Iron Mountain Launches New Suite of Compliance Tools
MILPITAS, Calif.--(BUSINESS WIRE)--Jun. 28, 2013--
Iron
Mountain® Fulfillment Services, Inc., a division of Iron
Mountain Incorporated (NYSE: IRM), has launched a new suite of tools
that help pharmaceutical and biomedical device companies create
marketing materials that comply with industry regulations like the
Sunshine Act. The suite enhances the company’s existing GroupTrak
marketing fulfillment software.
“Pharma and biotech and medical device industry executives have to
balance the necessity to meet the Sunshine Act’s data collection
requirements with the need to engage with physicians and promote their
products,” said
Daniel
R. Matlis
, president of Axendia,
an analyst and strategic advisory firm focused on the life science and
healthcare markets. “Iron Mountain can provide tools to support
compliance while keeping doctors updated on the latest product
developments.”
Data collection for the Physician’s Payment Sunshine Act begins Aug. 1,
meaning U.S. manufacturers of pharmaceutical drugs, medical devices, and
biological and medical supplies are required by federal law to account
for benefits they provide to physicians and teaching hospitals in the
course of their regular sales and marketing processes.
GroupTrak’s compliance suite allows customers to:
-
Track and report transfers of value (TOVs)
for all bulk shipments and individual deliveries that Iron Mountain
fulfills. Marketers get information on which sales person placed an
order, what materials were ordered and their fair market value, and to
which healthcare provider the material was shipped.
-
Simplify updates to marketing materials
to keep pace with periodic changes to the product and regulations. One
drug or medical appliance is associated with volumes of corresponding
marketing materials, and even the smallest change forces an update of
all these materials. Doing so manually begs for an error that can
expose a company to costly fines, sanctions, lawsuits and even
criminal charges – particularly if it involves prescribing,
dosage/usage or safety information. GroupTrak helps automate the
process by empowering pharma and biomedical device manufacturers to
map, track and update relationships between products and supporting
documents, as well as put associated items on hold, dramatically
reducing editing time and errors.
-
Manage Disclosures. GroupTrak
ensures that collateral contains all of the disclosures required by
product enhancements, differing jurisdictional regulations and legal
interpretations. It incorporates all required disclosures and
footnotes into one database and automatically inserts the right copy
each time a user orders a document. As a result, pharma and life
sciences marketers create accurate, compliant documents faster and
more easily by eliminating time-consuming, error-prone manual
processes.
“We enhanced GroupTrak specifically for Sunshine Act compliance. This
empowers our clients to track and report on marketing materials that we
distribute to doctors and other health care professionals on their
behalf,” said
David Lowndes
, director of product marketing for Iron
Mountain Fulfillment Services. “The result is a suite of tools that no
other fulfillment provider can match – offering marketing compliance
coupled with the security of a trusted storage and information
management company.”
For more information on GroupTrak, contact
David
Lowndes
. Read his recent blog post, “The
Sunshine Act: Don’t Get Burned This Summer.”
About Iron Mountain Fulfillment Services
Iron Mountain Fulfillment Services, Inc. offers an advanced combination
of fulfillment and digital print solutions for targeted and personalized
communications. With over 40 years of experience in the fulfillment
business, Iron Mountain partners with clients to optimize their
communications. Our solutions increase response rates, expand market
opportunities, reduce costs and ensure appropriate compliance. To learn
more about our Life Sciences solutions and other ways we can help your
company increase response rates and productivity, contact us at (866)
563-IMFS or visit our website at www.ironmountain.com/fulfillment.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage
and information management services. The company’s real estate network
of over 64 million square feet across more than 1,000 facilities in 35
countries allows it to serve customers with speed and accuracy. And its
solutions for records
management, data
backup and recovery, document
management, and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information for
business advantage. Founded in 1951, Iron Mountain stores and protects
billions of information assets, including business documents, backup
tapes, electronic files and medical data. Visit www.ironmountain.com
for more information.
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Source: Iron Mountain Incorporated
Iron Mountain Fulfillment Services
David Lowndes, 512-977-9511 Ext
30
david.lowndes@ironmountain.com
or
Kings
Mountain Communications
Michele Moyer, 650-269-1442
Michele.moyer@kingsmountainpr.com