Life Science Compliance Year End review

We are now officially in Q4 2021, so this will be our last post in the 3-part series covering year-end reviews, 2022 priorities, and 2022 goals. Hopefully the posts have been interesting, helpful, or both. Today our post focuses on annual goals and budgets. Ideally, the two topics would be integrally intertwined since the purpose of annual goals is to push ourselves and teams to grow, improve and be more successful than ever. So it only seems logical that we would receive a budget to support such growth, improvement, and success: additional headcount, extra trainings, new IT solutions, engagement with subject matter experts, etc.

The unfortunate reality is that many companies’ revenues fell due to COVID, so budgets and headcounts have mostly been frozen/reduced and approved expenditures can feel as though they’re on thin ice.  Yet compliance obligations have grown much more complex as we’ve had to:-decipher and comply with an ever-changing patchwork of federal, state, and local COVID requirements-adapt to a remote/hybrid workforce-comply with the rapidly expanding list of state laws and regulations;-continue to meet the plethora of federal laws, regulations, and ever-changing agency guidance-keep track of enforcement actions, enforcement priorities, and lawsuits-etc. Thus, annual goals and budgets have diverged as we’re being tasked with doing more than ever, with a smaller budget and fewer resources.  So, with that in mind, we came up with the following 2022 goals to help our clients achieve their goals, improve quality and compliance, and save time and money.(1) Compliance Calendar: We can help you keep track of applicable requirements/deadlines for price disclosures, drug and sharps take back/disposal, compliance program certifications, payment reports, and more.(2) Compliance Newsletter: We’ll provide a concise digest so that you can follow key compliance news/happenings without having to wade through countless newsletters, news feeders and aggregators, etc. (3) Compliance Policies & Trainings: Throughout the year, we’ll be posting policies and trainings, developed by compliance experts, that you can use/customize. (Don’t forget to use our learning management system to assign, track, and document trainings and policy acknowledgements).(4) Compliance Hotline: We’ll be offering an anonymous reporting hotline/webform through the MedCompli portal so that you can manage reports/investigations without having to remember yet another website, username, and password.(5) Contract Templates:  We’ll be partnering with top-notch industry attorneys to provide a suite of contract templates for pharma, biotech, med device, and healthcare companies. Even if you have asset of templates, give ours a try: we’re dedicated to bringing you the best!

Please let us know if you have any other suggestions for how we can help you and your compliance team. #yearend #2021review #2022planning #2022goals #compliance #compliancesolutions #healthcarecompliance