Octapharma Selects Model N Revenue Cloud for Life Sciences

Rhea-AI Summary

Model N (NYSE: MODN) announced that Octapharma USA has adopted its Revenue Management Cloud for Life Sciences, enhancing revenue processes amid the COVID-19 pandemic. Octapharma aims to improve accuracy and efficiency in its revenue management, anticipating cost savings and increased revenue. The selection reflects a broader industry trend among life sciences firms facing revenue leakage and pricing complexities. Model N's solutions are designed for scalability and cost-effectiveness, providing critical support for companies seeking to maximize revenue potential.

Positive

• Octapharma USA selected Model N's Revenue Management Cloud, indicating demand for cloud solutions in the life sciences sector.
• The partnership is expected to enhance revenue accuracy and operational efficiency for Octapharma.
• Model N's platform aims to provide significant cost savings and increased revenues over time.

Negative

• None.

Model N, Inc. (NYSE: MODN), the leader in cloud revenue management solutions, today announced that specialty manufacturer Octapharma USA, Inc. has selected the Model N Revenue Management Cloud for Life Sciences, including Model N’s Provider Management and Provider Intelligence applications, as its revenue management system of record. Working diligently to combat the worldwide COVID-19 pandemic through the development of plasma derived blood product therapies, fast-growing Octapharma USA will leverage the Model N solution as part of an overall reengineering of its legacy, manually-based revenue management processes.

Octapharma USA’s parent company, Octapharma AG, is headquartered in Lachen, Switzerland, and is the largest privately-owned and independent plasma fractionator in the world. Octapharma creates medicines from high-quality human proteins sourced from human plasma and human cell lines, focusing on hematology, immunotherapy and critical care therapeutic areas. The company will use the Model N platform to achieve greater accuracy, create new efficiencies, and scale in support of Octapharma’s overall growth.

“We are excited about the potential of the Model N solution as part of our business initiatives around capturing any potential lost revenue, particularly as it relates to working with our distributor partners,” said Louis DiCriscio, senior vice president of finance and operations for Octapharma USA. “We anticipate that Model N’s cloud-based revenue management tools will help make our gross-to-net revenue processes faster and more precise, which will result in both cost savings and increased revenues over the long term.”

Octapharma’s selection of the Model N solution is typical of the growing need for solutions like Revenue Cloud for enterprise manufacturers in the life sciences, pharma and medtech markets. Numerous companies face the same challenges in this segmentation of the market – including the need to drive topline revenue, reduce revenue leakage, manage complicated pricing and reimbursement schemes, and ensure regulatory compliance – and the scalable, cloud-based Model N solution offers a range of powerful capabilities at a reasonable cost.

“We’re gratified that Octapharma has recognized the Model N solution for its power and flexibility, as well as its suitability in terms of price and performance,” said Melonie Warfel, vice president and general manager, life sciences for Model N. “We are focused on delivering ROI for our customers, no matter their size or scale, and the capabilities that Model N brings to companies of all sizes are designed and built to help them achieve critical business objectives.”

About Octapharma

Globally headquartered in Lachen, Switzerland and with US headquarters in Paramus, NJ, Octapharma is one of the largest human protein manufacturers in the world, developing and producing human proteins from human plasma and human cell lines. Octapharma employs more than 10,000 people worldwide to support the treatment of patients in 118 countries with products across three therapeutic areas: Hematology, Immunotherapy and Critical Care. Octapharma has seven R&D sites and six state-of-the-art manufacturing facilities in Austria, France, Germany, Mexico, and Sweden. In addition, Octapharma operates more than 150 plasma donation centers across Europe and the US.

About Model N

Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutions purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology. For more information, visit { "@context": "https://schema.org", "@type": "FAQPage", "name": "Octapharma Selects Model N Revenue Cloud for Life Sciences FAQs", "mainEntity": [ { "@type": "Question", "name": "What is Octapharma USA's partnership with Model N about?", "acceptedAnswer": { "@type": "Answer", "text": "Octapharma USA has chosen Model N's Revenue Management Cloud for Life Sciences to improve its revenue management processes." } }, { "@type": "Question", "name": "How will Model N's solution benefit Octapharma USA?", "acceptedAnswer": { "@type": "Answer", "text": "The Model N solution is expected to enhance accuracy and efficiency in revenue management, leading to potential cost savings and increased revenues." } }, { "@type": "Question", "name": "What are Model N's key offerings for the life sciences sector?", "acceptedAnswer": { "@type": "Answer", "text": "Model N provides cloud-based revenue management tools designed to drive topline revenue, reduce leakage, and manage complex pricing and reimbursement." } }, { "@type": "Question", "name": "What market challenges are addressed by Model N's solutions?", "acceptedAnswer": { "@type": "Answer", "text": "Model N's solutions address revenue leakage, pricing complexities, and regulatory compliance issues faced by life sciences companies." } }, { "@type": "Question", "name": "What is the significance of the partnership for Model N?", "acceptedAnswer": { "@type": "Answer", "text": "This partnership underscores Model N's relevance in the life sciences market, demonstrating its capability to address the needs of enterprise manufacturers." } } ] }

FAQ

What is Octapharma USA's partnership with Model N about?

Octapharma USA has chosen Model N's Revenue Management Cloud for Life Sciences to improve its revenue management processes.

How will Model N's solution benefit Octapharma USA?

The Model N solution is expected to enhance accuracy and efficiency in revenue management, leading to potential cost savings and increased revenues.

What are Model N's key offerings for the life sciences sector?

Model N provides cloud-based revenue management tools designed to drive topline revenue, reduce leakage, and manage complex pricing and reimbursement.

What market challenges are addressed by Model N's solutions?

Model N's solutions address revenue leakage, pricing complexities, and regulatory compliance issues faced by life sciences companies.

What is the significance of the partnership for Model N?

This partnership underscores Model N's relevance in the life sciences market, demonstrating its capability to address the needs of enterprise manufacturers.