“Change” was a pervasive theme at this year’s Rainmaker conference, hosted by Model N, a partner of Alliance Life Sciences, at the Westin Hotel in San Francisco, California. Model N seemed eager to show that it is evolving, much like the industry it services. The breakout sessions, chaired by Model N employees and representatives of pharmaceutical manufacturers, ranged from software demonstrations and panel discussions to traditional podium speakers.
The new developments exhibited by the company all carried a similar theme of being proactive. Rather than toe the line or change reactively, a concerted effort is being made to stay ahead of industry standards and forge new best practices. These advances include new customer relationship programs, “Revenue Management as a Service” offering, “Express” implementations, and a new customer relationship management (CRM) platform entitled, Revvy Sales.
Model N prominently displayed its transition into cloud revenue management. Both Adobe and Salesforce were present to share their experience with “Transformation to the Cloud,” providing insight into the tangible benefits. Their latest concept, CRM2, is the combination of CRM and cloud revenue management, although they warned that users should not “cloud themselves into a corner.” In other words, while “speed is the new currency,” such advances should not sacrifice efficiency for the sake of expediency. Clearly, innovation is critical to Model N’s business model, but remains tempered by the necessity to deliver quality service.
While robust in scope, the product offerings from Model N represented only about one-third of what was presented during the event. The balance of the presentations covered a large cross-section of the revenue management space in pharma: commercial transactions, contracting strategies, government pricing policies, gross-to-net analysis, master data management, forecasting, accruals, and global pricing – to name a few. Model N’s theme of “change” was represented across the other presentations, as well. With talks such as “Future of MedTech – Disruption and the Advent of Big Data” and “Cranking up the AMP Volume: A Diagnostic of the New Ruling,” there was a decidedly forward-thinking atmosphere, in terms of anticipating industry trends and hypothesizing solutions to the shifting environments.
It was fascinating to see industry thought leaders discuss the likelihood and practicality of healthcare moving from a Fee-For-Service (FFS) to a Fee-For-Outcomes model in “Life Sciences 2020.” “Maximizing Revenues and Optimizing Customer Experience with Customer Master Data” examined frequently overlooked ways of streamlining business efficiency by improving data cleanliness. Hearing about more precise indirect sales management in “Updates on 340B Eligibility,” and creative managed care rebate solutions in “Innovative Contracting Strategies,” provided keen insight into optimal commercial operations.
Perhaps the most engaging aspect of these discussions was the spirit of knowledge-sharing that made them possible. Through the collaboration of various industry stakeholders, the insights gleaned from the conference were both eclectic and comprehensive. If current expectations become reality, the revenue management space in pharma will undoubtedly face a number of interesting developments in the future.