NL Health Services Partners to Improve Pharmaceutical Rebates
Newfoundland and Labrador (NL) Health Services and Lyfegen, a global rebate management software provider headquartered in Switzerland, have partnered to implement an innovative platform to streamline and improve the pharmaceutical rebate submission process for some oncology and other drug products. Newfoundland and Labrador is the first location in Canada to use this digital platform.
As part of the pan-Canadian Pharmaceutical Alliance collective negotiation process, NL Health Services holds confidential agreements, called product listing agreements, with pharmaceutical companies to fund specific drugs at a sustainable price through the use of a rebate process. These agreements allow NL Health Services to cover treatments that otherwise may not be affordable. Each agreement contains its own confidential terms achieved during the national negotiation process, and managing numerous agreements with various different terms can be complex.
“NL Health Services is excited to partner with Lyfegen to help streamline the process to manage rebates for various drugs by switching from a manual process to this innovative automated platform,” said Ron Johnson, chief operating officer of the Eastern-Urban Zone and vice president of Innovation and Research for NL Health Services. “By using this automated platform, we are increasing pharmaceutical rebate workflow efficiency, thereby decreasing potential manual miscalculations and any associated lost revenue.”
The cloud-based platform manages the complexities of drug rebate administration for payers such as NL Health Services and pharmaceutical companies by automatically calculating rebates and facilitating the invoicing process. Built with data security and data privacy top-of-mind, the platform provides real-time data and ensures that each rebate is valid and accurate.
“We are thrilled to partner with NL Health Services, leveraging our cutting-edge rebate management platform to revolutionize the pharmaceutical rebate submission process,” said Girisha Fernando, CEO of Lyfegen. “This partnership is a testament to NL Health Services and Lyfegen’s combined commitment to drive innovation and efficiency in health care. By automating and streamlining the rebate process for NL Health Services, we are directly delivering on our mission to provide access, pricing, and rebate solutions to health-care systems so that they can make health care more efficient and, ultimately, provide access to the health-care treatments patients need.”
This innovation is aligned with NL Health Services new mandate, mission and vision which speaks to using innovation and partnerships to strive for excellence to support the health and well-being of the people of Newfoundland and Labrador and to create a more sustainable health system. NL Health Services’ Innovation Strategy aims to improve health-care services and programs through the application of innovative solutions; maximize health system efficiencies and minimize associated costs by leveraging the innovation ecosystem to build partnerships and generate revenue; and generate economic development in the province and increase employment.
For more information, please visit the Research and Innovation website.
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About Newfoundland and Labrador Health Services
Newfoundland and Labrador Health Services (NL Health Services) brings together five former separate health entities – Eastern Health, Central Health, Western Health, Labrador-Grenfell Health, and the Newfoundland and Labrador Centre for Health Information. The creation of a provincial health authority was announced following recommendations from Health Accord NL.
NL Health Services is responsible for delivering health and community services to more than 528,000 people living in Newfoundland and Labrador and employs over 22,000 people. NLHealthServices.ca.
About Lyfegen
Lyfegen is an independent provider of access, pricing and rebate solutions designed for the health-care industry. Lyfegen’s solutions are used by health insurances, governments, hospital payers, and pharmaceutical companies around the globe to dramatically reduce the administrative burden of managing complex drug pricing agreements and to optimize rebates and get better value from those agreements. Headquartered in Basel, Switzerland, the company was founded in 2018 and has a market presence in Europe, North America, and the Middle East. Learn more at Lyfegen.com.