Revenue optimization and compliance leader delivers market-ready tools to support shifting priorities for life sciences and high-tech companies
Model N, Inc., the leader in revenue optimization and compliance, announced its Fall 2022 product release of the Model N Revenue Cloud. This latest semi-annual update focuses on bringing innovative revenue optimization and compliance solutions for life sciences and high-tech customers, informed by market shifts, customer feedback, and the continuous pursuit of marketplace excellence.
“Today’s life sciences and high-tech innovators are feeling the pressure of an ever-changing market economy to act quickly while maintaining compliance. To empower our customers to keep thriving and making business critical decisions, Model N’s newest product enhancements were built to power our customers’ innovation, profitability, and business growth,” said Suresh Kannan, Chief Product Officer, Model N.
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“To empower our customers to keep thriving and making business critical decisions, Model N’s newest product enhancements were built to power our customers’ innovation, profitability, and business growth,” said Suresh Kannan, Chief Product Officer, Model N.
Enhancing Profitability for Life Sciences
The latest life sciences enhancements will help pharmaceutical and medtech manufacturers achieve compliance and more quickly meet their strategic objectives. Model N’s customers will be able to better forecast the revenue and pricing impacts of a drug falling off patent, ensure they are able to receive and process the latest payer, prescriber, and government data standards, and more accurately calculate Medicaid rebates. Combined with the increased ability to control contract pricing communication with internal and external parties, companies can be confident the right products are delivered to the right providers at the right prices. Additionally, customers will have critical performance metrics at their fingertips—showcasing contracted sales and overall savings trends, chargebacks and rebates, and fee savings.
Proactive Market Response for High-Tech
An important benefit for high-tech companies is a 25% improvement in rebate calculation performance for high data volumes, delivering more scalability in an expanding partner ecosystem. Companies will also be able to more quickly execute price updates in current deals and apply new pricing to future deals – critical given the current economic outlook. Customers will have more flexibility in channel data automation, allowing them to manage and reconcile data independently. These enhancements are critical for customers needing to take quicker action to respond to market changes including inflation and fluidity in supply and demand.
“As data standards and market dynamics evolve, our customers expect more out of technology partners to help them stand out and power innovation,” said Karim Damji, SVP, Product Management, Model N. “Model N’s deep industry knowledge and market-proof technology equip customers with essential revenue optimization and compliance tools for today’s fluid market.”
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