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21 April 2022
A global pharmaceutical company is seeking a holistic global price management solution to manage their internal prices as well as competitor price monitoring. Instead of using multiple platforms, the company wants to view and manage this information all in one place.
In addition, the company seeks support in tracking IRP rules globally to simulate impact for their products as needed.
The company approached GPI + Model N to lead the implementation of this solution, given their combined software, data, and expertise.
Geographical scope: 60+ countries
Approach
Model N provided their Global Price Management (GPM) software for the storage and management of global price data for all products.
This offers the client:
- IRP Simulation
- Price and sales forecasting
- Price controls
- Global launch excellence
GPI leveraged their seamless API integration, GPI Connect, to automatically stream relevant price and access data for all the company’s products and relevant competitors to Model N’s GPM:
- Price and reimbursement data
- Indication-level cost of treatment
- Global IRP rules matrix
Impact
Together, Model N and GPI provided a complete solution by which the client is able to:
- Have visibility into internal prices and competitor price trends in one platform
- Effectively track and respond to price change requests
- Proactively drive pricing policies by monitoring IRP impact with consistently updated IRP rules
- Effectively compare competitors’ cost of treatment down to the indication-level
- Create realistic launch sequences with accurate price data, volume forecasts, and optimization algorithms
- Internal to external price validation with a view to compare internal and publicly listed prices
GPI and Model N’s partnership proved to be a success, acting together as an extension of the company’s team.
Model N and GPI Partnership
Model N and Global Price Innovations partnership delivers scalable technology and services that enable data-powered insights, achieving measurable impact on global customer pricing and market access decision-making.
The collaboration between Model N and Global Pricing Innovations combines the Model N Revenue Cloud for Life Sciences with Global Price Innovations’ data and consulting services, delivering value in the form of global pricing strategies that provide measurable revenue benefits for companies across life sciences.
Customers will leverage Model N’s industry-leading capabilities in global price management and international reference pricing, combined with Global Pricing Innovations’ pricing data and analytics.