Health Market Science Announces Commercial Release of CompleteSpend V2.5

King of Prussia, PA - August 11, 2009- At the CBI3rd Annual Forum on Tracking State Laws and Aggregate Spend, Health Market Science announced the commercial release of CompleteSpend™ V2.5.  CompleteSpend is the market leading SaaS solution for pharmaceutical and medical device aggregate spend compliance needs. 

Myriad state and pending federal laws have proliferated making compliance challenging.  Managing the diversity of these laws and the complex customer master data requirements across an entire life science organization is the strength of CompleteSpend.  CompleteSpend is an end-to-end solution designed to aggregate, track, alert and report on disparate Health Care Practitioner (HCP) and Health Care Organization (HCO) spend. It is the first and only solution to combine all the necessary elements to address the aggregate spend issue:

  • Feature rich software
  • Hosting and user management
  • Individuals MasterFile
  • Organizations MasterFile
  • Customer Data Integration (CDI) services for scrubbing and matching expense records
  • Spend ROI analytics

Fueled by the dynamic market conditions and recommendations from its client base, HMS enhanced CompleteSpend by integrating key features into V2.5.

New Features:
  • Report Submission Archive
  • Budgetary Status for Spend (Planned vs Actual)
  • Email Configuration Management
  • Promotion ROI analytics

Enhancements:

  • Employee as Recipient of Spend
  • Extended HCP Search Criteria
  • Enhanced Company/Division Support
  • Expanded Tracking and Exporting Criteria
  • Expanded Data Defaults for ease of Spend Consumption
  • Expanded Feed Business Rule Set
  • Feed Frequency Schedule (Daily, Weekly, Monthly or Quarterly)
  • Assignment of Default Financial Status for Feed
  • Assignment of Default Company for Feed
  • Expanded State Rule Set
  • Improved Sub-Report Support
Based upon the rich solution set and HMS’ experience managing complex customer master information, CompleteSpend V2.5 was recently selected as the aggregate spend solution for a top 10 pharmaceutical company.  This client will be utilizing the full CompleteSpend solution set including the HMS MasterFile and CDI services.

“CompleteSpend was chosen based on HMS’ deep aggregate spend experience and the end-to-end solution set HMS provides.  Our client understood that CompleteSpend offered the full stack and understood the differentiation HMS offered in each component,” commented Zach Henderson, VP of Marketing, Product Development and Analytics.  “We continue to see CompleteSpend differentiate itself from other partial solutions or software toolkits as clients turn to HMS for guidance on addressing the entire aggregate spend challenge.”

CompleteSpend™ has repeatedly proven to reduce the cost and resource burden of aggregate spend compliance while providing the necessary software, data and remediation services.  In a time where cost efficiencies are imperative, CompleteSpend is a complete, packaged solution with a low total cost of ownership (TCO).

As part of its efforts to team with life science clients, HMS is co-sponsoring CBI’s 3rd Annual Forum on Tracking State Laws and Aggregate Spend August 11-12, 2009.  Mitchell Chi, Senior Vice President of Health Market Science, is presenting Navigating the Aggregate Spend Technology Evaluation Process.

About Health Market Science

Health Market Science is the leading source for healthcare provider data, software and advanced analytics in the United States. Health Market Science has developed unique technology and expertise to continuously acquire, analyze, and integrate over 2,500 distinct data sources to create and maintain the single most comprehensive and accurate source of healthcare provider information available today.

Serving all segments of healthcare, including pharmaceutical manufacturers, biotech’s, device manufacturers, payers, providers, and pharmacy chains, Health Market Science is the only company that offers claims information, advanced analytics and the master data management data and solutions that powers them. This unique combination results in dramatically higher data accuracy and reliability, enabling our customers to increase revenues, drive operational efficiencies, achieve regulatory compliance, and maximize market opportunities.

Recognized on the Inc. 500 and Deloitte's Technology Fast 50 Program as one of the fastest growing private companies in the United States, our more than 200 customers include all of the top 20 pharmaceutical manufacturers, 10 of the 15 largest device manufacturers, 3 of the top 4 pharmacy benefit managers and 3 of the top 5 pharmacy chains. Health Market Science is a privately held company located in King of Prussia, PA.

For more information, visit www.healthmarketscience.com/completespend or contact Zach Henderson at 610-994-5107.