Life sciences and high-tech manufacturers count on Model N to support their complex commercial operations and regulatory requirements. But most importantly, our customers rely on us to deliver solutions that quickly adapt and proactively support changes that impact their business. It’s our mission to ensure our customers achieve their strategic objectives through revenue and compliance optimization and we’re excited to share a few of the innovations available in our latest release.
Here’s what is part of the Fall 2023 release:
- Innovative tools to support regulatory readiness
- Improved access to critical data
- Elevated user experience
For life sciences companies
U.S. and international regulations continue to evolve, posing compliance challenges that can threaten pharmaceutical revenues and create operational bottlenecks. To help our customers effectively navigate this ever-changing environment, we’re releasing solutions that will help them mitigate risk, save time, and reduce revenue loss; all while optimizing the user experience.
- Country rules-as-a-service: Customers leveraging Model N’s Global Pricing Management product can add country rules-as-a-service to effectively manage their international pricing strategies. This new offering automatically and periodically loads country reference rules data from a third-party provider into their application. Customers can leverage this information to generate reference prices and launch sequencing and perform “what-if” analysis to enhance their global business.
- Support for inflation rebates and drug price negotiations: To help customers adapt and adhere to the latest requirements from the Centers for Medicare & Medicaid Services, we added Inflation Reduction Act (IRA)-specific master data attributes to our product master data as a first step in what will be a series of updates to our regulatory products. The first 10 products selected for negotiation under the IRA directly impact many of our customers, and this update sets them up for success with regulatory compliance and Medicare price negotiation.
- Validata user experience evolution: Users of our industry-leading prescription validation application can look forward to a more modern, intuitive Validata experience. Along with improved workflows and screens, updates will include additional methods to reduce revenue leakage and provide more robust analytical capabilities. Bottom-line, Model N is enabling manufacturers to achieve more with greater efficiencies.
For high-tech companies
In the high-tech industry, channel partners represent a significant source of revenue. However, without the real-time channel performance data visibility across the entire ecosystem, high-tech manufacturers can miss out on revenue opportunities. Our fall 2023 release gives high-tech manufacturers and their distributors, system integrators, value-added resellers, and service providers much needed access to business-critical information to drive collaboration and build trust.
- A single source of truth for channel data: Channel Collaboration is a new portal for manufacturers and their channel partners, available in Model N Channel Data Management. Channel partners can easily access, upload, edit, report, and get alerts on real-time data — enhancing collaboration, decision-making, trust, and revenue opportunities across the entire ecosystem. Channel Collaboration enhances operational excellence and streamlines collaboration across the channel ecosystem.
- Revamped rebates calculation engine: As the channel ecosystem grows, so does the volume of channel data. More data often means slower processing times, which in turn slows down rebate and incentive payments. The fall release introduces modern data storage within our Rebate Management solution for guaranteed data integrity and reliability. Built-in safeguards prevent data inconsistencies. With scalable performance powered by Model N Datahub service, we estimate that manufacturers can expect a 15 to 30% average increase in data volume processing speed.
Powering life sciences and high-tech innovators
The new features, functionality, and offerings included in the fall release were a direct result of customer feedback and our deep understanding of the life sciences and high-tech industries. We are committed to helping our customers continuously improve their operational and business processes, so they can protect their revenue and remain focused on innovation.
Model N customers can see a complete list of all new products, add-ons, and features available to them in the release notes.
