Model N Medical Technology Suite

Taking the Risk Out of Revenue

With growing competitive pressures and increasing risk of government regulatory oversight, medical technology manufacturers face an unprecedented level of complexity in managing sales and revenue. The challenges are magnified because many of the processes and systems related to the revenue life cycle are spread across multiple departments in the organization. As a result, it is common to find poor hand-offs between pricing, contracts, and settlements processes, and gaps in monitoring and documentation which, when combined, lead to significant revenue leakage and regulatory compliance exposure.

Model N Revenue Management Suite for Medical Technology

The Model N Revenue Management Suite for Medical Technology introduces a new solution to the challenges facing leading medical technology manufacturers today. The suite links the currently disparate processes of pricing, contract creation and managment, performance compliance, and payment of settlements through a combination of industry best practices and breakthrough software technology. Sharing a common technoogy platform, the applications provide complete control of the processes across the revenue management life cycle as well as integrated regulatory compliance controls.

Reducing Regulatory Exposure and Revenue Leakage

Few activities are as important to business as the creation of pricing, negotiation and management of sales contracts, and the execution of incentive programs. Unfortunately, these key determinants of corporate revenue are the last bastion of the world of spreadsheet automation, file cabinets, and “swivel chair” integration — literally, the reentry of data from one computer to the next.

The Model N Revenue Management Suite introduces the ability to manage the revenue life cycle as an integrated, end-to-end process. The suite is designed for use across multiple departments including sales, contracts, finance, and marketing, providing shared process flows and access to common data across all applications.

Applications in the suite address specific functionality such as creating pricing and policies, developing contracts, managing membership and eligibility, processing distributor rebates, tracking customer compliance, and paying rebates and fees. However, the individual applications also share data and services, and extend process functionality across application boundaries so that, for example, price policies created in the pricing application can be enforced during contract development.

The suite also provides powerful workflow management, alerts, and notifications, reducing administrative burden and enabling business to manage by exception. The same infrastructure also provides a comprehensive set of functionality for recording actions, approvals, and versions of documents, providing a complete audit trail across the revenue life cycle.