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I-many Chargeback Verification

Prevent Revenue Leakage and Improve Compliance

Industry analysts estimate that 40-90% of Chargeback returns are not reported to manufacturers. Of those manufacturers using intervention efforts to insure reporting of chargeback returns, the best recoverable numbers are 85% of unreported returns. These current efforts to find missing chargebacks are either intensely manual or require the expensive services of external consultants and audits. Even then the efforts are not continuous and ongoing.

I-many offers the first line-item-level solution to verify chargebacks against channel sales and returns to both track and to detail missing negative chargebacks, missing chargebacks and to remove the assumption of sale for each chargeback.

I-many Chargeback Verification, one of the I-many Contract Management Suite for Life Sciences solutions, provides unparalleled ability to verify the chargeback claim as having actually shipped as well as to verify that all negative chargebacks have been reported and if not, provide the details on missing chargeback returns. This ensures not only accurate reporting and revenue leakage control but provides the audit controls that have been missing for chargebacks. Chargeback Verification has powerful capabilities to eliminate payments for shipments not verified and prevent overpayments by insuring the accuracy of negative chargeback reporting and prevent revenue leakage. It also ensures regulatory compliance by providing audit ability, management of business processes and risk mitigation strategies.

The validation is accomplished by comparing the data in either the EDI 844 or the EDI 849 (Chargeback and Chargeback Reconciliation respectively) with the data in the 867 (Wholesaler Shipment Detail/Product Transfer and Resale Report). All comparisons are made at the line level to insure accuracy and completeness. This item level comparison enables the manufacturer to provide details on the chargeback returns that have not been reported.

Compelling Key Benefits

• Industry-first comprehensive line-item-level solution to address the chargeback verification and negative chargeback management lifecycle.
• Insuring the reporting of all negative chargeback claims prevents revenue leakage.
• Verifying chargeback claims supports regulatory compliance and prevents revenue leakage as well as increases channel visibility.
• Automates validation and audit controls, provides tools and reporting for insuring chargeback claims are verified and complete.
• •Data and reporting may be standardized, closely controlled, approved, and safely stored.
• Comprehensive revenue management software and optimization techniques allow the set-up and automated management of chargeback compliance and verification.
• Active compliance and adjudication validates each transaction against the detailed sales data to ensure accuracy of claim and complete reporting of all transactions.

Click on the following products for more information:

• I-many Contract Manager™
• I-many CARS® NG
• I-many Chargeback Verification
• I-many Government Pricing™
• I-many Medicaid Rebates™
• I-many Validata™
• I-many Medicaid Analytics™
• I-many CARS® BI
• I-many Architecture