Model N to Speak on Global Pricing for Medical Device Companies

Model N will cover developing a well-rounded pricing strategy and staying ahead of pricing market trends in two signature sessions. CHICAGO, IL – September 16, 2013 – Model N, Inc. (NYSE: [...]

Model N will cover developing a well-rounded pricing strategy and staying ahead of pricing market trends in two signature sessions.

CHICAGO, IL – September 16, 2013 – Model N, Inc. (NYSE: MODN),  a leading revenue management solutions provider to the life science and technology industries, today announced it will present at this week’sMedical Device Strategic Pricing Conference in Chicago, Sept. 16-17. As Medical Device companies prepare for a new healthcare environment, this year’s conference focuses on how industry leaders can build the analytics, leverage the best practices, and utilize the value-based pricing models needed to remain competitive.

Model N Senior Director of Industry Solutions, Gop Rao, will moderate the panel, “Incorporating Cross-Department Knowledge to Create a Well-Rounded Pricing Strategy” (Mon., Sept. 16 at 1:30 – 2:15 p.m. CDT) this afternoon. The panel will feature executives from Wright Medical Technology, Johnson & Johnson Global Surgery and Biomet Orthopedics. The discussion will examine the business case for why and how pricing executives should take a financial viability approach to their pricing strategies while pulling knowledge across departments to strengthen those strategies.

Model N will also lead the presentation, “Utilizing IRP to Stay Ahead of Market Trends” on day two of the conference (Tues., Sept. 17 at 9:15 – 10 a.m. CDT). In this session, Rao will co-present with Model N Senior Director of Global Pricing and Market Access Solutions, Arnaud Grunwald, on how medical device companies, looking to expand their product line globally, can leverage cross border reference pricing when determining the price of those products. Through their review of major European and Asian market trends and reimbursement models, the session will provide attendees with vital information to be considered when determining the pricing strategy for a medical technology distributed on a global level.

“In today’s changing, global healthcare environment, pricing medical technologies has become a uniquely complex undertaking,” said Ken Pulverman, vice president of marketing at Model N. “The Model N team is pleased to contribute to this collaborative platform for advancing the decision making, analytical skills, and overall strategies needed to improve pricing and business results for medical device companies.”

In addition to presenting, Model N will be exhibiting as a silver sponsor at this year’s conference. Model N will also hold a networking dinner tonight at 6:15 p.m. for conference attendees at Ristorante Quartino. Interested parties may RSVP at the Model N booth during the conference or email Wendy Mayerson,wmayerson@modeln.com.

Resources:

Model N Solution Brief: International Reference Pricing

Model N Big Ideas: Global Pricing

Model N for Medical Device Companies

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

Model N Presents at the Largest, Annual Summit for Medicaid Drug Rebate Program (MDRP) Executives

ndustry stakeholders convene in Chicago to discuss and plan for 2014 MDRP best practices, challenges, and opportunities. REDWOOD CITY, CA – September 10, 2013 – Model N, Inc. (NYSE: MODN), a [...]

ndustry stakeholders convene in Chicago to discuss and plan for 2014 MDRP best practices, challenges, and opportunities.

REDWOOD CITY, CA – September 10, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced it will present at this week’s 18th annual summit on the Medicaid Drug Rebate Program (MDRP) currently running in Chicago. The summit is the foremost event of the year for all things government pricing, rebates, and regulatory in pharma with over 500 MDRP executives expected in attendance.

Model N Senior Director of Product Management, Scott Medberry, participated in yesterday’s 340B symposium for pharmaceutical manufacturers as a panelist during the “340B Hot Topics” session. The discussion covered insights on how manufacturers are getting ahead of enforcement scrutiny and avoiding HRSA audits, what manufacturers should consider doing to maintain compliance with accurate reporting of 340B ceiling prices, and lessons manufacturers can learn from HRSA’s audits of 340B covered entities.

Model N will lead a presentation this afternoon (Tues., Sept. 10 at 2:15 p.m. CDT) during the Contract Management, Business Analytics and Systems Implementation Track. In this session, “Taking Control of Bundling,” Model N Director of Global Customer Service and Support, Jesse Mendelsohn, and Model N Solution Architect, Gloria Kee, will discuss the incentive programs that are requiring the spread of bundled discounts and how to avoid noncompliance with Centers for Medicare & Medicaid Services (CMS) mandates. The presentation will also focus on areas such as managing and classifying agreements, reallocation methodology, and performing reallocations.

“The annual summit on the MDRP is the best opportunity for industry experts, pharma leaders, and government regulators to gather, discuss, and plan for the issues that impact the pharma industry in the space of government pricing,” said Ken Pulverman, vice president of marketing at Model N. “This an important annual event for Model N, and its customers, and provides valuable insights and guidance for the entire industry for the year to come.”

Model N is a gold sponsor at this year’s summit and is exhibiting at booth #15. Model N will also hold a networking dinner tonight at 7 p.m. for summit delegates at the Frontera Grill. Interested parties may RSVP at the Model N booth during the summit or email Wendy Mayerson, wmayerson@modeln.com.

Resources:

Model N Pharma Regulatory Compliance

Model N Pharma Chargebacks, Incentives, Rebates

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

Data, Processes, and KPIs: Global Market Access’ Path to being a True Competitive Advantage

I regularly speak with strategists at global pharma companies and, lately, the close relationship between global market access and global pricing has often come up.  The success of a new drug [...]

IRPgraphic_PreviewImage

I regularly speak with strategists at global pharma companies and, lately, the close relationship between global market access and global pricing has often come up.  The success of a new drug depends on positive health outcomes, of course, but also on positioning, competitive pricing and many other components that bring about effective reimbursement from increasingly cost-conscious payers, be they public or private. We all know the heydays of the 1990s and early 2000s when most drugs would be reimbursed by payers without problem are long gone. As a result, Market Access teams continue to rise in importance.

The Market Access folks are involved pre-launch in demonstrating the clinical and economic value of a drug. In the simplest of terms, their goal is to arrive at a win-win for the company and the payer, which ultimately translates to a win for the patients. Critical also is their ability to establish a favorable landscape for pricing managers who handle ongoing global pricing strategy and execution after launch. But there’s a lot that can go wrong in this process.

To succeed, Market Access teams need resources and insight across a vast network of stakeholders. Years before a product launches they’re working with the clinical team to position trial studies’ results, shape the target product profile, and with the regulatory teams to assemble the global value dossier in such a manner that the drug achieves as broad an indication as possible on label. All the while, they work under stringent timelines with different authorities such as the FDA, EMEA, Ministries of Health or other government entities. Once the label is approved, the pricing conversation begins. This is a very busy process with strict dates to respect on the way to a final launch date. Any delay may lead to loss of revenue through delayed launches but also through the complexities of international reference pricing. For instance, a late launch in France could result in a lower price for the subsequent launch in Belgium. It’s the Global Market Access team’s job to keep everyone coordinated around the timeline to prevent delay that affects revenue and price.

While Market Access teams have a fairly defined skillset and processes for bringing a new drug to market, I observe that most of them do not yet have systems to effectively collect and share market access data across the organization. Global Market leaders acknowledge that their teams are underequipped in this area: many use Excel worksheets or PowerPoint templates in a share drive to coordinate activities involving hundreds of people across the organization in order to launch a new product in dozens of countries in a matter of a few months. Everything is ad hoc and they have not defined consistent data and key performance indicators (KPIs). What it boils down to is a lack of visibility and measurability across the organization.

What I believe is needed is a shift in data consolidation, reporting, metrics and tools to support Global Market Access excellence and enable these teams to operate optimally. At Model N, we have developed a system that enables users worldwide to consolidate and share a product’s or an indication’s market access information in every country including milestone dates such as expected global value dossier submission, expected response/questions, as well as expected price conversation and launch dates.

LaunchCoordinationTracker

It consolidates to a calendar in which all relevant stakeholders across the global organization – from affiliate government affairs to the Global VP of Market Access – can view the latest status of how dates stack up across countries, how actual achievements to date compare to expectations, and can identify and mitigate delay risks. Having visibility of this timeline across countries is very useful and we’ve seen a great deal of excitement around this. But this is just a starting point, and Model N is gearing up to provide more value to Global Market Access teams with these two main objectives:

• Consolidate market access information consistently (same definitions for all) and establish business governance and monitoring processes in order to streamline/optimize access timelines, identify opportunities and mitigate risk, prioritize and/or anticipate resourcing.

• Increase account rep effectiveness, by sharing knowledge and best practices: Today, everything is silo’d and there is very little cross-country knowledge sharing in terms of material, methodology, message and innovative strategies.

In my opinion the top capabilities that such a solution should help facilitate are:

• Information management and reporting that allows for true global brand-level market access planning, process and performance, including segmentation at the country or state or even account-level, if necessary, to ensure information is available at the relevant level of granularity

• Dynamic collaboration and process management that alerts teams of important changes, expedites proactive response, runs data verification workflows regularly to ensure accuracy and timeliness of data

• Analytics and reporting including KPI measurement that captures the relevant data and establishes consistent, measurable metrics (e.g. number of patients covered, level of access, delta vs. analog products, number of days price approval vs. industry benchmark)

• Visibility and dashboards for better communication across borders concerning delay risks and delta between expected and actual performance

I’m interested in what you think. What other capabilities would you want to see in a solution for Global Market Access teams?

Model N Provides Business Update and Preliminary Fiscal 2014 Guidance

Industry stakeholders convene in Chicago to discuss and plan for 2014 MDRP best practices, challenges, and opportunities. REDWOOD CITY, CA – September 9, 2013 – Model N, Inc. (NYSE: MODN), a [...]

Industry stakeholders convene in Chicago to discuss and plan for 2014 MDRP best practices, challenges, and opportunities.

REDWOOD CITY, CA – September 9, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today provided a business update and preliminary guidance for the first quarter and full year fiscal 2014.

“Our current revenue visibility has caused us to reduce our financial expectations for fiscal 2014,” said Zack Rinat, Model N’s Founder, Chairman, and Chief Executive Officer. “We remain focused on recruiting a new sales leader to resolve the sales execution challenges we discussed on last quarter’s earnings conference call. We continue to believe that our market leading products, large market opportunity, proven value proposition, and strong pipeline of opportunities position the company well for the long-term.”

As of September 9, 2013, Model N is providing the following guidance:

  • For the first quarter of fiscal 2014 ending December 31, 2013, the Company expects:
    – Total revenue to be in the range of $20.0 million to $21.0 million
  • For the full fiscal year ending September 30, 2014, the Company expects:- Total revenue to be in the range of $70.0 million to $80.0 million
Business Update Conference Call:

Model N will host a conference call today at 2:00 PM Pacific Time (5:00 PM Eastern Time) to review this preliminary guidance for both the first fiscal quarter and the full fiscal year 2014. To access the call, please dial (877) 705-6003 in the U.S. or (201) 493-6725 internationally. Passcode is 10000248. A live webcast of the conference will be accessible from Model N’s website at: http://investor.modeln.com. Following the completion of the call through 11:59 p.m. ET on September 16, 2013, a recording will be available for replay at:http://investor.modeln.com and a telephone replay will be available by dialing (877) 870-5176 in the U.S. or (858) 384-5517 internationally with recording access code 10000248.

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.