Model N and GHX Collaborate to Reduce Operational Inefficiencies in the MedTech Industry
Redwood City, CA and Louisville, CO, October 30th, 2017 – Model N, Inc. (NYSE: MODN), the leading provider of cloud-based revenue management solutions to life sciences, technology and manufacturing companies, today announced it has teamed up with Global Healthcare Exchange, LLC (GHX), a leader in cloud-based healthcare supply chain solutions, to improve efficiencies in the supply chain for healthcare suppliers.
The Model N and GHX technology collaboration includes working together so that the companies’ solutions adhere to Health Industry Distributors Association (HIDA) industry standards. Customers using either GHX or Model N’s Revenue Cloud for MedTech can easily incorporate standardized transactions between systems.
Through the Model N and GHX relationship, the best practices set by HIDA are prioritized to help ensure compliance across the supply chain. Managing the discrepancies that occur through a lack of data or set standards are therefore alleviated, reducing the amount of valuable time spent on fixing errors while helping end customers receive the right price the first time.
“We are pleased to be working with the team at Model N to make it easier for healthcare suppliers to serve their hospital and provider customers,” said Peter Nelson, vice president of product management, GHX. “Data accuracy is a top priority at GHX and we consistently work to advance the incorporation of industry standards when they are beneficial to our customers and to achieving our mission of driving efficiency in healthcare.”
Model N customers especially benefit from this collaboration by experiencing the value of staying current through its innovative Revenue Management as a Service (RMaaS) delivery model.
“We are extremely pleased to be working closely with GHX to address long-standing pain points in the healthcare supply chain,” said Nate Taninecz, vice president of product marketing life sciences at Model N. “These efforts ensure our customers reduce their time-to-value and increase efficiencies with our Revenue Cloud for MedTech products.”
Global Healthcare Exchange, LLC (GHX) drives costs out of healthcare with cloud-based supply chain management technology and services to help enable better patient care and savings by maximizing automation, efficiency, and accuracy of business processes. GHX offers healthcare providers and suppliers an open and neutral electronic trading exchange that deliver procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, payment management and other supply chain-related tools and services. For more information, visit www.ghx.com and The Healthcare Hub.
About Model N
Model N is the leader in Revenue Management solutions. Driving mission critical business processes such as configure, price and quote (CPQ), contract and rebate management, business intelligence, and regulatory compliance, Model N solutions transform the revenue lifecycle from a series of disjointed operations into a strategic end-to-end process. With deep industry expertise, Model N supports the complex business needs of the world’s leading brands in life sciences, technology and manufacturing across more than 100 countries, including Johnson & Johnson, AstraZeneca, Boston Scientific, Novartis, Microchip Technology and ON Semiconductor. For more information, visit www.modeln.com. Model N is a 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.