The Importance of Class of Trade in Master Data Governance

4 Pages

Class of Trade (COT) categorises customers (e.g., hospital, retail pharmacy) and is critical for pricing, contracting and compliance. Misclassification can cause payment errors and regulatory issues. The industry lacks a standard COT schema, making assignments challenging. IQVIA advises best practices: use unique identifiers (DEA, HIN, 340B), align and audit identifiers in master data systems and consult multiple data sources (OneKey, NPI, AHD). Implementing master data governance with clear ownership and a comprehensive COT solution improves accuracy, compliance and operational efficiency.

Join for free to read

White Paper Best Practices for Data Governance in the Age of AI

White Paper Better Together: Epic and Holistic Enterprise Data Governance

White Paper The Importance of a Transformational Governance Process

Case Study Master Data Cleansing & Governance

More from IQVIA

Case Study Customer Data Enrichment and Data Governance Policy…

Vendor Sheet IQVIA’s Data Governance Solutions

Vendor Sheet IQVIA’s Master Data Management (MDM) Solutions

White Paper Generative AI: The Future of Pharmacovigilance

Article

The Importance of Class of Trade in Master Data Governance

The Importance of Class of Trade in Master Data Governance

You Might Also Like

More from IQVIA