ASSESSMENT & STRATEGY FOR A SPECIALTY MANUFACTURER'S CONTRACTING AND PRICING ANALYTICS & OPERATIONS
A manufacturer of specialty and orphan pharmaceuticals struggled to provide the consistent, graphically rich contract analytics sought by their Finance, Marketing and Account Management groups. Their contracting and pricing operations team worked hard to generate analytic views, but the constant onslaught of variable payer utilization data and manual Medicaid claims challenged their capacity to meet the expected frequency and depth of analysis. The management team recognized the need to invest in improvements, but with a mix of formal systems and manual Excel-based solutions across their operation, the path forward was unclear. Prior projects to implement expensive formal systems had delivered questionable results for certain operational areas, and the future solution clearly required a better fit to the specific business needs surrounding the company’s specialty and orphan drug portfolio.
The manufacturer engaged Pharosity Consulting staff to assess the current state, define a tailored three-year strategy for operations and analytics, and assist in identifying the appropriate vendor(s) to deliver the solution.
Combining our decades of experience with Contracting and Pricing Analytics and Operations with expertise in the channel models for specialty and orphan pharmaceuticals, Pharosity conducted a project including the following activities.
Business Needs Analysis: Enumerated and documented the challenges and opportunities for improvement surrounding operational and analytics business needs
Prioritization: Isolated key business needs specific to the manufacturer that necessitated a more tailored solution
Solution Options: Based on Pharosity’s industry knowledge, defined the solution options to resolve the current gaps, and the software and/or service vendors within the marketplace likely to fit each specific component of a solution
Solution Definition & Multi-generational Plan: Facilitated the final design of the solution in collaboration with the manufacturer’s key stakeholders and mapped out the multi-generational plan to achieve the desired future state
With their unique business needs identified, and the root causes of business problems defined, this manufacturer’s management team gained visibility to the solution elements most important to delivering value for their organization. Rather than entertaining sales presentations from multiple solution vendors and spending impulsively in response to the best looking software, the team based a substantive RFP on their specific solution definition and obliged vendors to prove out their fit to each component.
The multi-generational implementation plan has allowed this manufacturer to begin executing on a comprehensive strategy, designed for their specific need and directed toward specific value points.