The healthcare industry is changing fast. Some of these changes are driven by new regulations, but most are driven by consumer expectations of better services at lower costs, generating positive health outcomes. With more than 85% of prescription drugs now being reimbursed through a managed care plan, the pharmaceutical industry needs to make sure that its commercial arrangements with health plans are extremely effective. Pharmaceuticals companies spend hundreds of millions of dollars adjudicating contracts with payers, providers and distributors—and end up paying out millions of dollars in discounts and rebates in the U.S. alone. The industry is therefore looking for solutions to radically enhance contract effectiveness and design pull-through programs aimed at improving customer experience and outcomes.
it is imperative for pharmaceutical companies to have:
Full visibility over the terms and obligations in payer contracts
Ability to manage and adjudicate applicable discounts and rebates
Ensure regulatory compliance with respect to pricing and contract operations
Smart contracting strategies
The ability to deliver insights to optimize spend and returns across the managed market spectrum
CloudMoyo’s Managed Market Solution helps pharmaceutical companies create complete visibility for complex supplier/partner relationships and design win-win partnerships with payer organizations and other key stakeholders. These solutions enable companies to manage large-scale contracts and create outcomes-related terms and conditions with the ability to follow up and monitor obligations.
The CloudMoyo Managed Market Solution can help generate insights on the following aspect of the business:
Contract turnaround / cycle times
Track deal quality and rebates
Understand formulary tier impact
Determine rebating strategies
Measure contract earned value
Unearth bad contracts
Terms variability, adherence
The Managed Market Solution is comprised of of a world leading contract management solution (Icertis ICM) that has been implemented at leading pharmaceutical companies, and a pre-built analytics package that delivers best in class visualization, modeling and collaboration capabilities.