Revitas has announced that majority of the top pharmaceutical companies are employing Revitas Validata revenue management solution to import and validate incoming prescription lines of data from managed care trading partners.
The Revitas revenue management solution allows pharmaceutical manufacturers to minimise the payment of erroneous claims for rebate and administrative fee payments by validating rebate claims for individual prescriptions. Revitas Validata solution can eliminate from three to ten points of gross profit margin erosion annually, and gain accuracy of the script-level data used in their rebate calculations.
Revitas Life Sciences Solutions senior director Joe Marttila said many mid-sized pharmaceutical companies can now view data at the atomic level to uncover critical errors, such as duplicate or invalid prescriptions, coordination of benefits duplicates, and invalid plans, pharmacies, products, and dates to minimize erroneous payments and support compliance initiatives.
“Companies also benefit from the flexibility of the system which allows them to support various prescription formats and configurable summarization options that aren’t available from outsourced options,” Marttila added. The Revitas solution can work with both the classic iMANY CARS solution and the Revitas Flex integrated platform, as well as other third party contract management systems.