SOURCE: iMANY, Inc.

iMANY, Inc.

January 04, 2011 16:00 ET

New Release of iMANY® ContractSphere® 7.5 Platform Drives Increased Efficiency and Compliance for Life Sciences

Latest Version Paves Way for Health Care Reform Readiness

PHILADELPHIA, PA--(Marketwire - January 4, 2011) - iMANY, the leading provider of contract performance solutions, announced today the new release of the iMANY ContractSphere® platform designed to help life sciences companies maintain government and operational compliance impacted by health care reform legislation. As the industry's only integrated platform for contract performance, iMANY ContractSphere encompasses a comprehensive, unified set of agile solutions to better manage complex commercial and government contracting and compliance strategies without customization. Developed on a standards-based, open and modular service-oriented framework, iMANY ContractSphere solutions drive ongoing operational efficiencies and dramatically lower total cost of ownership for life sciences companies.

Enhancements in iMANY ContractSphere Solutions

The iMANY ContractSphere platform provides the foundation for a full set of tightly integrated applications to manage contracts and revenue for life sciences companies.

Solution enhancements in the version 7.5 release include the following:

  • The iMANY® Contract Manager solution has further streamlined the authoring, management and storage of enterprise contract documents with improved Microsoft Word fidelity and a contract creation wizard. Users can expect to reduce the time necessary to create contracts through simplified clause marking during contract authoring and third-party contract uploads. Additionally, the solution provides contract relationship views for deeper understanding of all relevant relationships among the multiple elements of a contract.

  • The iMANY CARS® solution now features advanced reimbursement/rebate scenarios for pharmaceutical manufacturers to process chargebacks, service fees, administration fees and reimbursements/rebates with their trading partners. Users can expect to improve efficiency by creating exceptions to rules, correct or reject submissions automatically, as well as comply with multi-divisional data security policies.

  • The iMANY Government Pricing solution offers high-performance transaction consolidation, flexible calculation management, bulletproof audit trails and tools for compliance with various government programs, including the Medicaid Drug Rebate Program, Medicare, Federal Supply Schedule and Public Health Service (340B). The latest enhancements automate complex government pricing definitions in order to reduce cycle time, eliminate rework and increase accuracy. Additionally, the new release offers enhanced scenario capabilities to assess the impact of government pricing models prior to implementation.

  • The iMANY Medicaid Rebates solution ensures compliance with the changes enacted by Health Care Reform legislation without customizations or ad hoc processes to support the federal Medicaid Drug Rebate Program and state supplemental and state pharmaceutical assistance programs.

  • The iMANY Validata® solution provides improved usability and tighter integration with iMANY CARS to further reduce inaccurate and duplicate claims and payments for commercial managed care, managed Medicaid and Medicare Part D rebate claims validation. 

  • The iMANY Demand Management solution now features an array of self-service, purpose-built and ad-hoc operational and administrative reports and business visualization tools for the analysis and interpretation of performance data. These enhancements reveal patterns, anomalies, key variables and relationships with orders, shipments, returns, chargebacks, and 852 and 867 channel EDI data. The solution provides daily insights into channel inventory, sales uptake and product movement with the ability to syndicate enterprise-wide information to commercial operations, sales, marketing, supply chain, and finance.

  • The iMANY® ContractSphere technology platform includes enhanced usability and support for high availability and scalability for both transaction data and the iMANY Data Mart for Business Analytics. The new release fully leverages the cluster database with shared cache architecture of Oracle 11g Real Application Clusters. Additionally, the platform offers optimized CPU allocation of individual nodes to different types of sessions, as well as enhanced monitoring and management of iMANY applications with its Java Management Extensions (JMX-based) Framework.

"Our goal is to meet the constantly evolving contract management and compliance needs of today's life sciences companies," said P. Kevin Kilroy, President and Chief Executive Officer of iMANY. "With the iMANY ContractSphere 7.5 release, we're moving forward with that mission, delivering greater value to our customers than ever before."

About iMANY
iMANY is the leader in contract performance -- helping organizations improve the way they manage complex commercial and government contracting and compliance strategies by aligning actionable information with revenue-based transactions. The iMANY ContractSphere platform, the industry's only integrated solution for contract performance, optimizes the entire contract lifecycle, limits gross-to-net margin erosion and ensures compliance in today's heightened regulatory environment. Hundreds of organizations across 21 industries worldwide, including the top 10 life sciences companies, depend on iMANY to reveal insights that drive more profitable business relationships. For more information, please visit www.imany.com.

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