Bring insights to your managed markets group to reduce risks and improve efficiency

Covance’s Managed Markets Services supports life science companies’ commercial and government contracts.  We can oversee the contract strategy governance process, provide contract set-up, contract maintenance, and performance monitoring across managed care rebates, Medicaid rebates, chargebacks, and government pricing.

Services

Contract Strategy Governance

• Oversee the process of tying high level contract objectives to individual contracts
• Develop a clear understanding of contract criteria and expectations for each contract created, ensure that the key stakeholders has been identified that will be apprised of findings, and take timely action to address areas of concern

Contract Set-up

• Understand overall contract strategy and align operational tasks to track to expectations
• Setup contract criteria to evaluate and alert you when contract objectives are at risk
• Capture and store contract terms in the system
• Maintain customers, products, and membership and eligibility lists to ensure contract compliance

Contract Management

•  Receive claims information and standardize data
• Validate and scrub claims
• Perform claims adjudication and calculate settlements
• Produce “clean” and “unclean” data files
• Estimate accruals needed to accurately match chargeback / rebate liabilities 

Evaluation and Performance

• Analyze contract performance based on the tracking criteria over the lifecycle of the contract
• Monitor actual contract performance versus expectations
• Adjust share-based contract terms over the course of the contract
• Utilize data provided to better understand overall brand performance and accrual allocation for chargebacks and rebates

Features

• Flexible, just in time staffing
• Up and running in ~13 weeks 
• Content knowledge and experience 
• Proven methodology 
• State of the art technology

Benefits

• Covance’s technology eliminates the need for costly system deployments, maintenance, and upgrades 
• Just in time staffing models allow you ramp-up and down as needed and to leverage internal resources for strategic and core activities 
• Increased visibility into contract performance allows you to react quickly.  
• Visibility into rebate and chargeback accruals lets you make accrual adjustments if necessary