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Pharmaceuticals

 

Manage complexity in pricing and distribution

 

Pharmaceutical companies are challenged today with increasing competitiveness, growing regulation and pricing pressure. Of paramount importance? Greater transparency and management of their complex customer relationships, specifically those with Managed Care Organizations.

While companies rely on rebate management technologies for operationalizing their relationships, they still lack fundamental visibility. Furthermore, frequently changing terms, complex, index-based pricing and nuanced rebate terms make staying on top of relationships nearly impossible. To ensure compliance and revenue capture, companies are forced to turn to emails and spreadsheets.

Pramata normalizes the complexities between MCO rebate agreements and makes this data available so anyone can act on it ensuring rebate payments are met and compliance risks are mitigated.

  • Improve pricing strategies through a common understanding of complex rebate schedules

  • Ensure accurate rebate payments for existing customers and new deals

  • Automate CMS Best Price compliance processes and best price calculation

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Case Study: Health Data Analytics
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WHY PRAMATA FOR THE PHARMACEUTICAL INDUSTRY?

Pharma industry leaders use Pramata as the commercial relationship system of record for digitizing and optimizing pricing strategies and ensuring compliance.

 

Pricing Strategy

Challenges updating rebate schedules can lead to incorrectly billing customers, often adding up to millions of dollars per year. Pramata reconciles invoices to rebate schedule actuals to ensure accurate billing. It provides insight into rebates to improve and support negotiation and visibility into best price clauses that impact compliance.

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Expiration and Termination

Modified or discontinued products, company acquisitions and more can impact rebate payments and risk exposure. To respond to these events, Pramata helps you assess the impact of product and rebate changes across the customer base, ensuring all SLAs are being met and monitor areas of risk across product lines and customers. 

 
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CMS Best Price Compliance

Violating the CMS Best Price provisions can have significant financial and brand ramifications. Unfortunately, knowing that you are compliant requires understanding the lowest potential price offered to the rest of your customers. Pramata automates this process so you have 100% confidence in your compliance.

Centralized Access, Automated Data

Centralize access to core customer documentation. Automate the management of rebate, pricing, and other contract data so your team never has to enter data into spreadsheets or rebate management systems again.