The 2007 Model N Revenue Management Summit was a stellar success, specifically due to the tremendous participation of our customers, partners and industry experts, including representatives from the regulatory agencies
Redwood Shores, CA (PRWEB) April 4, 2007
Model N Inc., the leader in revenue management solutions for life sciences, today announced that three leading pharmaceutical customers are deploying the new Model N Managed Care application. Part of the industry's most comprehensive suite of applications for Revenue Management, Model N Managed Care is the industry's only solution for managing commercial managed care and Medicare Part D rebate programs that is architected from the ground up on an integrated platform with a complete suite of applications that manage the full spectrum of pharmaceutical manufacturers' institutional and government books of business. The production deployments of the Model N Managed Care application with Astellas Pharma US, Inc., the U.S. affiliate of the top 20 pharmaceutical manufacturer Astellas Pharma Inc., Biotech leader Gilead Sciences, and leading independent specialty pharma manufacturer Medicis validate the tremendous momentum the Model N Revenue Management Suite is receiving in the market.
"Model N's integrated approach to Revenue Management is well aligned with Gilead's strategic long term growth plans and is critical to our compliance infrastructure," said Larry Cuzzort, Vice President, Information Technology at Gilead Sciences, Inc. "Our success with implementing Model N Government Pricing and Medicaid gave us the confidence to accelerate the building of a complete infrastructure for end-to-end Revenue Management including Model N Contracts and Chargebacks. The deployment of the Model N Managed Care solution is a key building block for enhancing our growing managed markets business, while ensuring that we have a comprehensive approach to managing performance to revenue plans and regulatory compliance objectives across our entire business."
Model N Managed Care: The First Integrated Industry Solution for Managed Care and Medicare Part D
The Managed Care application, which was showcased at the 2007 Revenue Management Summit, includes unparalleled capabilities for Managed Care and Medicare Part D rebate management and is integrated with the comprehensive Model N Revenue Management Suite that aligns both commercial and government contracting business processes. The application provides powerful capabilities in setting up and maintaining contract deal structures and eligibility, managing the contract lifecycle, processing customer claims data, validating utilization submission, calculating and settling rebates, managing adjustments and resubmissions, maintaining foundation data, and enforcing workflow, approval, and business controls. The user interface models the industry best practices for managing managed care and Medicare Part D contract and processing claims, and guides the user through a step-by-step business process while providing the flexibility and capability to handle unique rebate structures as required.
In addition, new enhancements in the latest release of the Revenue Management suite were also revealed at the 2007 Revenue Management Summit. These enhancements continue to illustrate how Model N is providing the industry with breakthrough capabilities for managing commercial and government pricing requirements spanning the contracts, settlements and reporting processes in a truly integrated fashion. The enhancements included powerful analysis and dashboard capabilities that increase visibility and improve ease of use for the business community, and powerful new centralized, enterprise management capabilities including application configuration, management of server resources and extensive administration capabilities for IT, technical support and implementation teams to improve operations in the growing enterprise -wide deployments of Model N applications.
2007 Revenue Management Summit Record Attendance
In its third year as the industry's predominant event centering on Revenue Management, the 2007 Model N Revenue Management Summit showcased the theme Realizing Value, Extending Impact, in recognition of the customers and partners that are realizing the impacts of their investments in Revenue Management while setting new directions for their business with Revenue Management. The growing importance of this event was shown in the 329% increase of total number of customer companies this year over last year's event, which included 7 of the top 10 pharmaceutical manufacturers worldwide.
"The 2007 Model N Revenue Management Summit was a stellar success, specifically due to the tremendous participation of our customers, partners and industry experts, including representatives from the regulatory agencies," said Sujay Jadhav, Life Science General Manager at Model N. "The Summit provided substantial validation of the significant momentum and adoption that Revenue Management is seeing across our industry. Revenue Management has emerged as core to the strategic initiatives of the industry's leading companies as they address the evolving challenges of the life sciences business, mitigating regulatory compliance exposure while minimizing the revenue leakage that costs life sciences companies millions of dollars every year."
Of particular note at the summit was the industry keynote address by Regional Director Jeff Flick from CMS (Center for Medicaid & Medicare Services), who discussed the critical issues shaping the healthcare industry today. In addition, a moderated panel of pharmaceutical, biotech and medical tech executives and industry experts from Johnson and Johnson, Inc., Boston Scientific, Axcan Pharma, Gilead Sciences, CMS and SET Enterprises was another highlight. The three day event featured business and technical tracks led by industry thought leaders from the Model N customer base and presented a variety of topics, including real-time integration with SAP, the continuing effect of the DRA on the industry, techniques for maximizing configuration tools within Model N government pricing to rapidly adapt to regulatory changes, using the new Model N analytics solutions, and other new product highlights. In addition to roundtable and interactive discussions by Accenture and Envision, and participation by CSC, High Point, Business Edge, Kanbay and Levementum, the conference featured several sessions and customer advisory meetings dedicated to pricing and revenue analytics, managed care and Medicare Part D solutions, regulatory business intelligence, commercial contracting and settlements, and the Model N future technology roadmap.
About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for pricing, contracts, compliance, rebates, fees, and chargebacks optimized for the industry practices of life sciences companies, with the only integrated government pricing and Medicaid claims processing capabilities in the industry. Enabling the creation of a seamless, end-to-end process from pricing through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government pricing and Sarbanes-Oxley regulations. Customers include Astellas Pharma US, Inc.; Axcan Pharma; Boston Scientific; Bristol-Myers Squibb; Gilead Sciences; MedImmune, Inc.; Medtronic, Inc.; Novo Nordisk, Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information visit http://www.modeln.com
Model N, Inc.
Tel: 650 610-4773
Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
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