BOSTON, June 19, 2013 /PRNewswire-iReach/ -- karmadata (www.karmadata.com) announced the addition of a new dataset, Pharma to Physician Payments, to its freemium users and API customers. The Physician Payments Sunshine Act was enacted alongside the Affordable Care Act, requiring manufacturers of drugs, biologics, and devices to disclose research and other payments to physicians. This data will not be released to the public by CMS until September 30, 2014, but karmadata has obtained a significant amount of this data in advance and is releasing it today in advance of the Drug Information Association 2013 annual meeting.
"The Sunshine Act is a huge win for Open Data advocates everywhere" said Sean Power founder and CEO of karmadata. "Society has the right to know how their physicians and pharmaceutical manufacturers are influencing each other and the healthcare system. After all, it is the healthcare consumer that is footing the bill. While we await the full release of the data in late 2014, we have begun aggregating the data from the dozen or so pharma companies that have been required to release the data due to various violations."
"As an executive in Clinical Operations, I am thrilled to have access to this physician payment data, as one more arrow in our quiver to identifying high quality clinical investigators" said John Messina, Vice President Clinical Development at OptiNose. "Using karmadata, we can now screen have a source for identifying experienced investigators who have participated in relevant trials, along with all the other metrics they provide from sources such as PubMed, ClinicalTrials.gov, NIH Grant RePORTER, and the BioMedical Information System IND filing data."
karmadata's new dataset currently shows $187 million in payments to over 77,000 physicians (22,000 of which are principal investigators). It is expected that this dataset will greatly expand over the next few months as additional data is mined from open manufacturers. karmadata's total universe of physicians and clinical investigators is 860,000 and 300,000 respectively, and it is expected that the vast majority of these physicians will be shown to have significant financial ties to pharmaceutical, biological, and device manufacturers.
karmadata poised to disrupt the Professional Business and Information Services Industry
The current Professional Business and Information Services industry is a $100 billion + market, dominated by a handful of Big Information Vendors which utilize a corporate-only, up-front licensing model. This archaic standard effectively locks out tens of millions of would-be users and application developers who generally cannot afford the upfront costs of access. karmadata is utilizing innovative technology and cloud based scale, enabling a first in kind freemium pricing model for industry data.
How karmadata works
karmadata currently processes high value, open and private data sources on a daily basis like PubMed, ClinicalTrials.gov, the FDA Adverse Events Reporting System, the USPTO databases, among many others. These sources are primarily semi-structured text or XML, that are not linked to each other, and provide no standards for querying, analyzing, or visualizing. karmadata has processed over 100 million records to date, and identified over 6.1 million Entities that are healthcare providers, populated places, clinical investigators, diseases, organizations, drugs and more.
karmadata visitors can create "Datacards" which are meant to be mini-blogs, telling a data-driven, visualized story that is personal for the author. These Datacards can be shared easily on social media, third party websites or embedded in blogs and articles on the web. Additionally, each of the 6.1 million Entities has its own Poster, with visualizations and an index to all the world's data where that person, place, organization, product or thing can be found.
karmadata is on a mission to standardize and link the world's data and to provide easy affordable access to it, to anyone, anywhere in the world. karmadata is currently a small and enterprising team of dedicated and experienced professionals with a common goal of redefining the industry standards of how data will be resourced, collated, and shared among industry professionals and setting the gold standard for future data providers.
Currently seeking partnerships and investors
karmadata is actively recruiting investment, data provider, and technology partnerships. For more information please contact Sean Power (firstname.lastname@example.org).
Media Contact: Sean Power, karmadata, 6178070020, email@example.com
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