Government Pricing

Ensuring Government Compliance

In recent years, federal and state governments have produced a complex array of drug pricing regulations, which continue to present increased challenges for pharmaceutical manufacturers. Furthermore, increased legal scrutiny and resulting civil and criminal fines by the government have brought a sense of urgency to the issue of government compliance. As a result, pharmaceutical manufacturers are investing in establishing major government compliance initiatives both inside and outside the company to manage the legal and business risk associated with these challenges.

Model N Government Pricing

Model N Government Pricing provides users with a powerful solution to create and manage their policies by allowing them to define formulas, data filters, and business rules associated with each methodology. Users can perform all necessary calculations, analyze, and validate the results. Through integrated workflow, calculation results can be sent for further approval before being filed with the government. Model N Government Pricing ensures transparency and auditability by providing visibility into data and tracking user actions at every step of the process. Seamless integration with commercial pricing and contract management applications allows users to better manage the dependencies between commercial and government pricing strategies.

Accurate, Consistent, and Auditable Filings

Model N Government Pricing manages all aspects of the government pricing process from setting up government pricing methodologies to calculating, analyzing, and filing with government agencies. Once the formulas, data filters, and business rules associated with a calculation methodology are defined and activated, pricing analysts can start performing their periodic price calculations by creating workbooks.

When an analyst creates a workbook in Model N Government Pricing, all the formulas, data filters, and business rules of the associated price type are applied to the transaction and reference data in order to compute the desired price values. Analysts can easily view and include or exclude those specific transactions that were incorrectly excluded or included. Once the calculation process is complete, pricing analysts can focus on those products whose calculated values resulted in exceptions due to negative values, no data, etc. Model N Government Pricing allows analysts to view the exception details as well as the details of the computation by formula component. Furthermore, they can drill down deeper to view the source transaction data to research and resolve these exceptions.

Once all exceptions are resolved and accepted, workbooks are then submitted for approval by pricing managers through the integrated Model N workflow module. Analysts are notified based on the approvers’ actions and can then close the workbook in order to file the results with government agencies.

Government Pricing at a Glance