Thursday, August 4, 2011

Conflict of Interest Compliance: Paper or Web-based Solution?

The business processes and administrative procedures at healthcare organizations are tightly controlled and regulated. Yet the information technology systems that run these organizations are used by a wide variety of professionals whose attention is more focused on good medicine and research.

Conflict of interest (COI) compliance is a complex discipline with many moving parts. In large healthcare organizations, with many projects and research professionals, the process can be daunting. Manual compliance processes are time and resource intensive and most off-the-shelf systems are woefully inadequate for managing COI compliance in medical research, leaving organizations with substantial risk and liability exposure.

To address this problem, institutions are moving over to web-based compliance management systems to take the place of existing paper-based manual methods. They are designed to reduce risk, reduce cost, save time and increase productivity. Osprey Software Solutions has introduced Osprey COI RiskManager™, an enterprise-class compliance management system designed with the guidance and support of Partners™ Healthcare.

“After more than three years of use and rigorous testing at Partners HealthCare, we are confident that Osprey COI RiskManager is a reliable, efficient, and user friendly solution to report and proactively identify potential conflict of interest issues at medical organizations,” said Scott McNeal, Director, Research Enterprise Applications at Partners HealthCare.

As research projects continue to grow and COI compliance becomes more complex, more and more institutions will be trading up the paper process in favor of web-based solutions to streamline the management process.

About Osprey Software Solutions
Osprey Software Solutions, Inc. is a premier team of experts in the design and development of complex business applications. Osprey has assembled one of the most highly regarded teams of architects, engineers, and consultants in the software development business. The Osprey team has an outstanding track record in the design and delivery of large scale, advanced business systems in a variety of industries, including: Financial Services, Lending, Energy, Healthcare, and Defense.

For more information about Osprey’s COI RiskManager please email Michael Vidoni or contact him by phone 888.677.7394, ext.1004.