Remain competitive and Focus on innovation and positive patient outcomes with IMA360
Nanotechnology, Machine Learning (ML) / Artificial Intelligence (AI), Wearable Devices, Telemedicine are just a few examples of how this industry spurs Innovation.
The medical device industry is continuously advancing and innovating in a highly competitive market driven by technology. However, Vertical Integration in the industry is picking up speed, and there are tremendous pricing pressures because of this consolidation.
IMA360’s solutions can help provide the 360-degree visibility you need.
Medical Devices
Full suite of solutions to Configure, Price, Quote, Promote and Optimize
Full suite of solutions that will help reduce cost and complexity in end-to-end processes from planning-budgeting to execution in your profit generating systems with a tight control, visibility and optimization of your medical devices pricing and incentive programs.
Distributor Rebates
Efficiently handle various rebates, such as Fee for Service, Channel Performance, and Price Protection.
Automate the entire chargebacks process seamlessly with EDI 844/845/849/867 mapping, delivered out of the box, and harness the power of blockchain capability for added efficiency and transparency.
Rebate engine that allows to efficiently manage the Contract to Settlement process, including setup, eligibility, calculation, and payment to distributors.
GPO Contracts
Automate Master Rostering with dynamic address matching, automated data validations, and COT (Class of Trade) assignments, ensuring accurate GPO rostering. In addition, efficiently maintain multi-tiered contracts.
Facilitate seamless reconciliation of internal and external class of trade cross-references.
Automate Admin Fee calculation and payment, providing comprehensive details for complete transparency.
Health Systems
Efficiently handle GPO Pass-through Rebates, calculating and paying them as needed.
Maintain the complete life cycle of health systems’ direct contracts, giving them priority over indirect contracts, based on predefined business priorities.
Sales Commissions
Reward your Top-Performing Sellers, using SPIFFs as a short-term incentive to boost sales of a specific medical device.
Complete transparency, tracking and real-time status on claims, Sellers will always know where they stand in terms of closing sales.
Efficiently calculate and disburse sales commissions for your employees, considering both direct and indirect sales.
Streamline sales commission processes for your outside sales agents with automation.
Price Management
Manage Prices centrally for all your consumable products and complex or high-value devices, in a flexible and agile way. Maintain a single source of truth for all prices and discounts, with seamless integration into ordering systems.
Efficiently build and distribute price catalogs and generate real-time quotes with AI-powered margin analysis for direct contracts.
Pricing engine that can easily handle the most complex products and key pricing figures, providing easy data access and visibility from Base/List Price to Net and to Margin.
Analyze margins when negotiating contracts with GPOs.
Profit Optimization Strategy
Maximize profits by optimizing pricing and incentives.
Analyze real-time profitability at any level for a comprehensive understanding. Drill down at any level for data-driven insights.
Leverage AI-driven sales forecasts to ensure precise demand predictions, empowering you to model your pricing, promotions, and incentives effectively.
IMA360 Medical Devices Solution Features
Drive Growth and Profitability by analyzing and optimizing your Pricing, Promotions, and Incentives with IMA360’s Profit Optimization software.
IMA360 Solution capabilities
Trust IMA360 platform with advanced capabilities, driven by AI and ML, to provide holistic and accurate insights of your pricing and incentives management system.
Unique features
- Take advantage of IMA360’s platform as a service for greater flexibility.
- Take advantage of pre-configured, Medical Device industry-specific capabilities for ease and speed of deployment.
- Leverage built-in, proven best practices, forms and workflows.
Digital Transformation/Smart processing
- Leverage IMA360 functionality on a scalable and secure cloud platform with configurable extensions and personalization, instead of customization.
- Use EDIs to safely share information with external partners.
- Collaborate easily with your channel partners without the need for emails with excel files on collaboration portal to settle claims and resolve claim disputes.
- Optimize complex workflows and increase efficiency.
- Single, unified, and integrated solution ensures integration with most ERP systems.
Decreases Operational Complexity
- Ensure standardization of Pricing and Promotions processes across Division Groups, Product lines and Regions to support a Global Design and a Global visibility.
- Run your entire business–every department, every site, every region and every country– on one platform and solution. One source of truth.
- Ease price and incentive operational process on complex or high-dollar medical devices.
Optimize Process, Achieve Profitability
- Make sense of the complex and often error-prone processes of contract-setup, pricing, eligibility, claiming, calculation and settlement with a solution built to drive efficiency with full contract and program management capabilities.
Analytics & Reporting
- Analyze historical data to gain insights into deal win rates and profitability and uncover pricing leakage. Visualize pricing data by running price waterfall and funnel charts.
- Make better decisions with proactive analytics and reporting.
- Multiple dashboards available for deeper analysis. Configurable dashboards, Operational reports, and Self-serve zero code reports.
Security And Regulatory Compliance
- Complete online real time tracking and audit trail for all types of promotions, incentives or pricing related data. Ability to route any price or contract change to the approval process ensuring compliance.
- Robust and easy to configure security role designer, provides the means to address security and compliance requirements including SOD-Segregation of Duties.
Integrated with most ERP/CRM solutions including
IMA360 Automotive Solution capabilities
Drive Growth and Profitability by analyzing and optimizing your Pricing, Promotions, and Incentives with IMA360’s Profit Optimization software.
Unique features
- Take advantage of IMA360’s platform as a service for greater flexibility.
- Take advantage of pre-configured, automotive industry-specific capabilities for ease and speed of deployment.
- Leverage built-in, proven best practices, forms and workflows.
- Trust IMA360 platform with advanced analytics, driven by AI and ML, to provide holistic and accurate insights of your pricing, promotions and incentives management system.
Optimize Process, achieve Profitability
- Make sense of the complex and often error-prone processes of contract-setup, pricing, eligibility, claiming, calculation and settlement with a solution built to drive efficiency with full contract and program management capabilities.
Digital Transformation/Smart processing
- Leverage digital technology and data insights to manage your pricing and promotion execution, while optimizing margin and profitability. Analyze historical data to gain insights into deal win rates and profitability and uncover pricing leakage. Visualize pricing data by running price waterfall and funnel charts.
- Leverage IMA360 functionality on a scalable and secure cloud platform with configurable extensions and personalization, instead of customization.
- Use EDIs to safely share information with external dealer partners.
- Optimize complex workflows and increase efficiency.
- Ensure you can continue to securely integrate and access data from other systems. Single, unified, and integrated solution ensures integration with most ERP systems and easy to set up integrations for in-house legacy systems.
- Make better decisions with proactive analytics and reporting.
- Collaborate easily with your channel partners without the need for emails with excel files on collaboration portal to settle claims and resolve claim disputes.
- Multiple dashboards available for deeper analysis. Configurable dashboards, Operational reports, and Self-serve zero code reports.
Decreases Operational complexity
- Ensure standardization of Pricing and Promotions processes across Division Groups, Product lines and Regions to support a Global Design and a Global visibility.
- Run your entire business–every department, every site, every region and every country– on one platform and solution. One source of truth.
Security and regulatory compliance
- Complete online real time tracking and audit trail for all types of promotions, incentives or pricing related data. Ability to route any price or contract change to the approval process ensuring compliance.
