Final Ruling on Physician Payment Sunshine Act Emphasizes the Need for Kyruus’ Physician-Industry Interactions Solutions

BOSTON--(BUSINESS WIRE)--The Centers for Medicare and Medicaid Services (CMS) recently announced the final ruling of the Physician Payment Sunshine Act – outlining the specific details of a database that will list payments made to physicians or teaching hospitals by applicable manufacturers of drugs, devices, biological, or medical supplies. The increased transparency is intended to reduce the potential for conflict of interest that physicians or teaching hospital could face as a result of their relationships with manufacturers. The data will be released publicly on September 30^th, 2014 through an electronic reporting system.

“These solutions enable us to efficiently monitor and benchmark our physician-industry interactions while immensely reducing the administrative overhead for our physicians and compliance staff.”

“The final ruling of the Sunshine Act certainly brings more attention and scrutiny to the relationships amongst physicians, researchers and outside business interests,” notes Leon Goldman, former Chief Compliance and Privacy Officer at Beth Israel Deaconess Medical Center and now Chief Privacy Officer at Kyruus. “There are many implications to the ruling,” explains Goldman, “including the continued collection of conflict of interest (COI) disclosures, comparing internal records to what is reported in the Sunshine Act public website, and integrating electronic systems that can easily share COI information throughout different parts of the organization. As a result, institutions must consider updates to legacy technology systems and processes, as well as methods for reducing the administrative cost to their clinicians and researchers.”

Kyruus solutions provide external data monitoring, dispute management, and pre-populated disclosure applications to help ensure the accuracy of physician reporting while reducing administrative overhead. In a national survey of physicians in 2012, Kyruus found that nearly 80% of physicians would like the compliance office of their affiliated hospital to help monitor and notify them of any public mentions in industry disclosure databases. Graham Gardner, CEO and Co-Founder of Kyruus, notes that “Kyruus’ services have already engaged thousands of physicians at several leading healthcare organizations in the self-review of their own public data.”

“With Kyruus’ solutions in place, our physicians are able to monitor and manage their public data in preparation for the PPSA,” says David Blake, Chief Compliance Officer of Cedars-Sinai Medical Center, “These solutions enable us to efficiently monitor and benchmark our physician-industry interactions while immensely reducing the administrative overhead for our physicians and compliance staff.”

About Kyruus

Kyruus is a leading Big Data company that enables hospitals and health systems to take a data-driven approach to building, operating, and optimizing their physician networks. The first-in-class KyruusOne^TM data mining and analytics platform creates a “unified view of the physician” across demographic, clinical, research, financial, and performance-related dimensions. Kyruus’ purpose-built search, analysis, and workflow applications deliver measurable ROI in areas of network development, regulatory compliance, and referral network management by directly engaging physicians to help reduce their administrative overhead, optimize decision-making, and increase the efficiency of their clinical practice and research activities. For more information, visit www.kyruus.com.