Mission-driven stewardship in healthcare — stewardshipNOW
stewardshipNOW is a comprehensive technology-enabled solution designed to align stewardship funding initiatives with corporate values while ensuring compliance and maximizing impact.
Mission-driven stewardship in healthcare — stewardshipNOW
The life sciences industry is a leader in corporate social responsibility, returning billions to the healthcare community every year through support for independent medical education, investigator-sponsored research and charitable contributions. While providing funding to appropriate organizations carries significant compliance risks, it remains a critical component of delivering overall value to the healthcare sector.
Philanthropy and funding stewardship in life sciences
Life sciences companies play a vital role in advancing healthcare by funding physician networks, teaching hospitals, medical societies and patient advocacy organizations. Contributions including charitable donations, medical education grants, clinical research grants or corporate sponsorships, provide essential financial support while fostering innovation and patient care. However, managing these funds responsibly requires careful oversight to ensure compliance and ethical integrity.
stewardshipNOW, powered by MediSpend, is a comprehensive solution that helps life sciences organizations manage funding activities with transparency, compliance and strategic impact. By automating workflows and maintaining ethical standards, stewardshipNOW ensures that contributions align with corporate values while mitigating regulatory risks.
With stewardshipNOW, life sciences companies can efficiently manage funding, support critical healthcare initiatives and uphold standards of ethical stewardship. This is further enhanced by our fund administration support services which eliminate the operational burden around the submission, review, payment and reconciliation process to allow our clients to focus on executing their external funding strategic vision.
Discover the advantages of stewardshipNOW
Stewardship in funding practices involves the ethical and strategic management of resources to ensure they are used effectively and responsibly. stewardshipNOW provides life sciences organizations:
Transparency and accountability
stewardshipNOW ensures clear communication on fund allocation, supported by regular reporting and audits, maintaining trust with donors and stakeholders while enhancing compliance oversight.
Impact tracking
The platform enables organizations to monitor and report the outcomes of funded projects, demonstrating effectiveness and driving positive outcomes.
Ethical standards
By upholding ethical guidelines and preventing conflicts of interest, funding decisions are ensured to align with organizational values and prioritize the best interests of the public.
Donor engagement
stewardshipNOW supports ongoing communication and long-term relationships by ensuring regular communication and involving donors in key activities, driving meaningful outcomes.
Streamlined processes and compliance
The tool automates workflows from request submission to payment, enhancing efficiency while ensuring adherence to regulatory requirements and reducing Foreign Corrupt Practices Act (FCPA) risks.
Operational efficiency
Our stewardshipNOW service team can provide extensive grants management support through the entire funding lifecycle from initiation through to milestones-based payment execution and closeout.
Customizable solutions
stewardshipNOW offers scalable workflows for managing grants, contributions and sponsorships, including user-friendly portals for unsolicited funding requests, increasing transparency and accessibility.
Protecting and enhancing value
At Baker Tilly, we empower life sciences organizations to embrace their role as responsible corporate leaders in the global healthcare system. We help clients develop proactive strategies that enhance brand value, manage risk and drive lasting impact. This includes crafting global philanthropy strategies, designing funding programs for continuing medical education and managing corporate sponsorships, charitable contributions and educational grants. We also implement robust due diligence procedures, approval workflows and compliance controls to ensure ethical and transparent funding practices. Additionally, we support the development of patient advocacy funding programs, including independent charitable assistance initiatives.
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Discover the possibilities of complianceNOW®
complianceNOW combines intuitive technology with Baker Tilly's advisory services, providing life sciences leaders with a comprehensive solution to enhance global operations and compliance programs.
Life Sciences Compliance Solutions – complianceNOW®
Enable your life sciences organization to improve efficiency and uphold strong compliance controls.
Fair Market Value Compensation Database – fmvNOW®
Direct access to FMV hourly rates across different KOL tiers and countries, and throughout current and past years.
Pre-Tiered Database of Global KOLs - kolNOW®
On-demand access to pre-tiered key opinion leaders based on objective, consistently applied criteria.
Global Spend Transparency Reporting Solution – transparencyNOW
transparencyNOW can help simplify and streamline your spend transparency reporting obligations across multiple jurisdictions.
End-to-End HCP Engagement Solution – engagementNOW
engagementNOW is a comprehensive technology solution for managing engagements and interactions with HCPs.
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