SAN MATEO, Calif.– Model N, Inc. (NYSE: MODN), a leader in cloud revenue management, announced the general availability of its new SaaS solution for pharmaceutical and biotech companies, designed to meet the fast-growing demands for state price transparency mandates. With the increasing number of states requiring transparency reporting, the importance of a solution to help companies meet their corporate compliance goals is also increasing.
State Price Transparency Management
With this new solution, Model N will deliver State Price Transparency Management (SPTM), the first SaaS solution built specifically to assist pharmaceutical and biotech firms in operationalizing the complete end-to-end process for meeting evolving state mandates.
SPTM capabilities will ensure that Model N customers can meet state-by-state price transparency requirements, managing compliance by automating key steps in the process while simultaneously facilitating complete traceability and standardization.
SPTM Key Features and Highlights:
- Legislation and report template repositories that enable users to configure and store the latest legislative rules and report formats
- A scheduled reports calendar that integrates governance capabilities and ensures that Model N Revenue Cloud generates transparency reports for each state
- A “what-if” functionality for analysis that helps companies determine the potential impacts of price changes and product launches on transparency reports on a state basis
According to Suresh Kannan, Chief Product Officer at Model N, meeting the demands of new state price transparency laws is integral to helping life sciences customers thrive in a fast-changing market. “Model N is committed to delivering industry-leading technology for life sciences and high-tech companies. The new SPTM SaaS solution that we’re delivering is designed to help our customers efficiently adapt and thrive in a world of complex state regulations and evolving market dynamics.”
