Eliminate Intuition from Pricing and Contracting Strategies
Competitive and market pressures in the Med Device industry are shifting the focus from top-line growth to increased profitability. Industry executives want data on net price and are seriously scrutinizing all deductions to gross-to-net price and revenue, from distributor rebates to free goods and sales and marketing expenses. Executives are realizing that efficient pricing and contracting are paramount to boosting profitability and monitoring net price erosion risks.
Model N Price Strategy helps Medical Device pricing executives and P&L owners develop, monitor, and continuously drive optimal pricing strategies. The comprehensive solution eliminates intuition-based pricing, provides actionable guidance on revenue risks, delivers in-depth data mining and advanced scenario simulation and projection, and offers solutions and best practices consulting for advanced price scenario generation.
Actionable Analyses, State-of-the-Art Visualization
- Price ImpACT
Analytics and Best Practices ConsultingModel N business consultants can help answer difficult business questions.
Price Segmentation and Optimization: Model N segments markets and factors in customer price sensitivity and attributes to generate optimal segment-specific price recommendations.
International Reference Pricing: Model N aligns global teams and country affiliates around rules and send alerts to avoid penalties and reduce litigation risks; price change and launch sequence optimization is offered as a lighthouse solution.
Price Scenario Analysis: Model N generates simulation models and analyzes institutional pricing and contract scenarios.
Secure SaaS DeliveryModel N Cloud lowers total cost of ownership and improves flexibility and efficiency without sacrificing the ability to manage complex data, process, or reporting requirements.
Application and Best Practices TrainingModel N empowers home office teams with analytic techniques to efficiently generate unique insights and drive actions in the field. Education and Training are offered to help the field boost pull-through.
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After implementing Model N, we measured a reduction by one percentage point in year-over-year price erosion in Europe (-2.5% vs. -1.5% on average).
Head of International Pricing
Top 10 Biopharma Manufacturer