Support for New Regulations Immediately Available at No Cost To Existing Clients
Raritan, NJ – April 15, 2013 – iContracts, a leading provider of solutions for managing corporate contracts and commitments today announced immediate availability of enhancements to its market leading solutions for managing pharmaceutical contract processes and government reporting. These new capabilities support Drug Price Reporting Calculations required by the State of Texas and are available “out-of-the-box” to all Contracts customers without the need for customization, software upgrades, or the extensive consulting services demanded by other solution providers. Specifics of iContracts’ first to market solution include:
Configuration of the Texas monthly calculations:
o COT exclusions
o Smoothing methodology
Calculation of the following Prices:
o Price to Wholesaler/Distributor
o Direct Price to Pharmacy
o Direct Price to Chain Pharmacy
o Direct Price to Long Term Care Pharmacy
Reporting of Texas Prices
o Weighted Average price
o High and Low Monthly Pricing
o Optionally provide pricing for only eligible pharmacies in Texas
o Creation of standard Texas template with associated pricing
Leigh Powell, Chief Executive Officer of iContracts noted, “iContracts has again demonstrated its leadership in the pharmaceutical market by providing the industry’s first out-of-the-box solution for managing complex, state level requirements for Drug price calculations and reporting. By virtue of our true cloud-based delivery model and modern web centric architecture, existing iContracts customers can immediately take advantage of these crucial new capabilities without having to incur significant expenses for software upgrades and accompanying services, or time delays in their implementation. With each passing day, the advantages of deploying solutions from iContracts continue to grow and fundamentally change how companies effectively manage contracts and government reporting requirements.”
iContracts’ solutions are available as an “on demand” service or as a behind-the-firewall offering and are built on iContracts’ revolutionary BCS platform featuring an advanced data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic page formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs.
About iContracts
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with considerable and unique experience in building contract management solutions for the Life Sciences industry. This deep understanding and straightforward approach shows in everything we do. iContracts comprehensive suite of solutions manages all aspects of a Life Science company’s chargeback, rebate and Medicaid processes as well as other incentive agreements and Government Pricing compliance at all levels. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.
iContracts Media Contact:
sjohnson@icontracts.com
iContracts, Inc.