Contracting is a vital tactical pricing tool – it is a principle way in which pricing strategies are implemented. Our support offerings in this area cover design, analysis, segmentation, evaluation, and process reviews of contracting. Our work results in actionable and sustainable tactical programs that meet both corporate and customer objectives for all commercial and government segments. We also create tools for use by all parties in both internal and external communications and negotiations. MME has several services that help clients assure their pricing strategies are correctly communicated and implemented and that their contracting tactics are consistent with company plans, pricing strategy and governmental mandates.
Communicating value is the key to sustaining and supporting the price of a product or service. This communication must be both external, with several different stakeholder groups – to support the price and minimize the potential for controversies or price concessions, and internal groups - to assure marketing, field and account management personnel understand the reasons for and the goals of the pricing strategy selected. Leaving these groups to assess the value and pricing strategy on their own creates risks that are costly, but easily avoided.
MME offers unparalleled experience in all facets of commercial contracting. We have successfully completed engagements encompassing many product classes and therapeutic areas centered on value and its interaction with pricing, payers, reimbursement, and marketing. MME fully understands the strategic, tactical, and operational issues involving pricing, reimbursement, and discounting both in the US and in other major global markets. Major market segments covered included managed care, hospital, oncology, government, and distribution, and responsibilities also covered emerging pricing issues for bio/ pharmaceutical companies.
MME’s approach to the building contracting tactics is based upon an understanding of:
We also perform comprehensive audits of the contracting area, evaluating the contract offers, performance, process and consistency with stated product goals.
MME has in-depth knowledge and broad experience in mandated government contracting and price reporting. We have assisted several clients in the development and management of these contracts and the related mandatory reports along with accompanying policies and procedures. MME’s seasoned professionals understand the government contract and pricing requirements and have first-hand experience dealing with corporate integrity agreements. Our services range from guiding the internal team in the development of these reports to developing and implementing the reports and creation of policy and procedural documents for transition to the internal team.
Of course, the maintenance of compliance with all government contracting and reporting regulations is of paramount importance. This includes ASP, Medicaid, PDLs, 340B, state and supplemental programs, Federal Supply Schedule, Medicare Part D, and all other government programs. Errors and oversights in mandatory price calculations and reports can be costly and time consuming, and MME can help clients to avoid delays and expenses by applying our experience and insights to this important area.