Three Bridges, N.J. – January 22, 2008 — iContracts, a leading provider of solutions for managing corporate commitments, today announced that American Regent, Inc., a Pharmaceutical Company specializing in Generic Injectables and Injectable Iron products, has successfully completed the implementation of iContracts’s Better Contracting Solutions (BCS) platform and accompanying Medicaid solution, iContracts MedicaidCalculator. iContracts’s powerful next generation solutions, available on-demand or behind-the-firewall, will help American Regent satisfy DRA Final Rule requirements including AMP and Best Price reporting, reporting and recordkeeping requirements, disclosure of AMP to states, reimbursement issues, and state collection of rebates on physician administered drugs.
Joann Gioia, Senior Manager of Contracts and Chargebacks of American Regent, commented “iContracts Medicaid suite fully satisfies the requirements mandated by the DRA Final Rule. The system’s flexible calculator allows us to easily model compliant programs, while the powerful processing engine and execution workflow insure calculations are prepared accurately and quickly. iContracts MedicaidCalculator is quite simply the most powerful, easy to use solution available on the market today for companies of any size who want to spend more time on business and less time managing Medicaid and associated programs.”
“We are deeply gratified that American Regent and many other companies are realizing value so quickly from our powerful solutions”, observed Omar Bey, Chief Technology and Application Officer of iContracts. “In a fraction of the time and cost required to implement alternatives, American Regent was able to deploy a product built from the ground up to satisfy the new requirements of the DRA and flexible enough to withstand the constantly evolving needs of a complex business process.” Bey concluded, “We are honored to be working with great companies like American Regent on critical initiatives including the management of Medicaid processes and DRA compliance.”
iContracts solutions are available as an “on demand” service or as a behind-the-firewall offering and are built on iContracts’s revolutionary BCS platform featuring an advanced data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic screen formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs.
About iContracts
iContract’s goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with more experience in building contract management solutions for the Life Sciences industry than anyone on the planet! This deep understanding and straightforward approach shows in everything we do. iContracts comprehensive suite of solutions manages all aspects of a Life Science company’s chargeback, rebate and Medicaid processes as well as other incentive agreements and Government Pricing compliance at all levels. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.
This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include: the risk of unforeseen technical or practical impediments to planned software development and other risk factors set forth from time to time by the Company.
CONTACT: iContracts, Inc.
Anne Ambrosio, 908-393-9550
aambrosio@icontracts.com