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Life Sciences Contract Management Services

Life Sciences Contract Management

Overview and info sheet on KPMG's Life Sciences Contract Management Services.

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Historically, contracting system implementations and/or upgrade efforts tended to be notoriously over-budget and over-schedule with the resulting systems falling significantly short of their promises. Fortunately, those efforts yielded numerous lessons learned and keys to success that, if heeded, will yield far better results this time including:

  • Holistic view:
    • Entire contracting environment (e.g., strategy, analytics, processing, and pre and post payment validation): Consider the full environment and technical infrastructure due to the possible operational impact to your business processes even if your company is currently contemplating system updates to only a portion of the system (e.g., only chargebacks/commercial rebates, only government rebates, only government pricing).
    • Future strategic state: Develop requirements, design, and implement a system that allows for five or ten years of competitive and compliant functionality, not limited to the present day capabilities of the system (or where you were yesterday).
    • Broad stakeholders: Include all relevant departments and extending down to lower levels than you did previously to gain valuable insights regarding requirements and build buy-in and momentum into the process.
    • All relevant software: Give all potentially-adequate systems a chance in the early stages for reasons such as understanding all possibilities, and minimizing back-end second-guessing.
  • Modern capabilities: Consider cloud, partnering, outsourcing, and/or offshoring as possible solutions.
  • Project-integrated business perspective: Business strategy, user needs and legal/compliance/audit requirements must go beyond front-end planning and back-end testing and be embedded in all phases of the project execution. Business leaders and users must be realistic about their time commitments and should consider engaging policy/business-oriented consultants to manage the process and be their arms/legs and voice in day-to-day matters.
  • Return on investment (ROI) analytics: ROI analytics typically include only operating costs but a more valuable view will likely result from extending consideration to the financially-import issues around revenue leakage and potentially strategic mission-critical issues around incentive effectiveness and contracting strategy.
  • Phased approach with checkpoints: Dividing work into a series of steps, with associated realistic deadlines, will help the project stay on course in terms of time and budget.
  • Business case: Explains and sells the solution to management. The business case is a critical document that includes the total cost of ownership as well as the project’s goal, anticipated benefits and risks associated with maintaining current state.

Why KPMG?

KPMG assists life sciences clients with assessing and identifying the right contract and revenue management solutions, strategy, and implementation approach to best fit their business priorities. 

 

With a deep understanding of the needs of both large and mid‑size pharmaceutical organizations, we can accelerate the entire lifecycle of solution implementation including vendor selection, business requirements, business process design, solution architecture, solution design, implementation, testing, deployment, and overall project management.

 

For more information, download our information sheet or contact us.  

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