Leah Allen, Vice President of Marketing
Recognizing the revenue execution crisis that plagues the pharma industry, Model N set out to provide a first-to-market, pharma-specific, end-to-end SaaS Commercial System of Record, focused on solving the revenue execution needs of its customers. Founded in 1999, Model N has grown to become one of the leading providers of revenue management solutions in the life sciences industry. The company debuted its SaaS offering back in 2014, and since then it has also developed several solutions under the revenue cloud family, allowing customers to manage each step within the commercialization process and transform their revenue lifecycle from a series of disjointed activities into an end-to-end strategic process.
To achieve this, Model N identified the most significant pain points for its customers in their revenue execution and then developed a family of products to meet these needs. The company provides solutions for three key phases of the commercialization process: Revenue strategy (including management of pricing and tendering); revenue execution (including management of deals, providers, and payers); and revenue compliance (ensuring regulatory compliance with government pricing and Medicaid). By bringing an end-to-end approach and covering all of the points within the process, these products have helped many industry players to maximize their revenue while maintaining compliance with regulatory standards.
For instance, one multinational company in the pharmaceutical industry was able to process 40 million chargeback lines per year with a team of three people. Meanwhile, one of the largest pharma companies in the world avoided a $125M revenue leakage over three years from Medicaid claims processing. And another biopharmaceutical business validated six years of legacy Medicaid claims in one day—eliminating overall risk.