Model N , the leader in revenue optimization and compliance, announced its Spring 2023 product release for life sciences and high-tech customers. This latest semi-annual release delivers new products and platform enhancements to help pharmaceutical, medical technology, and high-tech manufacturers further optimize revenue operations and strengthen compliance across the enterprise.
The following innovations are a few highlights of Model N’s Spring 2023 product release:
340B Vigilance Prevents Duplicate Discounts
Duplicate discounts are a significant challenge for today’s pharmaceutical manufacturers participating in the $44 billion federal 340B drug pricing program. Model N’s innovative 340B Vigilance solution remediates this issue for manufacturers by flagging and managing prescriptions to prevent duplicate discounts before rebate payment. 340B Vigilance is integrated with Model N’s Validata solution, the industry’s leading and most advanced script validation solution, and works seamlessly with Good Faith Inquiry (GFI) service providers to deliver a closed loop solution.
Global Tender Management Improves Supply Chain Visibility in Europe
Model N continues to invest in Europe as a strategic market to expand its comprehensive product portfolio across global pricing, launch sequencing, rebate management, and tendering. As tendering is more widely adopted globally within the Life Sciences industry, Model N’s new capability within Global Tender Management will ensure complete visibility into inventory commitments across the supply chain. This important enhancement will help life sciences companies maintain administrative compliance while mitigating the risk of over or under production.
Mass Price Change Increases Business Agility for High Tech
Enhancements in Mass Price Change help high-tech companies directly address inflation and supply chain disruptions. This new capability allows manufacturers to take quicker action in response to changes in market conditions and strategic priorities. By enabling companies to update prices in real-time for all deals and transactions, high-tech manufacturers can maximize revenue and meet customer demand more effectively.
“Given today’s changing global economy, we know how important it is for our customers to innovate and quickly deliver high-value products,” said Suresh Kannan, Chief Product Officer, Model N. “Model N’s market-driven Spring 2023 release introduces new products and enhancements that provide customers with technology solutions they need to adapt quickly, make strategic decisions, and grow their revenue stream, so they can continue innovating for their customers.”