New Release of Model N Global Price Management Helps Drive Even Better Price Execution, Collaboration, and Governance
SaaS solution now includes new tracking and mapping features, deeper customization, and enhanced visibility to manage complex pricing mechanisms
REDWOOD SHORES, CA – December 12, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced updates to its global price management offering for life sciences manufacturers. Model N Global Price Management, is an enterprise-grade SaaS solution that helps pharmaceutical and biopharmaceutical companies that sell into multiple countries maximize pharmaceutical prices, and reduce margin erosion. The latest version provides users with an updated launch tracker feature for capturing and tracking launch-related dates, price level mapping to keep track of price levels across all countries, and new settings for deeper levels of approvers and more customized data visibility.
“Model N Global Price Management is a true SaaS solution, giving us the flexibility to deliver new features as they are requested by our customers,” said Arnaud Grunwald, strategic market initiative executive for global pricing and market access at Model N. “The features that are now available to our customers provide an even deeper level of detail and customization to help pharmaceutical companies reduce the cost of delivering healthcare to patients by controlling product pricing at a global level.”
Key product enhancements include:
- Launch Tracker: Gives global market access and pricing teams the ability to collaboratively capture launch-related dates (such as market authorization date, price submission date, price publication date, reimbursement submission date, reimbursement approval date), as well as launch prices. The information is consolidated into easy-to-use reports and made available for launch bench-marking.
- Price Level Mapping: Allows users to map all price levels across all countries in order to create accurate cross-country reports and effectively compare similar price levels across countries, allowing users to better understand how different countries might refer to the same price level while producing a more holistic view of prices from country-to-country.
- Increased Approval Levels and Data Visibility: Managers can now set up to 10 levels of approvers and up to five users in each level in the price change request process. The new release also gives users the ability to set a user’s data visibility based on product family, giving them access to data for the countries and product families they are assigned to. This significantly simplifies the look and feel of the application while protecting confidential data.
Model N Global Price Management
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.
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.