fair market value service request screen - appian

Life Sciences | Governance, Risk and Compliance
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Fair Market Value Management

Ensure transactions meet fair market value regulations

According to laws and regulations a company can pay a fair market value to a healthcare provider or partner for an effort, work or service. However, payments above a fair value are considered as bribery, and so all payments must be made transparent to meet compliance.

For this process, a solution needs to ensure that fair values are followed according to regulations and overall spent does not exceed fair values of annual spend. Appian’s Fair Value Management application enables management of fair values across departments and different geographies, with:

  • Control of total annual payment to Healthcare Providers
  • Budget controlling and end-to-end payment for service process
  • Bridging legacy systems and siloed data
  • Full transparency of processes and cases in reporting and audits

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