Selecting pharmaceutical chargeback software is not just a technology decision. The platform you choose can affect implementation speed, internal workload, EDI connectivity, accounting workflows, automation, reporting, staffing requirements, and ultimately how quickly your organization begins seeing value from the investment. Many chargeback systems can appear similar during a demonstration. Most can receive claims, validate data,…
For many pharmaceutical manufacturers, working with a third-party logistics provider makes good business sense. A 3PL can eliminate the need to build and operate your own distribution infrastructure while providing the specialized capabilities required to store, pick, pack, and ship pharmaceutical products. For emerging and mid-sized manufacturers in particular, outsourcing physical distribution can offer significant…
A pharmaceutical chargeback is very different from a typical chargeback, one that’s very specific to the pharmaceutical industry (as the name suggests) and is part of the regular business practice. This can get confusing since non-pharmaceutical, traditional chargebacks are typically credited back to a customer because they’re disputing a credit card charge. These are considered…
You don’t know what you don’t know. Never was a truer sentence spoken when it comes to avoiding pharmaceutical chargeback errors eating away at your already razor-thin profit margins. The fact is that the chargebacks you pay to your wholesalers are among the largest expenditures in your financial statement. Are you absolutely sure that they’re…
The process of managing pharmaceutical chargebacks creates all kinds of challenges for pharmaceutical manufacturers worldwide. When it comes to increasing efficiency and reducing revenue loss, manufacturers find themselves asking the age old question “to split or not to split chargebacks?” So, what is the best method? From receiving to processing chargebacks each day, it is…
The intricacies of pharmaceutical manufacturers’ day-to-day operations are vast. From contract management to chargeback processing to EDI maintenance and operations, having every facet run smoothly is essential to profitability. Unfortunately, far too many pharma manufacturers today are losing money to human error, communication failure, technology breakdown, and more. Avoidable chargeback mistakes are not only eating…
Technology and digitization has slowly but surely infiltrated the pharmaceutical industry over the last decade. The antiquated logistical practices of yesterday simply won’t cut it in today’s competitive, ever-evolving industry. And when it comes to pharmaceutical chargeback processing and revenue management, advanced technology positioned itself as an imperative feature for manufacturers, third-party logistic providers, and…
EmpowerRM is proud to announce another success in automated chargeback processing! After partnering with WDSrx, a pharmaceutical logistics services provider, our software was able to dramatically reduce revenue loss and increase productivity for one of their clients. The manufacturer faced the costly challenge of maintaining oversight of the chargeback process. Looking for a solution, WDSrx…
Do infrastructure costs and manual intervention greatly limit your organization’s ability to profit? Does your manufacturing company struggle with a million moving parts by way of contracts, products, customers, and historical sales data? Does the term “revenue leakage” send a chill up your spine? These questions often give even the biggest pharmaceutical giants a cold…
It’s an exciting time for the pharmaceutical industry. As the digital world continues to make its presence known, pharma leaders across the globe are changing gears to place a greater focus on things like cost and the prospect of outsourcing. In doing so, these major players are able to maintain their stronghold on the market…