Case Study: Generic Pharmaceutical Manufacturer Automates Contract and Compliance Processes to Facilitate Rapid Growth
This company has rapidly become one of the fastest growing generic pharmaceutical companies. Their commitment to uncompromised quality of their products and services allows them to manufacture under the highest international standards. With 130 products marketed around the world, the company’s growth is expected to increase significantly over the next few years.
To accomplish their goals, they needed revenue and compliance management systems that were easy to use and scalable to their growing business. Implementing a system with visibility into contract compliance and performance as well as improved rebate and chargeback accuracy, was a priority.
After a thorough evaluation of available software solutions, the manufacturer selected iContracts, Inc. and their Better Contracting Solutions (BCS) platform and applications for managing Chargebacks, Rebates, Medicaid, Government Pricing and compliance and Analytics/Reporting.
Combined with the need for fewer resources dedicated to the management of their contracts, the company was able to more than pay for their initial investment in less than 12 months. Specific, immediate results included:
- Immediate validation and identification of potential chargeback discrepancies
- Real time sales monitoring
- Immediate electronic notification of chargeback discrepancies with proposed resolution
- Validated data immediately available for use throughout fully integrated system (rebates, government programs, pricing, etc.)
- Time spent on data validation reduced by over 50%
- Working capital improved by over 65%
- No separate process required to prepare data for government pricing calculations