Single Channel Services
Getting to the perfect price
With an estimated industry loss of $1.3B annually due to price exceptions, it is critical to tackle this industry-wide challenge. Now using the HIDA (Health Industry Distributors Association) standard, automation can be widely utilized for the thousands of price changes occurring daily between manufacturers, distributors and providers to achieve maximum alignment of pricing among trading partners.
Get started with a dynamic distribution of data
Industry pressure is growing to automate a larger set of transactions with requirements often written into partner agreements. Automate advanced transactions to elevate service levels and meet regulatory compliance requirements. This is the path to price alignment and efficient reconciliation.
Single Channel Services automate:
- Contract Notification (845) and Price Catalog (832) to help align contract and catalog pricing
- Chargeback Request (844) and Rebate Response (849) to help reconcile chargebacks and rebates
- Sales Tracing (867) to track returns and recalls, calculate sales compensation and GPO administrative fees
Features & Benefits
- Simplify price implementation and achieve benefits faster through a single channel solution
- Reduce errors and rework
- Realize revenue from misaligned pricing
- Meet trading partner and regulatory requirements for automating advanced transactions
- Cut down administrative time focused on pricing discrepancies
- Improve financial reporting accuracy