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Excellence in Pharmaceutical Contracting & Pricing

Excellence in Pharmaceutical Contracting & Pricing

ID: POP-209


Features:

7 Info Graphics

39 Data Graphics

104 Metrics

6 Narratives


Pages: 63


Published: Pre-2014


Delivery Format: Shipped


 

License Options:
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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Contracting and pricing organizations within pharmaceutical and medical device companies provide vital services to their companies but face a challenge in communicating their value to internal customers. In this study Best Practices, LLC benchmarks contracting and pricing groups in leading companies to provide performance metrics that these groups may use to measure their efficiency against others in the industry. The report also benchmarks effectiveness of various metrics and methods for communicating value.

Insights revealed in this 63-slide presentation will guide development of cost-effective contracting centers with metrics for cycle time, volume and complexity of work, staffing, training and pricing and payment accuracy. The report also looks at impacts of health care legislation on contracting groups as well as risk mitigation methods and contract automation.

Industries Profiled:
Pharmaceutical; Biotech; Medical Device; Manufacturing; Consumer Products; Diagnostic; Health Care


Companies Profiled:
Abbott Laboratories; Amgen; Baxter Healthcare; Bayer; Boehringer-Ingelheim; Genzyme; Johnson & Johnson Healthcare Systems; Pfizer; Philips Medical Systems; Roche


Study Snapshot

In today’s fast changing, complex market, competitive contracting and pricing presents tremendous opportunities and challenges for pharmaceutical and medical device companies. While fast and accurate pricing and payment excellence create a pathway to profitable growth, many pricing organizations labor to deliver expected results and demonstrate value. This study takes a fresh look at how best-in-class companies:
  1. Structure and organize their contracting functions to optimize their service: cost, quality and value
  2. Manage risk
  3. Communicate value and receive recognition for services rendered

Staffing levels and expertise, contract volume, contract cost, payment volume, payment type, price validation methods, automation levels and services provided are measured for all participating benchmark companies. Segmented data is provided for the medical device and the pharmaceutical groups.

Executives will find this study critical for:
  • Pinpointing their contracting and pricing organization’s key strengths and improvement areas relative to high-performing companies 
  • Aligning organizational structure and resources for maximizing operational efficiency and effectiveness 
  • Creating a roadmap for building high-impact contracting capabilities to drive business value 

Key Findings

A sample of the study's key findings about best-in-class contract and pricing organizations follows:
  • High performing contracting organizations focus on corporate growth in their management processes, objectives and internal communications.
  • Automation, standardizations and early warning systems are key contracting value fronts by which to manage speed, cost and quality in an increasingly complex and high-volume contracting environment.
  • Customize upward communications to demonstrate value to internal customers.
Table of Contents
Key Findings
About the Benchmark Class
Pricing Excellence
Payment Excellence
Service Excellence
Contract Risk Mitigation
Delivering Value




Key Findings
About the Benchmark Class
Pricing Excellence
Payment Excellence
Service Excellence
Contract Risk Mitigation
Delivering Value

    List of Charts & Exhibits
    Study Overview
    Key Findings & Insights
    Communicating Value
    Universe of Learning
    Corporate Levels Supported
    Support Structure & Units Served
    Georgraphies Supported
    Consolidation of Activities
    Responsibility Level
    Impact of Medicare Legislation
    Impact of Government Legislation
    Funding Sources
    Percent Contract Business Handled
    Number of Contracts Supported
    Number of Product Codes Supported
    Letters of Commitment
    Validation of Correct Price
    Percentage of Correct Pricing
    Obstacles to Correct Pricing
    Number of Payment Checks Issued
    Payment Types Made
    Payment Accuracy
    Payment Re: Contract Terms
    Overall Payment & Pricing Accuracy
    Key Obstacles to Payment Accuracy
    Services Provided
    Number of FTEs
    Cost per Contract by Company
    Complexity Trend
    Complexity Mix
    Average Cycle Time
    Reducing Rework Improves Speed
    Co-location with IT Staff
    Earling Warning Systems Rated-1
    Early Warning Systems Rated-2
    Automation of Alerting Systems
    Most & Least Used Warning Systems
    Staff Industry Experience
    Functional Background
    Training Provided
    Creating Contracting Experts & Leaders
    Contracting Career Staff Depth
    Contracting Staff Turnover
    Professional Staff
    Highly Effective Ways to Communicate
    Best Metrics to Communicate-1
    Best Metrics to Communicate-2
    External Customer Satisfaction Measures
    Evidencing Value
    Perceptions of Value
    Value Measurement & Tracking
    Case Study for Excellence
    Obstacles to Improving Efficiency
    Customer Program Adds Value


    Study Overview
    Key Findings & Insights
    Communicating Value
    Universe of Learning
    Corporate Levels Supported
    Support Structure & Units Served
    Georgraphies Supported
    Consolidation of Activities
    Responsibility Level
    Impact of Medicare Legislation
    Impact of Government Legislation
    Funding Sources
    Percent Contract Business Handled
    Number of Contracts Supported
    Number of Product Codes Supported
    Letters of Commitment
    Validation of Correct Price
    Percentage of Correct Pricing
    Obstacles to Correct Pricing
    Number of Payment Checks Issued
    Payment Types Made
    Payment Accuracy
    Payment Re: Contract Terms
    Overall Payment & Pricing Accuracy
    Key Obstacles to Payment Accuracy
    Services Provided
    Number of FTEs
    Cost per Contract by Company
    Complexity Trend
    Complexity Mix
    Average Cycle Time
    Reducing Rework Improves Speed
    Co-location with IT Staff
    Earling Warning Systems Rated-1
    Early Warning Systems Rated-2
    Automation of Alerting Systems
    Most & Least Used Warning Systems
    Staff Industry Experience
    Functional Background
    Training Provided
    Creating Contracting Experts & Leaders
    Contracting Career Staff Depth
    Contracting Staff Turnover
    Professional Staff
    Highly Effective Ways to Communicate
    Best Metrics to Communicate-1
    Best Metrics to Communicate-2
    External Customer Satisfaction Measures
    Evidencing Value
    Perceptions of Value
    Value Measurement & Tracking
    Case Study for Excellence
    Obstacles to Improving Efficiency
    Customer Program Adds Value