Automating Healthcare & Pharma Compliance

Chennai: Aparajitha Corporate Services Private Limited, India’s no. 1 company for Compliance, today organised a Global Compliance Webinar on how automation can help healthcare and pharma companies tackle their critical compliance challenges.

The virtual session was about understanding compliance management and the importance of compliance digitization as an integral part of any organisation’s ethics and culture.

Speaking on the importance of the session, Mr Rajesh, Chief Marketing Officer, Aparajitha Corporate Services Private Limited said, “Policies and procedures play an integral part of every healthcare and pharma set-up…and they should. They provide companies in these sectors with the clarity they need to run smoothly by streamlining processes. Beyond this, these policies also offer guidance for informed decision-making by supporting compliance. With increased regulatory changes, compliance in the healthcare and pharma sectors is all set to become a little more challenging than it used to be earlier. One major trend to watch out for is the substantial increase in digital transformation in terms of automation, which now seems to be the only way out of compliance roadblocks in these ever-growing sectors. Technology in compliance management can immensely help in keeping healthcare and pharma companies compliant. It is imperative for the companies in these sectors to adopt a holistic approach by aligning the compliance strategy into the overall business strategy.”

Aparajitha’s Global E-Governance and Compliance Platform are an online Compliance Management Tool on a cloud platform designed to global standards with a combination of sector / industry-specific knowledge, with compliance metrics within the legal framework & policy standards of the region. Technological insights uniquely position our teams to work with organizations to achieve end-to-end digital transformation. From strategy to processes to tech enablement to regulatory changes, Compfie takes a holistic view of how country-specific laws, platforms, and compliance output behaviours across the front, middle and back offices need to evolve.

Compliance-related aspects discussed in the session included:

Abiding by the applicable labour laws like Payment of Wages Act, Gratuity Act, EPF Act, etc
Preventing the serious consequences of non-compliance with labour laws
Having easy access to the current policies with real-time updates
Streamlining the internal and vendor audit processes

Using technology, several organisations have reduced their missed compliance by over 90 percent, and penalties by over 95 percent. Digital apps have made key processes transparent, accountable, and timely. Software-based solutions have helped manage repetitive and non-value-adding activities, saving both time and money.