Friday, September 6, 2013

Achieving MDRP compliance while protecting your bottom line

Today's guest post has been provided by Lise Neely, Director of Product Marketing at Revitas

Year after year, the Medicaid Drug Rebate Program (MDRP) Summit brings together government regulators, pharmaceutical executives, and industry leaders to discuss new regulations and best practices for maneuvering through the Medicaid Drug Rebate Program. Compliance is top of mind for many summit attendees, as companies struggle to meet government needs without sacrificing their bottom line.

For organizations to overcome regulatory hurdles in a complex rebate system, they have to extend beyond compliance and incorporate revenue management in their MDRP process. Only then can they ensure their processes are auditable and reportable while maintaining profitability. But actually implementing and evolving such business rules is a struggle for many organizations, especially given ever-shifting regulations.

Achieving perfect MDRP compliance and implementing effective business rules are not easy, but Revitas is leading two presentations addressing best practices for sifting through these processes at the upcoming MDRP Summit. First, Barry Hansen, Product Manager for Revitas Government Pricing, and Michael Panicaro, Manager of Solution Engineering at Revitas, will present “Take a Product through the Rebate System” on September 9 at 4:30 p.m. CDT. They’ll walk through each step of the MDRP process to teach you how to move your product through the MDRP pipeline, from initial claim to validation to disbursement, while avoiding margin erosion and maintaining compliance.

Hansen and Panicaro will also address how to identify and implement business rules within an organization in a presentation titled “Translating Business Rules into System Processing” on September 10 at 3:30 p.m. CDT. In an age of increasingly complex government pricing mandates, business rules develop and evolve through multiple outlets, from federal and state governments to security and system requirements. You’ll learn how to successfully manage the influx of business regulations by understanding the source of business rules, learning how to interpret these rules, and then discovering how they can be expressed as requirements.

We’ll also be exhibiting at booth #23 during the conference, so please stop by if you’d like to hear more!

To learn more about the 18th Annual Medicaid Drug Rebate Program, download the agenda. We hope to see you next week in Chicago!

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