MOUNT ARLINGTON, N.J., Jan. 31, 2023 — MedPro Systems, the leading provider of commercial and compliance solutions for the Life Sciences industry, today launched an expansion to their authoritative transparency reference library solution, RegulatoryID, to cover US state drug price reporting regulations. With this expansion, pharmaceutical manufacturers can view and search all current and pending state-level pricing regulations to drive informed pricing decisions and understand what actions will trigger state reporting obligations.
Beginning with Vermont in 2016, more than 30 unique reporting requirements have been enacted at the state level, with additional pending legislation on the way. Manufacturers can only expect this number to increase as states look for new ways to monitor drug prices, establishing a clear need to turn to an established and trusted partner, like MedPro, to track these obligations and ensure compliance success.
To navigate these complexities with ease, RegulatoryID customers can view and sort these regulations by state, price report types and deadlines, product-type specific requirements, submission prerequisites, and more.
“We have heard from customers time and time again that it is a full-time job to keep up with all of the different state requirements, let alone organize them and stay on top of deadlines,” said Chelsea Ott, JD, Director, Global Regulatory at MedPro Systems. “RegulatoryID has been a proven solution for US and global aggregate spend reporting and we are thrilled to offer this for state drug price reporting, particularly considering the higher volume of pending legislation in this area.”
“MedPro has always focused on a customer-first approach,” said Greg Ungemach, CEO of MedPro Systems. “With the launch of state drug price reporting in RegulatoryID, we are thrilled to provide a solution that meets the evolving compliance and regulatory needs our customers face, backed by MedPro’s superior customer support and compliance advisory services.”
In addition to state drug pricing requirements, RegulatoryID provides customers with a centralized disclosure compendium of all US and global aggregate spend requirements paired with the compliance expertise of the MedPro Compliance Advisory Services team.
View the official press release here.