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Contracts & Chargebacks
Time pressures, transaction volume, and requirements for data accuracy combine to make managing chargebacks a significant challenge for many Life Sciences manufacturers. Managing currently active Group Purchasing Organization (GPO) contracts with memberships numbering in the thousands while also processing manual and electronic chargeback submissions can be overwhelming for small to mid-size manufacturers.
In fact, studies indicate that for most pharmaceutical manufacturers, nearly one-fifth of chargeback lines are handled manually, underscoring the need for software that not only automates processes but also ensures data quality, decreases overpayments, and provides the audit trails mandated by regulatory requirements. That's where Ross Enterprise solutions come in!
Specific chargeback challenges addressed by CDC Software's Ross Enterprise software include:
- Data volume
- Non-standard pricing
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- Management fees and rebates
- Regulatory compliance
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To address these and other challenges, Ross Enterprise provides:
- Effective contract management
- Up-to-date memberships and pricing
- Automatic chargeback validation
- Standard EDI transactions (844, 845, 849)
- Automatic updates to AR and GL
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- Automatic fee and rebate accruals
- Validation of fee and rebate payments
- Medicare/Medicaid reporting
- Comprehensive reporting and analysis to assist with contract performance, contract negotiations, pricing compliance, and AMP calculations
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By automating the chargeback validation process and having up-to-date information on contracts, prices, and memberships, pharmaceutical manufacturers ensure that only valid credits are authorized and processed, reducing both the amount of labor they expend, and the volume and amount of their unauthorized deductions. Because each un-validated chargeback erodes the manufacturer's margin and quickly amounts to significant financial loss, the stakes are high. To address these and other challenges, Ross Enterprise provides a proven, cost-effective Chargebacks solution, designed specifically for Life Sciences manufacturers.
In addition to the information provided on these pages, we also invite you to visit our Life Sciences Resource Library for complimentary document downloads on a range of topics in Life Sciences that may be valuable to you and your organization.
And please remember that regardless of your specialty within the Life Sciences arena, we'd like nothing better than for you to talk to a current client whose business falls in your area of expertise. Just contact us, and we can make that happen too!