Article
Health care professionals payment transparency in Ontario
Be prepared for new health regulation
In passing the Health Sector Payment Transparency Act in 2017, Ontario became the first province to formally address the transparency of payments made by pharmaceutical and medical device companies to health care professionals.
In Health care professionals payment transparency in Ontario, Deloitte addresses the challenges and questions organizations may encounter with the new Health Sector Payment Transparency Act, which was passed by the Ontario government in 2017. It requires pharmaceutical and medical device companies to declare payments they make to health care professionals (HCPs) and health care organizations (HCOs).
We draw on a Deloitte study on payment transparency activity in numerous countries, which provided us with insights into current and anticipated regulatory requirements for tracking payments and transfers of value that pharmaceutical and medical device companies make to HCPs and HCOs.
Key findings from the study:
- Companies are establishing their own centres of excellence to better gain visibility into transparency related risk, to improve efficiency, and to create consistent processes.
- Automating the end-to-end HCP engagement process is not a common practice.
- Outsourcing transparency reporting operations is becoming more common.
We recognize how areas affected by transparency reporting – such as consent management, data repository, and program governance – have the potential to dramatically transform your organization. Deloitte’s experience in helping organizations navigate transformation and our global experience with transparency reporting requirements can help you embrace the future of transparency.
Please contact us for more information.
Prashant Masand
Director
416-643-8974
prmasand@deloitte.ca
Bill Stamatis
Partner
416-601-6733
bstamatis@deloitte.ca