Global Biopharmaceutical Company Goes Live on Revitas Revenue Management Suite
PHILADELPHIA–(BUSINESS WIRE)–Revitas, Inc., the leader in revenue acceleration, today announced that a global biopharmaceutical company has completed a full-suite implementation of Revitas® revenue management and compliance solutions, including Revitas Revenue Manager™, Validata®, Government Pricing, Medicaid Rebates, and Analytics applications. The implementation provides an integrated system for the automation and processing of complex managed care agreements and commercial contracts—streamlining workflows, eliminating the risk of costly errors and omissions, ensuring compliance, and enabling significant cost savings for the long-time Revitas customer.
The manufacturer’s decision to upgrade to the Revitas revenue management suite was driven by the need to automate and improve rebate management, streamline business processes, simplify reporting to ensure compliance with Medicaid Drug Rebate Program (MDRP) requirements, and enhance business insights. The manufacturer’s implementation was expanded to include Revitas Government Pricing to replace a problematic and costly application that was in place. The Revitas Government Pricing application enables the customer to easily and accurately manage pricing calculations and reporting required for compliance with government drug programs as well as monitor commercial pricing practices.
“Today’s pharmaceutical landscape requires manufacturers to quickly adapt to continual changes in regulatory requirements or face major compliance risk,” said Brian Madocks, CEO and President at Revitas. “Inconsistent reporting and limited visibility resulted in costly consequences for this manufacturer, highlighting a definitive need for more advanced systems. Revitas’s revenue management suite was selected because of its proven ability to protect revenue by proactively managing government compliance, and integrate information across the organization for improved efficiencies, insights, and outcomes.”