Many see compendia databases as just a pricebook, but they’re so much more.
Everyone from Payers, State and Federal Government Agencies, EHR’s & Specialty companies rely on compendia data for Classification, Clinical, Reimbursement and pricing information. Incorrect information will result in product issues for Prescribers, Dispensers, Distributors and most importantly reimbursement organizations such as Payers and Adjudicators.
Like many things in the commercialization process, it’s a detail that might seem small but can have a huge impact on product access and reimbursement. If you’re like most manufacturers, you’re far more concerned about FDA approval and licensing than you are compendia, which is why it’s something so easy to overlook.
To make matters more challenging, compendia companies won’t talk to or take meetings from pharma manufacturers. So if you make a mistake submitting your drug’s data, it’s going to be extremely difficult to resolve the matter. Before you know it, what seemed like a trivial matter and an insignificant oversight can cost you significant revenue by delaying HCPs’ ability to prescribe your new drug and for the pharmacies to adjudicate claims properly.
1) Clinical & Strategic Submissions
2) Product Differentiation or Competitive Alignment
3) Compendia Account Management & Data Audits
An incorrect classification can mean a failed launch
Many see compendia databases as just a pricebook, but they’re so much more.
Everyone from Payers, State and Federal Government Agencies, EHR’s & Specialty companies rely on compendia data for Classification, Clinical, Reimbursement and pricing information. Incorrect information will result in product issues for Prescribers, Dispensers, Distributors and most importantly reimbursement organizations such as Payers and Adjudicators.
Like many things in the commercialization process, it’s a detail that might seem small but can have a huge impact on product access and reimbursement. If you’re like most manufacturers, you’re far more concerned about FDA approval and licensing than you are compendia, which is why it’s something so easy to overlook.
To make matters more challenging, compendia companies won’t talk to or take meetings from pharma manufacturers. So if you make a mistake submitting your drug’s data, it’s going to be extremely difficult to resolve the matter. Before you know it, what seemed like a trivial matter and an insignificant oversight can cost you significant revenue by delaying HCPs’ ability to prescribe your new drug and for the pharmacies to adjudicate claims properly.
No matter where you are in the process, we’re here to support, advise, and implement key strategies to ensure the success of your product.
110 Riverbend Avenue, Suite 100
Powell, OH 43065
Phone: (614) 389-4004
Fax: (866) 259-4324
Email: info@twolabs.com
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How we successfully updated a cannabinoid treatment to be included in Compendia for market use.