VENTEGRA ANNOUNCES THIRD-PARTY AUDIT VALIDATION OF ITS ROBO-REBATE® SOFTWARE
The result of a recent comprehensive audit affirms the value that healthcare entities enjoy with Ventegra's proprietary Robo-Rebate® software.
GLENDALE, CA –Ventegra, Inc., a Medical Benefit Manager (MBM) that delivers innovative, cost-efficient pharmaceutical and healthcare solutions to payors, providers, patients, and the pharmaceutical industry, announces the most recent validation of its Robo-Rebate® software by an independent third-party auditor that resulted in no findings nor clawbacks that required returning money to clients.
A world's top 5 ranked pharmaceutical manufacturer recently completed a detailed audit of Ventegra using a large third-party auditor. They conducted two separate audits on submissions generated by Ventegra's proprietary Robo-Rebate software resulting in zero financial impact to Ventegra and Ventegra's clients. The audit reviewed millions of dollars in complex medical benefit claims spanning Ventegra's largest clients and risk-bearing medical groups (approaching 200 distinct entities).
Ventegra's Robo-Rebate software tracks rebate growth and savings with true transparency to help clients maximize savings while supporting quality care. The Robo-Rebate software provides an efficient, automated approach to managing rebates, giving clients peace of mind that their rebates will be accurately processed.
Mariana Ritchie, MPH, CPhT, Vice President of Industry Relations, says, "This comprehensive audit, like many others before it, again confirms the integrity by which Ventegra administers its obligations to our clients and pharmaceutical manufacturers on discounts and rebates. It reflects the unique recognition that the industry has placed on Ventegra by designating it as the first entity contractually named as a Medical Benefit Manager (MBM) class-of-trade in 2014."
In making the announcement, Robert T. Taketomo, Pharm.D., MBA, President/CEO, adds, "This arduous audit affirmed the capabilities of our proprietary Robo-Rebate technology in administering discounts on behalf of the industry and our clients with a level of capability, integrity and transparency that is unique to the Medical Benefit Manager business model. After 20 years of development and refinements, it is gratifying to receive third-party validation on the accuracy and reliability of our Robo-Rebate software."
Ventegra remains one of the few independent entities in the market that directly contracts with manufacturers and passes on such discounts directly to clients. It is also the only B-Lab Certified California Benefit Corporation administering pharmacy and medical benefit programs under the MBM class-of-trade. To further its mission to provide more cost-effective healthcare to the communities served, Ventegra, Inc. is in the process of transitioning its business to Ventegra Foundation, a California Nonprofit Public Benefit Corporation.
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About Ventegra, Inc.
Ventegra, Inc. is the legacy Ventegra that is dedicated to servicing Ventegra Foundation. A complex transition process has begun, and over time, Ventegra, Inc.'s mission will be fully assumed by Ventegra Foundation. www.ventegra.com
About Ventegra Foundation
Ventegra Foundation is a California Nonprofit Public Benefit Corporation. Its mission is to establish new channels for delivering better efficiencies and more cost-effective healthcare for the community that is served. Ventegra Foundation is expected to be fully operational by June 30, 2024. www.ventegra.com
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What are Fraud, Waste, and Abuse?
FRAUD is generally defined as knowingly and willfully executing, or attempting to execute, a scheme or artifice to defraud any health care benefit program or to obtain (by means of false or fraudulent pretenses representations, or promises) any of the money or property owned by, or under the custody or control of, any health care benefit program. (18 U.S.C. § 1347)
WASTE is overutilization of services or other practices that, directly or indirectly, result in unnecessary costs to the health care system, including the Medicare and Medicaid programs. It is not generally considered to be caused by criminally negligent actions, but by the misuse of resources.
ABUSE includes any action(s) that may, directly or indirectly, result in one or more of the following:
Unnecessary costs to the health care system, including the Medicare and Medicaid programs
Improper payment for services
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Services that are medically unnecessary
Abuse involves payment for items or services when there is no legal entitlement to that payment.
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If you suspect fraud, waste, or abuse in the healthcare system, please report it. To report suspected fraud, waste, or abuse, you can contact Ventegra:
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