Supporting Best Price Compliance with Contracts Intelligence

Gain Control of Vital Contractual Commitments

A hyper-competitive marketplace, finite patents, and stringent government regulations force pharmaceutical executives to walk a precarious line. They constantly balance efforts in capturing market share through competitive pricing with Medicaid Best Price compliance obligations. A company's most valuable transactions become an increasingly complex series of price protections locked in multiple interrelated documents. This creates a pricing structure which, if not easily understood and readily available, exposes companies to the risk of Medicaid Best Price noncompliance. Despite this risk, most pharmaceutical companies still rely on  "brute force" tactics to compile the critical contractual information they rely on to comply with Best Price regulations.

Rely on the Most Up-to-Date Pricing Information for Compliance

The distinctive nuances of the pharmaceutical industry create difficulties in tracking and maintaining up-to-date pricing information – the foundation of best price compliance. Sales agreements typically include highly complex pricing structures containing variable rebates dependent on numerous factors. Agreements are often amended to add additional products and change critical aspects of the relationship.

Pramata Contracts Intelligence On-Demand embeds an understanding of pricing complexities into your compliance processes with enterprise-wide access to a single source of up-to-date and accurate contractual pricing information.

On-Demand Net Effective Price Calculations Powered by Contracts Intelligence

Simplify your quarter-end processes by generating net effective price reports – the lynch pin of Best Price calculations - for each of your products with the click of a button. Pramata's Contracts Intelligence Model for Pharma is designed to pinpoint and extract critical pricing information, identify price protection clauses, track the appropriate Wholesale Acquisition Costs and use this information to calculate the net effective price for each of your products. Because your intelligence is always up-to-date, the reports you rely on for compliance are just a few clicks away and always available for audit purposes.

Free up Key Resources to Make Decisions Instead of Hunting for Information

In most companies, quarterly compliance involves an arduous process of manually piecing together the interactions of documents spanning several years. This process is not only time consuming, it leaves companies exposed to the risks of missing amendments and inconsistent interpretations.

Pramata's Contracts Intelligence On-Demand Solution identifies, extracts, and maintains the vital intelligence you need, so that your company always has immediate access to your currently contracted pricing terms.