Tag Archives: idc health insights

Health

Digital Determination in Pharma and Life Sciences: The Time is Now for European Supply Chains

Digital Determination in Pharma and Life Sciences

Life sciences supply chains need to adjust to increasingly complex environments globally. Pharma manufacturers and wholesalers in Europe must undergo a fundamental transformation to remain competitive in this market. The rapidly approaching deadline of the European Union’s Falsified Medicines Directive (FMD) for drug serialization and traceability is currently the top concern of life science companies supplying pharmaceutical products to the European markets. However, companies can take this opportunity to upgrade their digital systems and operations and realize the broader potential of the 3rd platform and innovation accelerator technologies to achieve “smart compliance,” deriving a longer-term business value for their supply chains.

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Health

Payer/Provider Contract Management 2.0 for Payers

The day-to-day management of fee-for-value (FFV) transactions is virtually 100% manual, with critical calculation of value-based payments performed by spreadsheet or custom programming in SAS or SQL. As the number and breadth of value-based relationships grow, the industry’s administrative burden worsens. Important FFV calculations and financial settlements are months delayed, lacking transparency and accuracy. The ability of payers to launch new value-centric benefit products is hobbled by inflexible contract and payment platforms.

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