At Innovatix, we realize that securing best-in-class pricing is only half of the equation. That’s why we’ve developed a suite of tools and membership services designed to ensure that you receive discounted pricing and have sufficient data to make informed purchasing decisions.
Contract Attachment: Electronic contract attachment technology allows Innovatix to initiate and renew contracts on behalf of our members, streamlining the attachment process and minimizing the onboarding process.
Analytics: Innovatix can help you meet your savings goals through our advanced analytical services. By analyzing your previous purchasing history, we are able to identify how you can save by switching to our contracted products, provide access to enhanced tier savings, and benchmark pricing across your facility.
Auditing: Innovatix maintains a dedicated Auditing Department that tracks pricing accuracy, contract compliance, and supplier eligibility. Working closely with the supplier, distributor, and wholesaler communities, our monthly audits result in additional savings in the form of credits and rebills. In the past, credits have ranged from as little as $.01 to as much as $10,000 – no amount is too small for us to pursue in order to ensure your savings.
To help our members make informed purchasing decisions, Innovatix offers a number of valuable reports. Our reporting tools include:
AWP Change Report
This report illustrates the impact of recent changes in Average Wholesale Price (AWP). The report uses actual sales data to determine the potential cost impact on your organization.
Drug Shortage Reports
Managing drug shortages can be very time consuming at the individual facility or pharmacy level. This report is designed to identify drug shortages and product recalls, and provide comparable contract and non-contract drug alternatives.
Future Price Change Reports
Based on your current purchases, this report identifies upcoming changes that may impact your purchasing costs. It alerts your facility to price decreases, price increases, and expirations.
Generic Equivalent Reports
The generic equivalent report was created to help maximize savings. The report shows you items that you purchase for which Innovatix has generic equivalents on contract and will estimate savings based on price or spread.
Purchases by Therapeutic Class
This report allows you to view your purchases by therapeutic class and identify which product has the most significant spend in the therapeutic class.
This report shows current rebate status and projects quarterly rebate earnings.
Rebate Next Tier Projection Report
This report helps project and estimate rebate dollars available to your facility.
This report allows you to review your current rebate status and market share percentage within your participating rebate programs.
Rebate Program Participation
This report lists all the rebate programs available to your organization.
Utilization-Based Rebate Reports
In addition to traditional purchase-based rebate programs, Innovatix offers a number of rebate programs based on utilization. In connection with these programs, Innovatix has developed proprietary systems and reports to support the needs of members.