Kalderos Adds Powerful Features to Commercial Drug Discount Monitoring Solution
Drug Discount Management Leader Delivers New Tools to Tackle Billions in Overpaid Commercial Rebates
CHICAGO, Sept. 14, 2023 /PRNewswire/ — Data infrastructure and analytics company Kalderos, creator of the world’s first Drug Discount Management platform, today unveiled a transformative refresh to its Commercial Discount Monitoring solution that helps drug manufacturers better use data to inform their commercial contract strategies with pharmacy benefit managers (PBMs).
Drug manufacturers paid around $115 billion in commercial rebates to PBMs in 2022. According to Kalderos’ current analysis of its platform data, at least 5% of these commercial rebates are likely duplicated with 340B discounts, amounting to $6 billion annually. Whether duplicate discounts are ineligible for rebate varies by contract, causing billions in revenue leakage.
The Commercial Discount Monitoring solution leverages cloud-based data and analytics with integrated detection of 340B duplicates and other contractually ineligible rebates across commercial discount programs, providing customers with actionable insights on the terms and performance of their contracts. Tapping more than 20 data sets across government and commercial drug programs, the enhanced Commercial Discount Monitoring solution includes a proprietary 340B validation set that is six times more extensive than conventional methods.
“When you have more data, you are in a better position to make strategic business and contracting decisions,” said Kalderos President and Chief Operating Officer Micah Litow. “Our scalable technology platform stands as the industry leader in helping drug manufacturers gain data-driven insights that allow them to optimize the value of their commercial contracts. Today, Kalderos has empowered them with even more robust tools.”
The enhanced Commercial Discount Monitoring solution features new proprietary validations that bring in more datasets and catch more potential duplicate discounts than ever. This empowers manufacturers to:
- Enter commercial contract negotiations and renegotiations with confidence that they know the sources of revenue leakage
- Better understand the impact and context of their contract terms
- Negotiate with the data in hand
The enhanced Commercial Discount Monitoring solution also now includes Contract Performance Analytics to provide a deeper understanding of the impact of ineligible rebates – particularly 340B duplicate discounts – on contract performance.
With a solution that ingests commercial utilization data and breaks down contract performance into easy-to-understand analytics and dashboards, manufacturers now can easily identify which contracts are causing the most revenue leakage and create a data-driven strategy for PBM contract negotiations.
Since 2016, the Kalderos platform for Drug Discount Management has identified more than $1 billion in inaccurate discount requests. The company’s MDRP Discount Monitoring Solution was built to help manufacturers, covered entities and states collaborate to identify and resolve duplicate discounts. To date, thousands of covered entities have used the Kalderos for Covered Entities solution, Discount Hub, to verify $110 million in duplicate discounts with Medicaid.
Building on this expertise, Kalderos is now solidifying its offering in the commercial space with the enhanced Commercial Discount Monitoring solution. With $115 billion in annual rebates paid to PBMs, as compared to $43 billion in rebates to Medicaid, inaccurate commercial rebates have an even greater impact on revenue leakage.
About Kalderos
Kalderos is a data infrastructure and analytics company that created the world’s first Drug Discount Management platform, simplifying drug discount program compliance for all stakeholders. The platform applies sophisticated data models and machine learning to identify and resolve noncompliance, with collaboration-oriented solutions built for both drug manufacturers and covered entities. Based in Chicago, Kalderos was founded in 2016 by a team dedicated to reducing inefficiencies in the U.S. healthcare system, empowering everyone to focus on the health of people. More information can be found at www.kalderos.com.
Media contact:
Philip Anast
Amendola (for Kalderos)
panast@acmarketingpr.com
312-576-6990
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SOURCE Kalderos
