MARKET ACCESS SERVICES. Managed Markets Services

Transcription

1 MARKET ACCESS SERVICES Managed Markets Services

2 Table of contents 01 Your challenges 02 Your opportunities 03 Our services, your solutions 04 Advanced technology 05 Why Covance? 06 Get started...

3 TOC Your challenges Understanding the new realities of contract management The managed healthcare industry has undergone major shifts in the ways that pricing models, formulary tier placement, and other issues impact your ability to drive higher product revenue in a highly competitive marketplace. Today, you must navigate increasingly complex contracts with distributors, third-party payers and government agencies, and pharmacy benefits managers (PBMs). Setting up and managing these contracts can put additional strain on your already overextended To improve operational efficiency and resources and staff; yet without vigilant contract oversight, you are at ROI, you need the ability to accurately An outdated and/or inefficient contract monitor the performance of each contract risk of losing money, wasting resources, and becoming noncompliant management system requires you to and overcome these challenges: with commercial and Pharma regulatory companies requirements. face increasing address issues of: Accrual, forecast, and contract pressures of: Managing increasingly complex Limited system functionality performance visibility Shrinking budgets contracts presents significant Need for new technology investment Contract compliance Resource reduction challenges: Manually intensive contract management Regulatory pressure Content knowledge loss Manual contract management Risk of noncompliance Increased business cost Increased business costs Regulatory pressure Difficulty of accurate accrual forecasting Revenue leakage Revenue leakage Revenue leakage Regulatory pressures Auditor/regulator scrutiny Auditor/regulator scrutiny Auditor/regulator scrutiny Government audits - Optimizing managed markets growth opportunities requires alignment of your strategy and operations and careful evaluation of your: Strategic governance Cross-managed-markets communication Methodology Rise in cost pressures Increased complexity of contracts Need for technology enhancements Need for greater visibility into all processes Need to link managed markets strategy with operational practices

4 TOC Your opportunities Optimizing growth opportunities in a rapidly evolving healthcare landscape To optimize your growth opportunities in the managed markets arena, you need to link your strategic objectives to your operational practices. You need a partner who can enable you to improve operational efficiency and ROI for a minimal upfront investment. Covance offers you a range of flexible, customized managed markets solutions from a la carte services to a full end-to-end contract life cycle management system. We act as an extension of your team with advanced technology to support your needs and the ability to manage all aspects of contract setup, management, and maintenance, allowing you to focus your resources on your core business activities. Knowing you have the right team in place for flexible, adaptable, and agile collaboration. We track your actual accruals Our technology offering provides for the most accurate contract management efficiency rebate/chargeback forecast. with minimal upfront cost for you. Our solutions help you plan your initial investment and anticipate your future costs, enabling you to gain enhanced financial visibility and better forecast your cash allocations. We constantly monitor and track the risks inherent in your contracts, enabling you to take proactive action and minimize your liability. The rewards of efficient, cost-effective contract management Increased revenue Reduced operating costs Improved budget predictability Reduced external risk

5 TOC Our services, your solutions A full continuum of managed markets services delivered flexibly to meet your needs Discovery, documentation, and data transfer Identifying and addressing potential Providing data visibility into contract and Covance capabilities issues early to avoid revenue drain government compliance Discover and document current processes and Covance performance capabilities Covance capabilities Transition business processes Data validation Internal contract compliance audits Capture and store contract items in our contract Chargebacks management processing Internal government compliance audits system or your current system Tricare & Medicare Part D processing Audit findings and review reporting Provide unique end-to-end technology platform Coverage solution gap that rebates processing Identifying process and technology issues ensures your system can respond to your changing Admin business fees and needs sales rebates processing causing inefficiencies and revenue leakage Your company may be dealing with multiple contracts, distributors, payers, and products. Each one presents a unique set of challenges and risks for your brand and your in-house resources. You can benefit from a managed markets partner with advanced Understanding your needs Proactively to create managing your Keeping customized multiple you up solution contracts to date & using compliant your Monitoring system with government or ours contract performance benefits for visibility, technological resources, experience in all aspects of managed Covance capabilities Covance capabilities programs & pricing strategic insight, and reduced risk markets contracts, and strategic insight. Understand your goals Enter and critical in new operational contracts Covance factors ensures update amendments compliance with Covance capabilities Define collaboration models Manage and all scope terms and Monthly conditions average manufacturers price Analyze (AMP) contract & quarterly performance AMP over entire contract life cycle Covance can help you extend your resources and minimize Establish budgets Maintain and update Quarterly membership non-federal and eligibility AMP (NFAMP) lists Measure to ensure contract performance compliance against expectations your upfront investment in technology and staff. We offer Identify a full specific services Update you need contract to gain criteria Federal maximum as supply needed value schedule from (FSS) price Adjust share-based contract terms as needed and as our partnership while minimizing your upfront investment continuum of customized solutions to meet your needs from Enter and maintain Federal products, ceiling customers, price (FCP) class of trade, opportunities dates, membership, arise and eligibility Maintain metrics 340B public health services (PHS) Analyze pricing data to understand brand performance and inform individual services to our end-to-end contract life cycle Average sales price (ASP) brand strategy management solution. Best price (BP) Manage contract and government compliance reviews to reduce your risk of noncompliance Annual NFAMP Unit rebate amount (URA)/rebate per unit (RPU) Medicaid claims processing State reporting requirements Benefit from a managed markets partner who offers strategic insight

6 TOC Advanced technology for complex contracts Driving efficiencies, improving revenue Covance offers a unique end-to-end technology platform to ensure that you can plan proactively to meet your changing business needs and keep If up your with contract the evolving management managed system markets is outdated, industry. manually intensive, and inefficient, you may be losing more than time you may also be at risk of noncompliance, You gain access decreased to our customized productivity, revenue and wasted management resources. and Yet recognition implementing a new system or solutions without upgrade the cost to deal of system with increased implementation contract complexities or upgrades. often requires a significant investment of money and time. It can also necessitate additional resources to manually manage contracts during what may be a lengthy, complicated upgrade process. Covance Managed Markets Services offers the best of both worlds: all the cost savings and productivity benefits of our automated contract management technology with a minimal cost outlay. We can enable you to quickly increase visibility into contract performance, commercial and regulatory compliance, and accruals, while enhancing staff productivity and efficient resource allocation. Covance's customized technology solutions will help extend your resources in the most efficient and cost-effective way possible, so you can realize the best possible ROI. Customized technology solutions Flexible, robust technology solutions through BPI, our managed m arkets partner

7 TOC Why Covance? Uniquely positioned to be your ideal managed markets partner Covance understands your managed markets challenges we work closely with your team so you obtain maximum benefit from your contract arrangements. As your partner, we provide the technology and expertise to simplify contract management, optimizing each contract s value. You will gain You need a managed markets partner who better visibility into contract performance, leading understands to higher your efficiencies long-range goals and can and improved revenue, keeping you ahead of provide your competition. a customized plan and sourcing You need options a partner with expertise in today's to help you reach them quickly. complex managed markets contracts and rapidly Above all else, we are committed to operational and service excellence changing healthcare industry. Covance will configure our services to meet your You need a managed markets partner who and getting it right the first time, every time, providing specific needs you and with deliver through Covance our central will provide you with immediate You need a access managed markets partner who can help understands your specific challenges, can provide transparent, customized measurable solutions, results. facility, on-premises, or via a hybrid to our deployment. industry-leading experts, you broad overcome range of your budget challenges. and offers insight into your You need a managed markets partner who is We will collaborate flexibly with resources, your team, and knowledge of industry Covance strategic trends so governance model ensures financial planning. committed to operational and service excellence. processes, technologies, and vendors working you get the right skills, solutions, that you and insight can track to contract expectations and gain Covance will establish your needs and together budget and and supplying additional meet resources your specific needs and plan better visibility accurately for into contract performance. Covance offers We a service-based culture focused tailor our services to meet them ensuring precisely that when, youwhere, and how you the future. need us. provide the technology, processes, on you and people how to we can flexibly meet your needs, can clearly plan your investments over the long You will benefit from the confidence You will of knowing benefit from the opportunity monitorand to work track accruals and provide drive operational an accurate consistency and organizational term and optimize the value you receive. that we'll help you achieve your goals with a and true get strategic you collaborator forecast for and industry your chargebacks and longevity, rebates. and provide you with transparent and measureable results. You will benefit from reduced time, where effort, you and want to be with rapid expert keeping ramp-up, you ahead of your You competition, will benefit from higher efficiencies, improved expense, as well as the ability to better minimal plan your disruption to your operations, minimizing and your cost outlays, and revenue, maximizing reduced your risks, and optimized You will return benefit from optimized operational future financial allocations. reduced time and expense. long-term contracting effectiveness. on assets. processes and reduced expenses. Insight that leads to predictability Your business aspirations, realized Contract complexity, simplified Driving business value and performance Doing it right the first time, every time

8 TOC Get started gaining the most value from your contracts Successfully navigating the managed markets landscape Managed markets contracts continue to increase in complexity, making it ever more difficult for your company to maintain oversight, increase revenue, drive efficiency, and remain compliant. Covance understands how the evolving managed markets landscape and the changes that lie ahead impact your business. We have the experience, resources, and technology to help you gain the most value from every phase of your commercial and government contract arrangements. Get started on your path to success today. Contact Steve Medina at or visit us online at Covance is an independent, publicly held company with headquarters in Princeton, New Jersey, USA. Covance is the marketing name for Covance Inc. and its subsidiaries around the world. THE AMERICAS COVANCE ( ) EUROPE/AFRICA ASIA PACIFIC Industry-leading managed markets solutions Copyright 2013, Covance Inc. BROCMA