environments and data. Companies can implement and enforce public policy changes quickly and accurately, reduce time and costs to incorporate aggregate spend changes, accelerate development and reporting, increase their business process agility, and minimize errors through a rules-driven compliance process.

"Legislation reflecting the ever-changing, state-level regulatory environment requires pharmaceutical firms to implement a system that helps them reliably and effectively track and report spend," said Jim Kalustian, vice president of the Pharmaceuticals and Healthcare division at Fair Isaac. "Managing this process can be a daunting task. Fair Isaac has worked with leading pharmaceutical companies to develop a solution that leverages our success in helping leaders in financial services and insurance manage complex and changing regulatory compliance requirements while optimizing their overall spend."

Fair Isaac’s solution is designed to support pharmaceutical companies in their efforts to achieve regulatory compliance with current and future state-level reporting requirements by enabling them to move from a more retrospective focus of "what did we spend" to a more predictive "how and where should we spend."

State Compliance Decision Manager solution will help firms effectively manage multiple types of spend across the organization and provide reporting to individual states by providing a centralized storehouse for all current customer and spend data. Fair Isaac’s rules engine is used to author, maintain and manage state-level business rules across client systems and organizations without the need to change code in existing systems. Closely linked to Fair Isaac’s Blaze Advisor system, industry-standard reporting tools are leveraged to provide spend reporting to individual states and threshold reports in support of internal requirements.