Raritan, NJ – April 6, 2010 – iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance, announced today an initiative designed to enable all pharmaceutical manufacturers to utilize iContracts’ proven Government Pricing, Medicaid Payer and other compliance solutions to calculate and report AMP, BP, ASP, NFAMP, FCP, and 340B pricing as defined in the recent Health Care Reform Bill. This new initiative, named “iContracts Open HCRB Compliance” provides access to iContracts solutions by individual pharmaceutical manufacturers or consultants and legal firms acting on the behalf of companies, as a short term tool for navigating new requirements and if desired, a long-term, automated solution for these critical processes.
A. Leigh Powell, Chief Executive Officer of iContracts, commented “iContracts is committed to helping our clients as well as the industry fulfill the mandates of the new Medicaid and 340B programs, methodologies, and other compliance requirements. Given the urgent need for responding quickly to the challenges presented by the new Health Care Reform Bill, iContracts is taking an open, non-restrictive approach to providing manufacturers with the tools they need to reach compliance in the short and long-term. Specifically, companies or their designees can elect to use our advanced solutions on a short-term basis to model and calculate pricing and payments – often as a validation or replacement for existing internal or packaged systems that are not flexible enough to respond quickly to the requirements of the Reform Bill. In addition, the iContracts platform can be deployed as a long-term solution that will continually evolve and change along with our country’s Health Care System. Further, iContracts’ ability to deliver Software as a Service (SaaS) eliminates the need for significant investment in capital and speeds the time to compliance.”
An Open Initiative – Focused on Helping Pharmaceutical Companies and the Industry.
Any pharmaceutical company, whether it is tracking Government Pricing compliance internally or with the use of outside consultants or legal council, is eligible to utilize iContracts’ solutions to address their specific needs. For companies looking for assistance in defining or confirming compliance with existing or new requirements related to the Health Care Reform Bill, iContracts can provide expert assistance, including implementation support and access to Government Pricing expertise. Independent consultants or legal firms seeking tools on behalf of their clients are also invited to take part in the iContracts Open HCRB Compliance program.
About iContracts
iContracts delivers solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is far 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 is backed by a highly evolved data architecture – built by technologists with considerable and unique experience in building contract management solutions for the Life Sciences industry. 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 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.
iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com