Due Diligence Checklist for Healthcare30 April, 2021
For those who work in healthcare – patient care, pharmaceuticals, medical devices, clinical research, or life sciences – the culmination of weeks or even years of effort is a proposal presentation. Healthcare projects that involve a due diligence process include Mergers & Acquisition (M&A), partnering agreements, licensing, and R&D that is to be presented to boards of directors and/or to potential investors.
Due Diligence — the process of preparing the proposal presentation – typically involves reams of paperwork, from archival files to documents generated in preparing the brief. The due diligence team, led by a program manager, has a core group that often collaborates with data analysts, lawyers, accountants and other professionals.
As with any healthcare endeavor, confidentiality is essential to adhere to regulatory guidelines. If the brief has a financial element, additional regulations come into play. And in a competitive environment, confidentiality is key to protecting proprietary information. The due diligence program manager must ensure confidentiality even when collaborating with team members in remote locations.
A Due Diligence Checklist speeds the process while ensuring confidentiality.
While the content of a Healthcare Due Diligence brief varies based on the content of the proposal, the process itself and its structure are similar. This is why ShareVault created a Due Diligence Checklist specifically for developing a brief. ShareVault’s Due Diligence Checklist automates the brief development process and includes built-in software that speeds document creation and review. ShareVault’s security safeguards protect every aspect of the process, including collaboration with team members in remote locations.
ShareVault’s Checklist automates the Healthcare Due Diligence process.
Organizations in a host of industries have used ShareVault’s Due Diligence Checklist to prepare their briefs. Here’s why:
- Upload the ShareVault Due Diligence Checklist to a secure virtual data room (VDR) and it will automatically create a Table of Contents with folders (called “hierarchal tags” in ShareVault)
- Add and/or delete documents with the click of a mouse. Individual documents can be linked across multiple folders
- Team members have real-time access to files, based on a set of permissions, anytime, anywhere, from any device and any web browser
- Collaboration is assured even with members in remote locations
- ShareVault features accelerated document review functionality to speed your Healthcare Due Diligence brief development
- ShareVault’s powerful search functions allow a team member to locate important documents quickly and easily
- Search results are sorted by relevance, with synopses showing how the searched keyword(s) are used in context
- As you search, view “zoomable” thumbnails that provide a quick peek of a document’s first page and use “infinite scrolling” to quickly scan a document to determine its relevance
The program manager has a set of permissions to control who has access and to which documents
- The program manager can increase security with two-step password verification
- Within a VDR, ShareVault provides maximum protection with files encrypted with AES-256, file connections are via HTTPS over Secure Sockets Layer (SSL), providing AES-256 encryption in transit
- ShareVault’s platform includes integration of Electronic Master Files (eTMF), the preferred method for pharma research companies to manage development brief content
- Additional controls can put an end-date to access and the ability to delete and/or shred documents, even after they have been downloaded
- ShareVault’s security measures work even with a collaborator is working from a remote location of unknown security quality
- Page-level Tracking provides an audit of user interaction, by date/time, activity, group, user or tag. Results can be viewed as a scrollable list or on a graphical timeline
ShareVault knows that with a Due Diligence brief, time is everything. That’s why ShareVault provides round-the-clock support from our IT team, which can answer questions and resolve issues quickly and efficiently.
The value of a great healthcare team is its ability to develop new treatments and to build a stronger healthcare organization. ShareVault’s Due Diligence Checklist allows a team to focus on that value, without cumbersome and time-consuming document processing or concerns about security.