News

February 2, 2016

IntegriChain Offers Free Webinar on Using Channel Data Analytics for 340B Monitoring and Audit Support

Guest Speaker Michael Townsend, Research Manager, Life Sciences Business Systems Strategies, to offer industry insights


Philadelphia, PA, February 2, 2016 
– IntegriChain, a rapidly growing cloud company focused on channel management for healthcare suppliers, today announced a free webinar on Using Channel Data Analytics for 340B Monitoring and Audit Support on Tuesday, February 23, 2016, at 1 pm Eastern. David Weiss, IntegriChain Director of Solution Engineering and subject matter expert, will lead the webinar, and guest speaker Michael Townsend, IDC Health Insights Research Manager, Life Sciences Business Systems Strategies, will offer industry insights. The registration link for the webinar is available here.

“Reducing revenue leakage remains a major opportunity for life sciences manufacturers to improve their bottom line while under top-line pressure from regulation, patent expiration, and industry consolidation,” said Townsend. “Revenue leakage and collaborative channel management remain an important issue for both manufacturers and distributors for pharmaceutical, biotech, and medical device products. We have seen that through the careful study, documentation, and improvement of processes, coupled with newly available software and analytics solutions, companies can significantly reduce their exposure to revenue leakage and improve their bottom lines.”

The webinar will cover the changing breadth of the 340B Discount Drug Program and the insights offered in the Health Resources and Services Administration’s (HRSA’s) recently released mega-guidance, including results of its program-integrity audits. In addition, the webinar will address how pharmaceutical manufacturers can utilize channel data analytics to drive monitoring and auditing of their 340B programs, including the ability to:

  • Aggregate indirect sales, direct sales returns, and chargebacks for all covered entities and contract pharmacies
  • Reconcile unmatched or orphaned transactions across the diverse datasets
  • Summarize all 340B-eligible and ineligible lines of business within a covered entity with drill-downs to specific inpatient, outpatient, and contract pharmacy locations
  • Highlight suspicious levels of 340B sales or returns
  • Consider industry benchmarks and mitigating factors such as Medicaid exclusion status, class of trade, product characteristics, and channel designs (for example, buy and bill, specialty, and retail)
  • Guide the manufacturer to unified transactional details across datasets (for example, indirect and sales, chargebacks, and returns)
  • Prioritize suspicious activity for deeper investigation and audit support

“The reality is that manufacturers have limited options to gain transparency due to data gaps, complexity, and the resources required to reliably marry together indirect sales, and chargebacks with the HRSA Office of Pharmacy Affairs database,” said Weiss. “Many manufacturers are struggling or seeking to implement analytic solutions that can accurately monitor all inpatient and outpatient purchasing within participating hospitals, clinics, and pharmacies. IntegriChain alone is able to provide the highest quality master data and analytics to resolve data gaps and drive analysis and auditing.”


About IntegriChain

IntegriChain is the leading channel management cloud used by healthcare suppliers, including nine of the top-10 pharmaceutical manufacturers, to drive channel collaboration and to improve the efficiency of how products reach customers. Pharmaceutical, biopharm/specialty pharma, generics, and consumer health suppliers use IntegriChain to manage their supply chain relationships, inventories, and orders across a vast network of retailers, ecommerce, and distributors. As a suite of informed applications and analytics built on top of aggregated channel inventory and point-of-sale (POS) data, IntegriChain provides customer operations, national accounts, and finance teams with a collaborative, agile, and mobile alternative to ERP and homegrown systems. By embedding big-data customer insights into daily business processes, IntegriChain helps control the high cost of product distribution while improving product availability, ensuring a higher level of revenue predictability and maximizing distribution investment. More than $200 billion in annual US commerce and 2.0 billion transactions flow through the IntegriChain Cloud annually. For more information, visit www.integrichain.com and follow us on Twitter @IntegriChain.

IntegriChain is a registered trademark of IntegriChain Incorporated. All other trademarks are property of their respective owners.

Contacts
Jennifer Guinan | Sage Strategic Marketing
610.410.8111
Jennifer@sagestrat.com

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