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Government and Commercial Pricing & Contracting

Helping life sciences clients establish and manage performance of their government and commercial contracts to build market strength and maintain compliance.

The Baker Tilly life sciences advisory and support solutions team understands the criticality for life sciences companies to adopt comprehensive contract strategies and proactively monitor and manage compliance to these contracts over time. With heightened federal scrutiny and increasing consumer pressures on the industry, combined with a seemingly endless number of complex laws and regulations, our clients lean on our team of Value Architects™ for expertise in selecting and implementing the safe guards necessary to maximize efficiency while effectively mitigating risk.

    Due to increased scrutiny on the life sciences industry, it is more important than ever to have strong contracting and performance management strategies. A negotiated commercial agreement must take into consideration government best-price implications. Following signature, not only does a life science company need to understand and manage individual terms across their inventory of active contracts, but it also must stay current with reporting obligations they are subject to when participating in related government programs. With laws and regulations constantly changing and gradually shifting towards more stern enforcement action, it is crucial that life sciences companies rise to the occasion.

    Despite the number of challenges, there are great opportunities for life science companies that do this well. Through the implementation of strong commercial contracting strategies combined with proactive contract management across commercial and government programs, a life science company is at much less risk of being subject to hefty fines, penalties or even potential debarment from government program participation. Further, effective contract management strategies can help verify that all transactions are appropriately tracked. With the tight margins that many life science companies face, incorrect tracking of transactions can mean the difference between meeting their financial targets or not. Furthermore, doing this well can help a life science company build or maintain a strong brand reputation, ultimately leading to improved sales opportunities.