Managed Markets Services - Healthcare Commercialization
Get out in front and stay ahead of this changing market. The need to understand your product story and barriers to the different channels is paramount to success. Managed Markets Services (MMS) delivers insight, control and predictability to the new realities of contract management.
Link strategic managed markets objectives with your operational practices
Shrink revenue leakage and transform liabilities into actual ROI
Optimize all the moving parts of your current and future contracts
Struggling with managed markets contracts? You’re not alone. With cost pressures and budget cuts, the barriers to success -- and sustained profitability -- are high. Covance proactively delivers strategic insight and guidance into contract management at every stage of your product’s development to determine the best market for your product, minimize cost outlays, and maximize your long-term contracting effectiveness.
The right metrics give you active insights into your contracts performance. Trouble is, setting up and ensuring the data is accurate can put a tremendous strain on your resources and staff. You risk losing revenue, wasting resources and violating commercial or regulatory requirements.
Managed Market Services assists you throughout the labor-intensive, time-consuming and costly contract management process. Our team works with healthcare companies to provide sourcing options that control expenses, while offering you the flexibility of using only the services and staff you need, when you need them.
Market Access contract lifecycle management (CLM) solutions are increasingly costly. Your future contracts, whether they are Federal, State (FSS, Part D, State, or Medicaid) and commercial contracts, need familiarity with government policy and a flexible operations model to execute them. We partner with you to improve efficiency and ROI – before you launch— with a minimal upfront investment. The result? A simpler service platform.
Our Strategic Operations Model streamlines the contract process, from a la carte services to a full, end-to-end contract life cycle management system. With advanced technology to manage all aspects of contract setup, management, compliance and performance, you focus on core business activities.
Our Contracting Approach examines the deal structure strategy by channel; your strategy for contracts (traditional and non-traditional, and coupons/evouchers); and completing the Veloxis template.
When the program is established, we monitor and manage contract load and maintenance; membership and eligibility management; formulary and class of trade management; contract performance metrics; administration fees processing; and knowledge repository, workflows, portal capabilities, and dashboard reporting.
MMS keeps you compliant with government benefits and pricing, supplying administrative support for chargebacks and 340B processes; Managed Care, Part D, Tricare, and Coverage gap rebate processing; federal and state Medicaid rebate processing; and sales based and specialty rebates processing.
Our proprietary technology platform enables your system to respond to changing business needs. You’ll work with revenue management and recognition solutions to calculate government pricing without the cost of system implementation or upgrades.
Seamlessly manage all types, including Average Manufacturer’s Price, Best Price, Average Sales Price, 340B - Public Health Services (PHS), Non-federal Average Manufacturers Price (NFAMP), Federal Calling Price, Federal Supply Schedule Price (FSS), and Unit Rebate Amount/Rebate Per Unit.
With updates made to the Cloud automatically, you’ll access the latest solutions in forecasting, analytics, and data collection, storage and management.
- Contract and channel effectiveness
- Coupon vendor validation
- Formulary and benefit file management services
- Contract load and maintenance
- Membership and eligibility management
- Formulary trade management
- Class of trade management
- Chargebacks processes
- Commercial and government rebate process
- Government policies
- Government pricing calculation
- 340B program
- Contract compliance
- Government compliance
- Gross to net audits
Evaluation and Performance
- Contract performance
- Accrual tracking for rebates and chargebacks