Pharmacy Pricing Audit

How Much Are Supplier and Distributor Pricing Errors Costing Your Hospital?

The average pharmacy invoice error rate is approximately .75 percent of the total pharmaceutical purchases.

Even with all the proper safeguards in place to ensure payments are made correctly, some invoices are still paid at the incorrect price. One Group Purchasing Organization has stated that 35 percent of all health care purchase orders have errors that result in overpayments.

Utilizing Contract Management Strategies’ AuditRX™, our drug purchase audit software will identify pricing errors that lead directly to recoveries for our pharmacy clients.

What Determines the Price You Pay?

  • GPO pricing agreements plus or minus wholesalers markups
  • Manufacturing pricing agreements
  • Contract timing vs. signing agreements
  • Local agreements
  • Tiered contract pricing
  • Packaging changes
  • Market share pricing

The CMS Process for Recovering Overpayments

  • We obtain your pharmacy purchase data
  • Determine correct pricing based on your contracts
  • Identify overpayments that have occurred
  • Review potential overcharges with you
  • Confirm, validate and recover the overpayments from vendor
  • Provide a report detailing the overpayments, causes and recommend solutions to prevent their reoccurrence

Our fees are based on a percentage of client’s actual savings. A client risks nothing and gains a wealth of industry talent and experience.

Contact Us Today

Contract Management Strategies’ experience in recovering lost dollars from disbursement to procurement recovery audits is unmatched in the industry.

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