Contract Management for Life Sciences
Generating Life Sciences Impact
Genpact helps life sciences organizations design, transform, and run contract management operations covering contract pricing, contract maintenance, and contract transactions to reduce cost and enhance revenue and margins.
Contract pricing solutions
Contract performance analysis across sales channels, driving account segmentation based on contract types, customer, products, and volume helps enterprises control pricing negotiation. Contract formulation services, including formulary management and designing contracts based on rebates, charge-backs, and incentives, and creating deal-specific price range guidance and discounts helps enterprises reduce rogue contracting and shorten the offer-to-contract time.
Contract maintenance solutions
Cleaning master data, identifying under-performing contracts and customers, and measuring analyst productivity help enterprises streamline contract setup and maintenance and ensure quality and compliance.
Contract transaction solutions
Claims processing, compliance/performance reporting, charge-back, and over-payment analytics help enterprises reduce charge-back errors/leakage, prevent fraud, eliminate over-payments, ensure rebate optimization, minimize regulatory violations, and improve performance visibility.
Our Smart Enterprise Processes (SEPSM) proprietary framework helps life sciences companies reimagine their contract management operations by integrating effective Systems of EngagementTM, core IT, and Data-to-Action AnalyticsSM to enable tangible business outcomes, such increased pricing profitability, a reduction in contract management costs, and increased reporting rigor and compliance.
One of the world's largest pharmaceutical manufacturers improved operations by ensuring 100% data accuracy and 100% membership updates with outcome-focused technology and process improvements, and by leveraging an advanced operating model for contract management and charge-back operations.