Model N Announces Industry-First Revenue Planning and Intelligence Solution for Life Science Manufacturers
Model N Announces Industry-First Revenue Planning and Intelligence Solution for Life Science Manufacturers
Innovative solution gives finance and sales leadership heightened confidence in revenue planning and risk assessment.
Redwood Shores, California () November 5, 2007 — , a leading provider of , today announced the release of its Revenue Intelligence solution for the Life Science industry. Model N Revenue Planning and Intelligence (RPI) provides CFOs, finance executives, and government pricing and compliance managers with unparalleled revenue planning, risk assessment and business intelligence capabilities.
The latest addition to Model N's best-of-breed Revenue Management Suite, the initial RPI release is designed to meet the unique business requirements of the pharmaceutical industry. The solution will help manufacturers enhance revenue planning and mitigate regulatory risk by:
- Delivering real-time, strategic business intelligence to Government Pricing and Medicaid programs
- Providing finance executives and managers with actionable information to address key questions and examine probable outcomes that impact revenue strategy and business decisions
- Empowering finance and sales executives to accurately forecast and model the liability impact of regulatory and commercial scenarios to maximize profit
Seamlessly integrating with legacy systems and internally developed solutions, RPI delivers in-depth access to revenue and liability outcomes with contextual intelligence into historical data. By defining parameters and assumptions, users can accurately emulate anticipated scenarios and subsequently evaluate their impact through dynamic reporting and data views. The solution's leading-edge functionality allows users to:
- Dynamically control time ranges and included products
- Create comprehensive scenarios within analyses
- Define specific forecasting assumptions related to sales, pricing, policies, and utilization
- Deduce future values based on historical trends
"In relying on disparate legacy solutions and internally developed spreadsheets, the pharmaceutical industry's operational arsenal has been missing a critical regulatory decision making tool," says Carlos Moreirra, Practice Leader at IMS Contracting & Compliance. "Legislation such as the recent Deficit Reduction Act has dramatically underscored the strategic importance of having predictive analytical capabilities. Model N's RPI application elevates the value of any current or proposed investments in contracting, pricing, incentives and compliance management by delivering a robust, integrated solution for analyzing the impact that competitive and regulatory decisions will have on profitability and compliance."
Customer-Driven Innovation
Model N worked closely with customers in its Preferred Design Partner program to create a solution that delivers the predictive analytical capabilities pharmaceutical manufacturers require in an increasingly competitive and regulated business landscape. In addition, Model N's Customer Advisory Board contributed key insights during the product development process while validating the product strategy and roadmap. These key partnerships have helped Model N supplement RPI with unmatched revenue planning capabilities that substantially eclipse the traditional forecasting tools in use today.
"Model N's philosophy for new product development places high importance on market-driven requirements and RPI was no exception," says Sujay Jadhav, Vice President and General Manager of Life Sciences at Model N. "With invaluable input from Model N's preferred design partners and customer advisory board, we've created a breakthrough solution that allows finance, sales, and contracting teams to collaborate in determining how critical business decisions will affect revenue and regulatory liability."
Local Showcase Opportunities
Companies interested in information about acquiring or replacing solutions for revenue planning and risk assessment can take advantage of a unique RPI showcase program being conducted by Model N and its industry partners in November and December. This unique program gives finance, sales and contracting stakeholders an opportunity to engage with Revenue Management experts to review the new solution and examine how to include the application in their Revenue Management plans. The sessions will be held in various Model N offices or onsite at the offices of interested companies. Inquires and site visit requests can be directed to Gopkiran Rao at [email protected].
About the Model N Revenue Management Suite
The Model N Revenue Management Suite offers a solution to the challenges facing pharmaceutical manufacturers today. The suite aligns the currently disparate processes of pricing, contract creation and administration, payment of settlements and filing of government pricing and rebate claims through a combination of industry best practices and breakthrough software technology that reduces the risks of revenue leakage and regulatory non-compliance. Sharing a common technology platform, the applications in the suite provide direct control of the critical processes across the Revenue Management life cycle from pricing and payment of chargebacks, rebates, and fees through regulatory compliance management, as well as revenue impact and regulatory risk assessment.
About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing strategy and execution, contracts, compliance, rebates, fees and charge-backs optimized for the industry practices of Life Sciences and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government reporting regulations such as Sarbanes-Oxley and government pricing requirements. Customers include: Boston Scientific Corporation; Bristol-Myers Squibb Company; Cypress Semiconductor Corporation; Intersil Corporation; Linear Technology Corporation; Medtronic, Inc.; Microchip Technology, Inc.; Micron Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; ON Semiconductor, Inc. and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information, visit .
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Posted in Pharmacy