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Reduce your regulatory risk with medical grants software

May 09, 2024
Doctor working on medical report with laptop and document file.

Your life sciences organization is doing critical work to improve patient well-being through programs that support effective research outcomes, streamline access to treatments, and provide high-quality educational opportunities. Whether you are managing expanded access, research grants, or medical education programs, maintaining compliance is key for saving lives and continuing to expand your programs globally.  

Unfortunately, maintaining compliance can be difficult when regulatory requirements can change based on a variety of factors, including grant type, country, disease, therapeutic area, or product. To help navigate the complex and rapidly evolving regulatory landscape, life sciences companies of all sizes — from emerging and mid-size to some of the largest in the industry — use medical grants software.  

In this blog, we’ll explore three key ways that medical grants software can help you ensure compliance while reducing manual work for your teams.  

For even more ways to improve the medical grants process with secure, flexible, and scalable software, download our complete guide, “Take your medical grantmaking process from fractured to functional.”

Increase transparency with a single source of data

To ensure regulatory compliance, grant administrators need a quick and easy way to access program insights, like how grant funds are being used, where continuing education money is going, and which doctors receive your products or treatments.  

Without a dedicated tool for grants management, this data is often housed in multiple systems that don’t communicate with each other or is trapped in spreadsheets and emails. As a result, grants administrators must navigate multiple systems to find critical information, limiting program transparency and visibility and taxing your team’s resources. This can create issues when tracking requests and forecasting payments after the initial grant approval.   

With Bonterra’s medical grants software, all grant programs within all countries feed into a a unified data warehouse, creating a single source of truth for reporting outcomes, budget reconciliation, and study milestone updates. With the ability to track a grant request through its entire lifecycle — from submission all the way to impact reporting — users can quickly identify the status of a grant request every step of the way.  

By increasing visibility, program administrators can more easily ensure compliance and gain back valuable time that would otherwise be spent navigating multiple systems, spreadsheets, and emails for information.  

Simplify your compliance checklist 

During the review and approval process, your teams are tasked with ensuring that privacy and compliance requirements are being met. But when regulations are subject to change from country to country, this process can be tedious and time-consuming if it’s handled manually. Plus, your company likely has standard operating procedures (SOPs) that need to be followed, adding an additional layer of requirements to an already complex process.  

With medical grants software, you can minimize manual work, simplify processes, and feel confident that your programs comply with global regulations and internal SOPs. When you partner with Bonterra, we'll help you integrate the platform with the Office of the Inspector General (OIG), Food and Drug Administration (FDA), and other internal watchlists, as well as enable automated alerts and warnings for potential compliance risks.  

This ensures that your internal processes and requirements are being followed while removing the need to manually review guidelines for compliance. As a result, you’ll reduce administrative work while easily ensuring that your programs comply with global regulations.  

Create one hub, connected to everything

Across all of your medical grants programs, you likely have multiple systems that need to interact with each other. But with different users entering data into various systems, you run the risk of manual error and duplicate data, increasing your potential for non-compliance.  

When you implement Bonterra’s medical grants software, you can integrate your platform with every system that interacts with your programs. Bonterra’s platform functions as the hub for your entire process, pushing and pulling data into each system and creating a single source of truth. Here are three examples of how this works:  

  1. With Bonterra’s medical grants software, users can integrate their system with eSignature providers (like DocuSign) to sign and execute agreements while complying with industry and region-specific laws and standards for electronic signatures and identity verification. 
  2. For expanded access programs, Bonterra’s platform can integrate with your drug or product supply system. This two-way interface allows access to additional product data points directly within the system to simplify reporting. It also ensures the product inventory system stays up to date with accurate information, that orders can be fulfilled on time, and that data isn’t misinterpreted. 
  3. Users can also integrate Bonterra’s platform with their accounts payable (AP) systems to automate disbursements while serving as the system of record for all payments related to medical grants.  

See why life sciences companies of all sizes trust Bonterra 

Spend less time worrying about compliance and more time saving lives when you partner with Bonterra for medical grants management. With a unified data warehouse, built-in alerts and warnings, and system integrations, you’ll seamlessly navigate evolving regulatory requirements and unlock unprecedented visibility across your full suite of programs.   

For even more ways that Bonterra’s medical grants software can improve your grantmaking processes, download our complete guide, “Take your medical grantmaking process from fractured to functional.” 

And if you’re ready to partner with Bonterra’s team of experts to build a tailored, long-lasting, and scalable medical grants platform, request a demo today

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