Pharmaceutical companies grapple with costly deduction errors, including excessive rebates, chargebacks, and returns, leading to millions in lost profits. Smyyth's expert pharma solutions deduction teams, combined with our proprietary Carixa AR automation software, identify and recover the excessive and incorrect GTN losses, typically representing 5-13% of gross sales for most pharmaceutical companies. We automate the deductions management process, ensuring seamless management and recovery of erroneous deductions and identification of the system errors that repeat.
Our pharma solutions services are available on a project basis or as a comprehensive, long-term solution integrated with your ERP system. We also help implement strategic deductions management processes to prevent future deductions, eliminating chronic profit leakage. When it comes to maximizing pharmaceutical gross-to-net revenue, no one does it better than Smyyth.
CVS Caremark, Walgreens Boots Alliance, Rite Aid, Shoppers Drug Mart, Health Mart, Jean Coutu Group, London Drugs, Rexall , McKesson, Medicine Shoppe, Walmart, Costco, Cardinal Health, AmerisourceBergen, Kroger Pharmacy, Albertsons Pharmacy, Hy-Vee Pharmacy, Publix, H-E-B, Wegmans
Are excessive deductions eroding your profits? Returns from drug distributors contain errors in SKU, NDC quantity, and pricing, with error rates as high as 50–70%. Carixa, our industry-leading software, simplifies and automates the reconciliation of debits and credits—uncovering, documenting, and recapturing deductions that would otherwise be lost.
Our deduction recovery specialists excel at identifying and recovering invalid customer deductions. Whether the deductions involve volume allowances, discounts, pricing discrepancies, returns, or shortages, we’ve delivered tens of millions of dollars in recovered funds for our clients through our tailored deductions management processes.
Take control before deductions occur. Carixa’s proactive capabilities autonomously resolve “pre-deduction” claims on customer portals during their grace period, effectively preventing future revenue leakage.
Our AI-powered matching capabilities handle transaction reconciliation at any scale. By translating customer codes into your internal codes, Carixa eliminates mismatches and streamlines the deductions management process. Our management reports provide detailed insights into root causes and actionable recommendations for operational improvement.
Stop writing off collectible deductions. Trust Smyyth to maximize recovery and protect your profits.
Returns and reconciliation errors don’t have to drain your resources. Our pharma solutions included automated debit memo vs. credit memo reconciliation that can be integrated into your daily processes or deployed as a special project for global settlements with key customers.
Key Features of Our Pharma Solutions:
Our pharma solution transforms the complex and time-intensive deduction-credit reconciliation process, eliminating the need for multi-step manual efforts and ensuring accurate results every time to resolve chargeback variances.
How We Help:
With Smyyth's pharma solutions, you ensure accurate chargeback reconciliation while saving time, reducing errors, and securing your bottom line. Don’t let avoidable errors and deductions impact your profitability. Contact Smyyth today to recover what’s yours and prevent future losses.
We can work with you in several ways to keep customer deductions under control, save administrative costs, and prevent profit leakage. Guaranteed performance with success-based contingent fees.
Our Deduction Teams put the power of Carixa A/R automation software to work for you for deduction processing, including AI-driven workflow, write-off controls, management rules, dashboards, and metrics. And we always keep you in the loop with detailed dashboards.
Contact us to learn more about how this service can function independently or as part of an integrated accounts receivable solution.