News

December 15, 2021

IntegriChain Secures Leadership in State Price Transparency Reporting

~80 Life Sciences Manufacturers Rely on IntegriChain for Critical Compliance and Operational Support for Evolving and Confusing State Price Transparency Reporting Landscape

Philadelphia, PA, December 14, 2021 – IntegriChain, delivering Life Sciences’ only comprehensive data and business process platform for market access, today announced it has secured leadership in State Price Transparency Reporting (SPTR) for Life Sciences manufacturers. Over the past few years, almost half of all states have signed into law drug pricing transparency measures that place new compliance and reporting obligations on Life Sciences manufacturers, a heavy burden for any manufacturer without the specialized knowledge of shifting and evolving state-by-state pricing transparency regulations and the staffing to submit the more than 50 pricing reporting submissions to individual states. Nearly 80 Life Sciences manufacturer customers rely on IntegriChain’s team of 12 subject matter experts on staff to advise and implement reporting programs. In addition, IntegriChain has generated more than 500 reports to state agencies on behalf of its Life Sciences manufacturer customers to meet the transparency requirements.

“SPTR is a critical element of regulatory compliance,” said Jeffrey Baab, Vice President of Advisory for IntegriChain. “Our team of top-tier experts guide scores of manufacturers of all sizes and types in establishing procedures and processes for reporting, training teams, submitting required reports, and monitoring new regulations. These manufacturers have partnered with us and rely on us to ensure compliance with the varying and constantly changing state pricing regulations, and we are proud to be the leaders in this critical compliance effort for Life Sciences manufacturers.” 

About State Price Transparency
State Price Transparency legislation is a response to the perception of increasing wholesale acquisition cost (WAC) prices and the lack of public knowledge around the reasoning for those increases. Individual states have taken it upon themselves to take legislative action to raise awareness for drug pricing trends over time in an attempt to increase public visibility to pharmaceutical pricing. Manufacturers need to establish a baseline understanding of the landscape of state-by-state regulations, must proactively monitor new pricing transparency legislation, and must comply with individual state reporting requirements. 

IntegriChain State Price Transparency Reporting Solutions
IntegriChain’s team of State Price Transparency experts offer a full range of services for reporting, monitoring, and compliance.

Pricing Transparency Law Tracker. IntegriChain offers a state-by-state procedure tracker that addresses when and how to report pricing to comply with each state’s unique laws and regulations. 

Pricing Calculator. IntegriChain has codified all SPTR regulations into a tool that allows manufacturers to evaluate the reporting implications of potential pricing actions. 

Communication and Training. IntegriChain delivers comprehensive materials to facilitate communication and training across the manufacturer’s organization.

Registration and Reporting. IntegriChain registers with state portals and establishes all required reporting templates. 

Ongoing Monitoring Services. IntegriChain proactively monitors State Price Transparency legislation to provide ongoing updates, reporting, and strategic support related to compliance with applicable pricing transparency laws, since states may adjust reporting timelines forward or backward when releasing new material.

About IntegriChain
IntegriChain is Life Sciences’ data and application backbone for patient access and therapy commercialization. More than 250 manufacturers rely on IntegriChain’s ICyte Platform to orchestrate commercial and government payer contracting, patient services, and distribution channels. ICyte is the first and only platform that unites the financial, operational, and commercial data sets required to support therapy access in the era of specialty and precision medicine. With ICyte, Life Sciences innovators are digitalizing labor-intensive processes – freeing up their best talent to identify and resolve coverage and availability hurdles and to manage pricing and forecasting complexity. IntegriChain is backed by Accel-KKR, a leading Silicon Valley technology private equity firm. The company is headquartered in Philadelphia, PA, with offices in Ambler, PA; Raleigh, NC, and Pune, India. For more information, visit www.integrichain.com, or follow us on Twitter @IntegriChain and LinkedIn.

Contact
Jennifer Guinan, Sage Strategic Marketing, 610.410.8111,  Jennifer@sagestrat.com

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