What makes EmpowerRM innovative is that it is extremely flexible and scalable. Besides that, it has seamless integration with enterprise resource planning (ERP) and accounting systems. Using advanced validation, it identifies discrepancies arising from wholesalers like providing inaccurate pricing on the chargeback line or selling products to ineligible customers, which cause financial loss for pharmaceutical manufacturers.
Our advanced software automates chargeback processing and helps pharma manufacturers to cut costs and minimize revenue leakage
“As our core values are innovation and passion, we have always strived to fill gaps in the market and transform the way our customers do business by leveraging technology,” says Hoenig.
When this process is outsourced, it can become costly because everyone charges by usage. Even though a company may start out small and it makes sense financially to outsource, as time goes on, the costs don’t scale well and it becomes more appealing to bring it in-house.
“Many pharmaceutical manufacturers say they want to pay less for chargeback processing solutions, however, that’s because they aren’t getting the ROI or the value from what they are doing currently. If they could clearly be shown that the software more than pays for itself, then why wouldn’t they buy it? Many pharmaceutical manufacturers are outsourcing this process, but we are working with several to bring it back in-house to reduce costs and give them more insight and control,” says Hoenig.
Hoenig plans to power the offering with AI and predictive analytics capabilities, which would further help pharmaceutical manufacturers in identifying opportunities to renegotiate pricing, cut costs, and generate more revenue.
MDH Insight is a technology company that focuses on delivering innovative software solutions to the pharmaceutical industry. The EmpowerRM solution is designed to bring enterprise-level software capabilities to small and mid-size manufacturers.