PHILADELPHIA -- (BUSINESS WIRE) -- Revitas today announced that Allergan, Inc. has gone live on the Revitas™ Flex™ strategic platform with the implementation of the Revitas CARS® and Revitas Validata applications, the first stage in a migration to the Revitas suite of solutions for Enterprise Revenue Dynamics (ERD). Allergan, a multi-specialty healthcare company focused on discovering, developing, and commercializing innovative pharmaceuticals, biologics, medical devices, and over-the-counter consumer products, needed a common master data source that would replace multiple information silos, including customer, trading partner, and product data. The comprehensive and integrated Revitas Flex platform enables Allergan to more effectively manage and execute contract pricing terms and complex pricing scenarios, ensure the accuracy of rebate reimbursement, and reduce profit margin erosion.
“Through the single, strategic Revitas Flex platform, Allergan is able to share master data across its entire suite of integrated applications for managing contracts, pricing, and compliance,” said Al Smith, President and Chief Operating Officer at Revitas. “This initial implementation offers Allergan a first line of defense against the complexity and volume of calculations required to execute chargebacks, rebates, and other incentives—a major source of lost revenue for pharma companies. Allergan’s decision to move to the Flex platform offers yet another example of how ERD can optimize performance and boost a company’s bottom line through the consolidation of systems across multiple business functions.”
By merging several databases into one shared data source on a strategic ERD platform, Allergan gains greater visibility into its pricing initiatives and is better equipped to safeguard its revenue. Using the Revitas CARS solution, Allergan is able to determine, manage, and execute rebates, chargebacks, and other pricing incentives. By automating contract pricing and reimbursement processes, the Revitas CARS pricing incentive management solution prevents overpayments, underpayments, duplicate payments, and other costly errors.
Additionally, the Revitas Validata application integrates with Revitas CARS and helps Allergan avoid the payment of erroneous claims for rebates and administrative fees based on dirty script-level data. Validata is a comprehensive and integrated solution for managed care rebate claims validation. The Validata product improves the claims process by automating and simplifying the import, validation, summarization, and analysis of data – dramatically reducing inaccurate and duplicate claims and payments. This also reduces administrative overhead, minimizes the incidence of erroneous payments, and supports compliance initiatives.
The next phases of the broad-suite adoption of the Revitas Flex platform for Allergan will be the implementation of the Revitas™ Medicaid Rebates and Revitas™ Government Pricing applications, as well as the Revitas™ Contract Manager solution. By implementing the Revitas suite, Allergan will be able to leverage the full value of ERD to create more revenue opportunities, protect profit margins, and reduce risk by optimizing the business performance of contracts, pricing, and compliance.
Revitas, the leader in Enterprise Revenue Dynamics, delivers integrated solutions for contracts, pricing, and compliance that drive higher profitability and lower risk. Revitas empowers companies to optimize contract performance by defining, managing, and analyzing complex, multi-tier pricing incentives and enables positive proof of compliance with commercial, financial, and industry requirements. Powered by the secure, scalable, and standards-based Flex™ platform, Revitas™ applications speed time to market and improve visibility across B2B relationships. Hundreds of organizations across the most highly regulated and challenging industries leverage Revitas integrated solutions to save money, make money, and reduce risk. For details, visit www.revitasinc.com or http://blog.revitasinc.com/.