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!

How to Mine Big Data for Business Advantage

Today's guest post is authored by MDRP speaker Rob Patterson of Revitas.

Most companies using any business software application are working with years’ worth of historical data – and as weeks, months, and years pass this data accumulation shows no signs of stopping. Rapid data growth can lead to significant challenges for day-to-day users of the applications the IT departments that manage underlying systems and technology. All of that data can result in slower application performance, irrelevant search results, concerns about information security, and increasing technology and operational costs.

Companies that work with an excess of data need an automated solution and a strategy to manage long-term data growth effectively. In addition, leverage analytics and reporting to find value in that heap of data.

During the upcoming 17th Annual Summit on the Medicaid Drug Rebate Program (MDRP) in Chicago Revitas will address the universal challenge of handling and finding value in contract and pricing data growth. David Gelhar, Director of Solution Engineering at Revitas, will offer strategies in a session titled, “Best Practices for Handling Data Growth” on Tuesday, Sept. 11 at 3:45 p.m.

Revitas will also offer insights during an MDRP session titled “Alternative RPU Calc if You Have 5i Drug.” CMS relies on the FDA route of administration codes to identify whether a drug is in the 5i category. Revitas’s Mike Panicaro will discuss considerations in the proposed rule, the debate on whether the retail dispensation is purely quantitative or also qualitative, the possibility of “brown bagging” types of distribution, and base AMP implications. Sound like something of interest? Mark your calendars for the 11:15 a.m. presentation on Sept. 10.  For more information on these sessions, download the agenda here.  If you'd like to join me in Chicago next week at MDRP, register today and mention code XP1716BLOG and save 25% off the standard rate.