Model N and Pfizer Innovate Drug Price Transparency Reporting
NEW ‘Transparency Talks’ With Pfizer and Global Pricing Innovations (GPI) Help Pharmaceutical Companies Stay Compliant With Drug Pricing
SAN MATEO, Calif.--(BUSINESS WIRE)--#LifeSciences--Model N, Inc. (NYSE: MODN), the leader in revenue optimization and compliance, today announced the launch of Transparency Talks, a new, three-part education series for pharmaceutical companies that tackles the topic of price transparency regulations for prescription drugs. Transparency Talks will bring together leaders from Model N, Pfizer and Global Pricing Innovations (GPI) to explore state drug pricing laws and regulations, as well as facilitate a discussion on trends, best practices and innovative approaches that help pharmaceutical companies meet regulatory compliance goals.
First-Ever SaaS Solution for State Price Transparency Mandates
Model N has pioneered a technology-driven approach to state price transparency regulations. Its new State Price Transparency Management (SPTM) solution for the Model N Revenue Cloud is the first-ever SaaS solution built specifically to assist pharmaceutical and biotech companies in operationalizing the complete, end-to-end process for meeting State Price Transparency mandates.
“Life sciences companies must find an effective way to prepare and respond to fast-moving changes in state price transparency regulations, and we are excited to deliver innovative solutions to help them avoid costly mistakes,” said Kyle Forcier, Senior Director of Life Sciences Product Marketing at Model N. “It’s been an honor to partner with Pfizer on State Price Transparency Management, creating an innovative solution that helps navigate the fluid state drug price reporting landscape.”
Pfizer and GPI on SPTM
The SPTM solution was developed with the collaboration of Pfizer, the world’s largest pharmaceutical company. “Our collaboration with Model N has delivered a tool that helps us better manage complex state reporting requirements,” said Laura Topal, Senior Director, Strategic Pricing, Pfizer. “We’re proud of what we have achieved together, and we’re excited about sharing our learnings with the larger pharma community.”
Rachel Jao, Head of Commercial Strategy from GPI, a market leader in innovative solutions for biopharma and market access, will also join Transparency Talks to share the latest in industry best practices. “More than 20 states have drug pricing transparency laws on the books today, and there can be severe financial consequences for non-compliance,” Jao said. “Transparency Talks from Model N is a valuable way for pharma business leaders to learn more about the current regulatory environment and to explore solutions that will help them address this significant challenge.”
Transparency Talks at a Glance
The goal of Transparency Talks is to provide pharmaceutical and biotech companies with a set of best practices and insights to manage the state price transparency process. The schedule of events is found below:
- August 16: “The Truth About Transparency: What’s Happening on the State Level?”
- August 30: “The Importance of Automating Treatment Data”
- September 13: “How Pfizer Conquered the Challenges of Transparency Reporting”
Learn more and register for this series.
About Model N
Model N is the leader in revenue optimization and compliance for pharmaceutical, medtech and high-tech innovators. Our intelligent platform powers your digital transformation with integrated technology, data, analytics, and expert services that deliver deep insight and control.
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 www.modeln.com.
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