Revenue Management

Pharmaceutical companies continue to feel the impact of major changes to government regulations, including healthcare reform.

Competing priorities in the federal contracting and price reporting arenas pose another challenge. This may leave you doing balancing acts with less room for error and fewer opportunities to gain a competitive advantage. Revenue Management is a way to facilitate compliance and better meet business goals through improved alignment of business strategies, processes and systems across your organization. 

What is Revenue Management?

Revenue Management leverages technology to integrate data from disparate systems (customer, contract, product, marketing, financial, reporting and analytical). Unification of data from these systems across all departments enables your company to better meet compliance mandates and serve business goals. Empowered with the full force of your data, Revenue Management is a complete, strategic solution to help manage every dollar impacting your top line.

Our Revenue Management solution has a Change Management component built into the implementation to address cultural aspects and workforce training. This supports maximum adoption of your organization’s Revenue Management Solution and allows us to deliver the most value.

Revenue Management can facilitate:

  • Implementation of pricing strategies
  • Greater visibility and control over pricing, contracting, deal execution and compliance
  • Tracking and alignment of discounts with product sales
  • Management of “best price” and other government-mandated terminology
  • Management of contract sales opportunities and channel relationships
  • More efficient use of sales resources, focusing on the best opportunities
  • Execution of timely, error-free trade incentive payments

Who Can Benefit from Revenue Management Solutions?

We are typically engaged by Life Sciences professionals who are responsible for commercial contracting or managed market access and who may be:

  • Accountable for managing contract operations and supporting compliance with federal and state requirements
  • Challenged to improve compliance profiles to reduce fines related to government pricing or commercial contracting
  • Trying to grow product market share and optimize market access
  • In need of better cross-systems market data for competitive analysis

How We Help with Your Revenue Management

We have industry experts who can help you make a well-thought-out business case for the benefits of Revenue Management solutions, including improved operational efficiency, enhanced compliance and data integrity.

Our Team Can Help You:

  • Design calculation methodologies to boost compliance and revenue goals
  • Adapt your platform to address current and future legislative demands
  • Engineer a Standard Operating Procedure that supports compliance
  • Mine and analyze data from all systems relevant to contract/revenue management for optimum results
  • Formulate price, product, customer and contracting strategies to maximize margins in the Revenue Management System
  • Leverage deep domain expertise to put advanced Business and Information Technology Solutions to their best use in the Life Sciences industry context
  • Apply Change Management expertise for successful implementation

We bring together deep domain expertise in Life Sciences, Project Management, Data Migration and Change Management to provide your company with the following benefits:

  • Greater resiliency to meet changing legislative landscape and commercial challenges
  • Improved operational efficiency
  • Reduced risk of non-compliance
  • Greater data integrity
  • Recaptured revenue leakage and improved market share
  • ROI of Revenue Management Solution realized more quickly through our proven implementation methodology
  • Reduced sales and operations costs for greater savings
  • Higher rate of user adoption due to Change Management expertise guiding implementation
  • Improved organizational value from higher rate of user adoption
Need Help Finding the Right Solution?

Request a free consultation with one of Paragon's leading industry advisors to discuss the best solution for your organization's unique challenges and goals.

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