Model N, Inc.

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Description

Revenue Management is a strategic cross-organizational business process aligning pricing, contract management, and financial settlements to enable companies to minimize the risk of regulatory non-compliance and eliminate revenue leakage. An emerging enterprise applications category, Revenue Management works seamlessly with legacy ERP systems to complete the order-to-cash cycle and provides the built-in controls, reports, and fixed audit trail to track and enforce compliance with Sarbanes-Oxley and other government regulatory programs.Life science companies leave millions of dollars on the table every year because they lack the tools necessary to minimize the risks of regulatory non-compliance and lost revenue in an increasingly competitive and regulated industry. Surveys conducted by Computer Sciences Corporation (CSC) in 2003 and 2004 revealed a combination of factors behind the revenue leakage costing life science companies at least $40M in lost revenue for every $1B in sales. In addition, companies in the life sciences are subject to Federal Supply Schedule (FSS) government best price compliance rules as well as to the newer Sarbanes-Oxley requirements; in the past few years increased scrutiny by regulatory agencies has cost this industry over $2.2 billion in government fines.Model N provides a suite of Revenue Management applications to align the business processes of pricing strategy and execution, contract development and management, contract performance compliance, and payment of trade settlements, such as rebates, chargebacks, and fees. The suite shares a common platform that links the processes, people, and information involved in the entire revenue life cycle. In addition, to address specific life sciences regulatory exposures, Model N offers government pricing and Medicaid claims processing applications as part of the suite. By aligning revenue transactions with Medicaid and other government drug-pricing policies as well as with government best-price reporting requirements, the Model N regulatory applications eliminate the financial and brand name exposure of huge government fines.

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