Baker Tilly and Definitive Healthcare enhance life sciences compliance

CHICAGO (July 10, 2024) – Leading advisory, tax and assurance firm Baker Tilly announces its collaboration with Definitive Healthcare to streamline fair market value (FMV) and key opinion leader (KOL) compliance procedures for life sciences companies. Leveraging Baker Tilly’s decades of life sciences industry expertise and Definitive Healthcare’s Monocl ExpertData, which facilitates the integration of expert data into internal systems and applications, this collaboration aims to set a new standard for compliance in the life sciences industry.

By providing life sciences companies with robust and defensible methodologies for FMV determination and KOL management, this collaboration addresses the industry's talent scarcity challenges, including those with specialized disease state expertise. Baker Tilly’s models prioritize transparency and defensibility, enabling clients to confidently navigate compliance challenges.

“We are thrilled to leverage Definitive Healthcare’s rich KOL data and enhance it with our unique insights and industry expertise,” said Darren Jones, Baker Tilly principal and life sciences industry leader. “Together we are delivering cutting-edge technology and data analytics to deliver actionable insights and advance life sciences compliance.”

The 7.4 million-plus KOL profiles in Baker Tilly’s kolNOW platform are enriched with robust data elements from Definitive Healthcare’s extensive dataset, including publications, clinical trial activities, awards and honors. With data from more than 219 U.N.-recognized countries, Definitive Healthcare’s intelligence significantly extends the global reach and impact of Baker Tilly’s platform.

"This collaboration marks a pivotal moment, bringing the unmatched scale and reliability of Definitive Healthcare’s KOL data together with Baker Tilly’s advisory expertise to amplify our collective impact in the life sciences industry," said Kristoffer Gustafsson, vice president of product for Definitive Healthcare. “We look forward to supporting our shared clients as they face the complexities of compliance and the regulatory landscape.”

“Working with Definitive Healthcare allows us to deliver innovative solutions that address the unique challenges facing life sciences companies of all sizes,” said Samantha Sutherland, Baker Tilly director, life sciences consulting. “Our collaboration provides unparallelled coverage and insight into the healthcare landscape.”