Revenue Management Leader Helps Life Sciences Companies Operationalize Price Transparency Processes and Adapt to New Market-Driven Demands
Model N, Inc. a leader in cloud revenue management, announced the general availability of its new SaaS solution for pharmaceutical and biotech companies, designed to meet the fast-growing demands for state price transparency mandates. With the increasing number of states requiring transparency reporting, the importance of a solution to help companies meet their corporate compliance goals is also increasing.
State Price Transparency Management
With this new solution, Model N will deliver State Price Transparency Management (SPTM), the first SaaS solution built specifically to assist pharmaceutical and biotech firms in operationalizing the complete end-to-end process for meeting evolving state mandates.
SPTM capabilities will ensure that Model N customers can meet state-by-state price transparency requirements, managing compliance by automating key steps in the process while simultaneously facilitating complete traceability and standardization.
SPTM Key Features and Highlights:
· Legislation and report template repositories that enable users to configure and store the latest legislative rules and report formats
· A scheduled reports calendar that integrates governance capabilities and ensures that Model N Revenue Cloud generates transparency reports for each state
· A “what-if” functionality for analysis that helps companies determine the potential impacts of price changes and product launches on transparency reports on a state basis.
According to Suresh Kannan, Chief Product Officer at Model N, meeting the demands of new state price transparency laws is integral to helping life sciences customers thrive in a fast-changing market. “Model N is committed to delivering industry-leading technology for life sciences and high-tech companies. The new SPTM SaaS solution that we’re delivering is designed to help our customers efficiently adapt and thrive in a world of complex state regulations and evolving market dynamics.”
Model N enables life sciences and high-tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise, solutions and business services purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high-tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom, and Microchip Technology.