Verisys: Acing Compliance with Rich Data and Technology

Verisys: Acing Compliance with Rich Data and Technology

CIO VendorLauren Howard, VP
Transparency is one of the most crucial factors when it comes to compliance in healthcare. The Pharma industry acknowledges it is in the best interest of patients and healthcare business stakeholders to have an accurate, complete, and timely view of the individuals and entities you do business with—both internal and external. The challenge remains that the pieces of data relating to an individual or entity are buried at the state and local level, many not publically available. This lack of transparency increases business risk and makes it difficult to guard the gate of an organization and protect patients.

Verisys, a healthcare technology company and credentialing services provider, recognizes the predicaments faced by the industry and improves the process of verifying and monitoring individuals and entities. The firm connects into thousands of primary sources, including databases maintained by state and federal agencies. Verisys allows organizations to make data-driven decisions to protect health seekers and ensure compliance. The company’s journey is driven by over 25 years of extensive experience serving in healthcare compliance. “We see our role as solving a complex puzzle in healthcare that is ever-changing. We must pull all the accurate records of data and then link those to the right individual. Every day that individual’s data puzzle is expanding and changing. Solving for this requires rigor, expertise, and technology. It’s too much for our customers to keep up with on their own, and leads to costly gaps in compliance,” adds Lauren. “With the potential for significant penalties and reputational damage, ensuring compliance with screening requirements is an essential piece of conducting business in today’s industry” said Verisys Compliance Officer Jennifer Gillespie.

Whether it is a physician contracted to speak, an independent pharmacy in the supply chain, a clinical researcher, or a vendor relationship; each and every one of these business relationships can pose risks to your organization if the individuals and entities are not properly vetted and monitored.

Every day that individual’s data puzzle is expanding and changing. Solving for this requires rigor, expertise, and technology

The company’s end-to-end enterprise platform solution CheckMedic, eliminates the need to check the credentials at multiple operating sites and subsequently expedites the recruitment process. CheckMedic produces a MedPassdigital profile, which verifies the information pertaining to an individual or healthcare provider. Verisys continuously tracks the verified MedPass to ensure that the credentialing data is up-to-date. Much of the data pertaining to individuals and entities is dynamic – monitoring and alerting of any status change is imperative. Using CheckMedic, pharma manufacturers, and other healthcare organizations can view the status on all licenses, monitor against exclusions and disciplinary actions, while incorporating traditional background screening verifications and other credentials if desired. Verisys is unique in that they are both URAC accredited and NCQA certified.

Verisys’ fraud abuse control information system (FACIS), the gold standard in compliance, contains information about exclusions, sanctions, debarments, and disciplinary actions against healthcare professionals and organizations for all published license types and publishing jurisdictions. Pharma manufacturers leverage this continuously monitored data set as a critical verification for all employees, consultants, and vendors. Many extend this verification to include verifying all healthcare providers they call on and sample.

Verisys is able to deliver these services by leveraging technology and talented data investigators to pull in primary source data from over 5,000 sources to create a 360-degree dynamic profile on individuals and entities you do business with; and does so with 99.9 percent accuracy. This complete view paired with ongoing monitoring provides the transparency needed to protect organizations and the patients they serve. The Utah based company currently serves over 1700 customers in all segments of healthcare; Pharma, Pharmacy, Payer, Hospital, and Government.
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