The Industry's Premier Event for Life Sciences and Pharmaceutical Professionals

Understanding Revitas Government Pricing: Best Practices and New Features / Functions

19 Apr 2016
2:00 PM - 3:25 PM
Umber, 4th Floor

Understanding Revitas Government Pricing: Best Practices and New Features / Functions

As government budgets and priorities change, new pricing methodologies are introduced within programs such as Medicaid and Medicare Part D. Pharmaceutical manufacturers spend significant capital each year to keep pace with evolving requirements and maintain accurate calculations. Government price violations, particularly under the Medicaid Drug Rebate Program, have resulted in billions of dollars in fines for the pharmaceutical industry in the past decade. Furthermore, non-compliance may result in drugs being removed from government programs, forcing manufacturers to lose a major source of revenue.

Revitas Government Pricing enables pharmaceutical manufacturers to quickly and accurately calculate government pricing in order to prove compliance. And, with the addition of Revitas Government Pricing Reallocation, manufacturers can implement creative bundled sales strategies that maximize revenue while ensuring all government pricing compliance requirements are satisfied.

Skill Objectives:
1. Learn the basics of price type calculation creation and the various components.
2. Learn how to use Formula Builder to implement methodology change.
3. Learn about system flexibility to enhance the user experience.
4. Learn what discount reallocation means and the impact to the commercial marketplace.