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Maximizing Profit and Profitability in Life Sciences Government Contracts
Life sciences government contracts offer substantial revenue opportunities, but they can also be complex and demanding. With strict compliance requirements and detailed scrutiny, navigating them can be challenging. However, when managed correctly, government contracts provide reliable revenue streams and long-term financial stability, making them worth the effort. To ensure success… Read More
Curbing Revenue Leakage in Life Sciences: Key Sources & Solutions
Revenue leakage poses a serious threat to companies in the life sciences sector, where the intricacies of regulatory demands and market dynamics make financial management particularly complex. Failing to address these leaks can have severe consequences, directly impacting profitability and operational efficiency. Identifying and Tackling Common Leak Points Effective financial… Read More
Five Proactive Strategies for Thriving in Digital Transformation
To successfully navigate digital transformation, Life Sciences companies need a robust plan. Here’s how you can take control of your revenue management transformation, in five simple steps: 1. Automate to Dominate Automation is your first line of defense against inefficiency. By automating complex processes such as chargebacks, rebates, and government… Read More
5 Strategies for Building a Culture of Compliance through Employee Education
The Life Sciences industry is a uniquely complex regulatory landscape where compliance with the law, including stringent FDA requirements and diverse global market standards, is table stakes. It’s also a cornerstone of brand reputation, so it is important that employees throughout the organization are not only made aware of regulations… Read More
6 Facts about State Pricing Reimbursement Every Life Sciences Company Should Understand
State pricing reimbursement policies vary widely across the U.S. — but no matter where Life Sciences companies operate, these policies will significantly influence both strategies and operations. Because policies are so diverse across states, there is a complex environment nationwide, that directly affects how pharmaceuticals are priced — and also how… Read More
5 Stats to Watch in State Price Transparency
In Life Sciences, price transparency is a basic regulatory requirement. It’s also a strategic imperative that influences market access, patient affordability, and company reputation. Across the United States, state-specific regulations play a pivotal role in shaping how price transparency is implemented and governed. These regulations are designed to ensure that… Read More
Why Global Spend Transparency Matters: Looking Beyond Compliance
In Life Sciences, the concept of spend transparency is a foundational element of modern business practice — and often that conversation revolves around compliance: how to maintain it, the cost of not maintaining it, etc. While compliance with laws like the U.S. Sunshine Act and similar global regulations is mandatory,… Read More
7 Tips for Managing Multi-State Drug Pricing Compliance in Life Sciences
Navigating the regulatory landscape of multi-state pricing compliance in the Life Sciences sector can be challenging. With different states enforcing varying regulations on drug pricing and transparency, companies need a robust strategy to ensure compliance and mitigate risks. Here are seven practical tips to help manage multi-state pricing compliance effectively. Read More
The Benefits of Employee-Driven, Collaborative Life Sciences Coaching
Field coaching plays a pivotal role in any Life Sciences Playbook. Typically, this involves a manager accompanying a sales representative on their rounds, followed by a Field Coaching Report (FCR) that captures observations and feedback. This traditional approach focuses on manager-driven insights, but evolving this to a collaborative, two-way… Read More