Article
Identification of Medicinal Products
Think Transformation
Identification of Medicinal Products (IDMP) is one the biggest regulatory challenges for all pharmaceutical companies operating in Europe. How can your organisation navigate this journey towards increased patient safety and use it as an opportunity for business transformation?
The building blocks of IDMP implementation
The potential benefits of meeting evolving Identification of Medicinal Product (IDMP) requirements extend far beyond regulatory compliance. Through IDMP implementation, pharmaceutical companies can unlock the power of product data to transform their business and improve patient health.
IDMP is a set of five data standards from the International Organization for Standardization. Under the IDMP standards, pharmaceutical and biotech companies will be required to electronically submit detailed product data and maintain it on an ongoing basis.
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The IDMP imperative
Over the next few years, pharmaceutical organisations will be mandated to electronically submit and maintain product information on an ongoing basis. This new regulation is one of the biggest regulatory challenges for pharmaceutical companies in Europe and will drive organisations to make significant changes to their current product-related processes and systems, ushering in a new era of cross-functional collaboration.
IDMP will be a game-changer in terms of using process and technology integration to improve patient safety. IDMP will provide companies with an opportunity to make product data work more effectively from a business perspective via improvements in data quality and usage.
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Beginning the journey to IDMP readiness
IDMP’s broad and cross-functional scope requires a corporate-wide effort to align on standards, master data management, data governance, and identification of authoritative source systems. This presents a pharmaceutical company with an opportunity to transform how it manages data across the entire lifecycle of a medicinal product.
The first and most crucial step towards achieving IDMP readiness is to understand where the relevant data is residing within the organisation or externally. A thorough and diligent fit-gap analysis can provide a solid understanding of the current state and highlight any gaps that must be bridged to reach compliance.