TURN A TOP-LINE PROBLEM INTO A BOTTOM-LINE SUCCESS

In their new role as strategic business advisors, pharmaceutical and biotechnology finance executives are under increasing pressure to eliminate financial risk. With top-line growth slowing in an uncertain economy and regulatory scrutiny increasing, the need to reign in lost revenue and “get the numbers right” has never been greater. In this emerging paradigm, companies of all sizes must reach for a ‘new and nimble' pharmaceutical model in order to survive and thrive.

These growing pressures are adding stress to already overburdened finance executives. This reality is reflected by a dramatic increase in financial restatements, corporate integrity agreements, and deferred prosecutions, and most notably, the more than $5B in fines levied against pharmaceutical and biotech manufacturers since 2002.

in the pharmaceutical and biotechnology industries, a host of new regulatory mandates, from the Medicare Modernization Act to the Deficit Reduction Act of 2005, has further muddied the waters and competition has grown fierce. Yet, a majority of pharmaceutical and biotech companies still rely on error-prone spreadsheets, generic point solutions, and unwieldy homegrown systems to manage highly complex revenue life cycles — from pricing and contracting to settlements and compliance.

Revenue Management offers a more holistic and strategic approach to managing the revenue life cycle that aligns currently disparate processes through a combination of industry best practices and advanced software technology. With Revenue Management, pharmaceutical and biotech organizations can reduce revenue leakage and enhance regulatory compliance to boost margins and gain competitive advantage.

Revenue Management addresses the key revenue processes that impact the fiscal responsibilities of the office of CFO. Model N is pleased to present a series of informative offerings and programs (see right) designed to help pharmaceutical and biotech CFOs and finance executives navigate the new business climate — and leverage Revenue Management to turn this top-line problem into bottom-line success.