Fayetteville native Tracy Simpson started her journey in founding Clinicpass in 2014, after 16 years in the pharmaceutical industry. The Affordable Care Act included the Physician Payments Sunshine Act, which went into effect in 2013. It was designed to disclose any financial relationship a doctor had with a manufacturer. It required medical product manufacturers to disclose to the Centers for Medicare and Medicaid Services (CMS) “transfers of value” made to physicians. Such gifts would have occurred frequently and invisibly in the past. Now payments or transfers of value have to be reported to the CMS by the giver, and are available and searchable in the Open Payments database. The American Medical Association now recommends that providers keep their own records of money spent on them to comply with the Sunshine Act.
Such reporting generates bothersome red tape for manufacturers, and Simpson thought there was a solution for the problem that could benefit both manufacturers and physicians. Clinicpass not only facilitates pharmaceutical rep reporting, but also allows medical providers to verify the accuracy of the records and to prepare to respond to possible questions from the public.
The Clinicpass platform also functions as a scheduling tool for physician meetings with product reps, who in times past simply waited in medical offices until a doctor could make time to see them. During Simpson’s career, she observed as regulation and reporting requirements for doctors drastically eroded the amount of time physicians had to interact with reps. Clinicpass provides structure and a record of who has called on a practice and when. Simpson believes the platform will ultimately accrue benefit to the patient, as easier scheduling keeps clinic doors open to insure that reliable information and patient assistance programs are conveniently moved into the hands of doctors.
Simpson and business partner Padgett Mangan beta-tested the tool for a year and a half in a Memphis-based medical management group, while four hundred pharmaceutical representatives used the site. Clinicpass was one of five finalists for the Delta Regional Authority Delta Challenge Sept. 13. Simpson will be traveling to New Orleans in November for Entrepreneur Week 2017.
Simpson was the Harding chapter of the Sigma Nu Tau Entrepreneurship Honor Society’s 2016 distinguished honoree. Her best advice for entrepreneurs looking to solve problems with an app-based solution? “The best advice I can give is to test your idea,” Simpson said, “and surround yourself with positive people. My biggest hurdles turned out to be my biggest blessings.”