State Drug Pricing Transparency

With a growing number of states enacting drug pricing transparency laws, life sciences companies and pharmaceutical manufacturers are navigating complex and continually evolving regulations. These laws require companies to report information about drug price increases and provide information to support the price of the drug.

Porzio Life Sciences helps life sciences companies navigate these evolving requirements. Our experts are well-versed in transparency and understand price transparency to be a part of the risk management continuum that started with Health Care Provider (HCP) Spend Transparency. Leveraging our team of regulatory analysts, we give companies the help they need by continually monitoring current state drug price reporting requirements. We provide guidance to compliance teams on implementing regulations and agency guidance for both newly enacted and recently revised laws and provide timely updates so that all price reporting obligations are met within the required timeframes.

Price Transparency Reporting

With more than a dozen states requiring price transparency reporting, the Porzio Life Sciences team provides outsourced services to customers for the preparation and filing of state price transparency and price disclosure notices as required by each state. For each affected jurisdiction, we help companies by requesting the relevant data in connection with price transparency, price disclosure notices, and reporting requirements.

Reporting services include identifying relevant information, preparing disclosure notices, reports, and cover letters in the correct format for each jurisdiction, and providing detailed instructions for submitting the reports.

Porzio Life Sciences provides ongoing monitoring for any revisions to current requirements and updates on additional states that may enact price disclosure laws.

Forecasting

Changing drug prices can trigger different laws in different states. Our in-house compliance technology team is developing a proprietary price transparency reporting tool that enables our compliance experts to accurately and efficiently model different drug price scenarios and the impact various price points would have on the reporting requirements.

Our Step-by-Step Approach

Step 1: Identify if your company has a price reporting obligation

  • Evaluate to confirm that drug price transparency regulations have been triggered
  • Confirm reporting requirements and provide relevant due dates


Step 2:
Continually Monitor Legislative Updates

  • Identify and review new and emerging state and federal laws
  • Communicate changes and amendments to existing laws and facilitate compliance with additional reporting requirements

Contact Us

Interested in learning more about how the team of experts at Porzio Life Sciences can help pharmaceutical, medical device and biotechnology organizations master the evolving regulatory environment? Please reach out with any questions.

We look forward to hearing from you.