Two Labs Launches Sunshine Transparency and Aggregate Spend Offering to Provide Transparency Reporting and Compliance Support to the Pharma Industry

COLUMBUS, Ohio, February 7, 2024 (Newswire.com) - Today, Two Labs, an Envision Pharma Company and industry leader in pharma services, officially launched its Sunshine Transparency and Aggregate Spend service. This service offering is designed to help emerging pharmaceutical manufacturers streamline their aggregate spend activities, including reporting payments and transfers of value provided to healthcare professionals (HCPs) and healthcare organizations (HCOs). 

The Physician Payments Sunshine Act (“Sunshine Act” or “Open Payments”), enacted in the United States in 2010, mandates manufacturers of pharmaceuticals, medical devices, and biologics annually disclose their financial relationships with HCPs and HCOs. Additionally, several states require manufacturers to annually disclose payments and transfers of value not covered under the Sunshine Act, with additional regulations on the horizon. Navigating this complex and constantly evolving regulatory landscape requires expertise in both legislative knowledge and data management. As the industry anticipates forthcoming enforcement and increased scrutiny, ensuring adherence to these regulations is more important than ever.  

"In an era where regulatory scrutiny is high, and the demand for transparency is paramount, Two Labs is proud to provide our clients comprehensive Aggregate Spend solutions,” said Ryan Fields, Senior Vice President of Compliance Services. “Our proactive approach ensures that our clients meet the financial regulatory requirements needed to remain compliant and transparent in this space.” 

This service is an expansion of Two Labs’ established compliance support and is spearheaded by Andy Parks, Vice President of Compliance, and Brian Fittipaldi, Director of Operations, Aggregate Spend. With a combined over two decades of experience in the Transparency reporting space, Two Labs’ Sunshine Transparency and Aggregate Spend experts bring a robust level of knowledge and proficiency to managing clients’ legislative requirements, ensuring compliance, and fostering transparency across their operations. 

Andy Parks emphasized the significance of this milestone, stating, "Our team has a strong pulse on the regulatory landscape and has extensive experience in managing reporting requirements. Working with a wide range of emerging manufacturers, we have a proven track record of supporting our partners in navigating the industry with strategic insights, collaborative solutions, and a commitment to ensuring they remain compliant with all applicable rules and regulations.”

For more information about Two Labs' Sunshine Transparency and Aggregate Spend offerings and how the company can assist pharmaceutical manufacturers, please visit https://bit.ly/3SsRslG.

About Two Labs

Two Labs, owned by Envision Pharma Group, is a leading pharmaceutical services company that partners with pharma/biotech companies, providing integrated and customized commercial solutions. We help chart the path from clinical to commercial for a new product launch and provide strategies for continued market viability for drugs on the market. Since its inception in 2003, Two Labs has led 280+ new product launches and more than 300+ in-market projects from pre-launch to loss of exclusivity. For more information, visit www.TwoLabs.com.

About Envision Pharma Group

Founded in 2001, Envision Pharma Group is a leading global technology-enabled strategic solutions partner for the life sciences industry, working with over 200 pharma and biotech companies, including all the top 20 pharmaceutical companies. Envision supports clients across the product life cycle through a comprehensive suite of services and industry-leading technology solutions that include artificial intelligence and natural language processing, commercialization and integrated strategic consulting, evidence-based scientific communications and engagement, HEOR/market access and data analytics, medical capabilities, and omnichannel solutions. Learn more at www.envisionpharmagroup.com.

Source: Two Labs