Gift/Promotional Registry:
In 2007 there was substantial state legislative activity regarding gifts to healthcare professionals and marketing reporting requirements.
Gift Limitations or Bans:
There are already several states that have passed gift limitations. This is in addition to gift bans that are in force at most major academic medical centers. These limitations generally include a gift dollar limit, tracking of all items given to physicians, payments for medical conferences, honoraria, consulting services, and publications. With these limitations the value of each item listed above must be documented and reported. The reporting format may be different for each state.
Marketing Reporting Requirements:
There are already 15 states with marketing reporting requirements. Each states requirement differs slightly. The requirements are state based and generally include: advertising costs, any promotional item, fees paid, subsidy, or other economic benefit provided in connection with detailing or other marketing activities by the company directly or indirectly for a given state. Additionally, the cost of all employees or contractors who directly or indirectly engage in advertising or promotional activities in the state must be reported.
Other Legislative Activity:
There are currently 13 other states that are considering gift limitations and/or marketing reporting requirements!
WATERMARK Advantage
Problems for Sponsor Companies:
Just collecting information from the representatives in the field or various departments can be challenging enough. Not to mention that each state has different requirements and different reporting structures.
Solution:
WATERMARK provides a web based solution for data input. Each representative is provided a log-in for your company. As they visit customers, support research activity and publications, provide a meal at a meeting, etc.., all the information can be easily added to your company database. WATERMARK provides 24X7 access to the database so at any time you can log-in, review reports, and export information for your annual filings. Additionally, because of our independence and regulatory background, there is never a question if all information in the database has been included in a report.
Contact WATERMARK to see a sample.
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Click on the links below for downloadable information on regulating gifts from Industry:
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