P R E S S R E L E A S E
Los Altos, CA – June 17, 2011 – Concur® and Bio-Ops are pleased to announce that they have formed a new strategic alliance.
The current regulatory environment is calling for greater transparency of the interactions between pharmaceutical, medical device, medical supply companies and healthcare professionals, and a large number of these interactions are recorded in expense systems. Concur®, with its highly customizable expense reporting platform, facilitates the collection of the detailed information that will be needed to generate reporting mandated by the Physician Payment Sunshine Act.
Bio-Ops specializes in helping pharmaceutical & medical device companies design & implement business processes and programs, to ensure commercial success and compliance.
The Physician Payment Sunshine Act (PPSA) will require that all “transfers of value”, beginning 1/1/2012, between pharmaceutical, medical device, and medical supply companies be recorded, and reported in detail, for all 50 states. Preliminary requirements are available with the final requirements expected to be released by October 2011.
Bio-Ops understands the initial requirements and has been working with its clients to adapt and improve their current systems and processes or build new ones to facilitate the collection of required data. Information from multiple sources of reportable “transfers of value” must be united in a central repository allowing for the creation of an aggregated file. This file will support interim “transfer of value” tracking and the eventual mandated reporting according to the final PPSA requirements.Bio-Ops was founded in 2001 and is headquartered in Los Altos, California
About Concur®: Concur® is a leading provider of integrated travel and expense management solutions. Concur’s easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur’s systems adapt to individual employee preferences and scale to meet the needs of companies from small to large.
• Founded in 1993
• Headquartered in Redmond, WA with offices across Europe and Asia Pacific
• Servicing over 10,000 clients located in more than 90 countries
• High client satisfaction with more than 95 percent client retention
• Total revenue was $292.9 million for fiscal 2010, up 18% year over year