Model N has launched new generative AI (GenAI) and expanded data capabilities to strengthen its Channel Data Management, Formulary Compliance, and Provider Management solutions. The enhancements aim to improve revenue optimisation and compliance for life sciences and high-tech companies.
“The opportunity to harness the power of GenAI and intelligent data to help our customers drive revenue growth, strengthen compliance, and achieve market success couldn’t be greater. Leveraging our talented product engineering team in India allows us the flexibility and speed to innovate with AI, as we enable our customers to deliver life-changing products,” said Biju Davis, Senior Vice President, Engineering, Model N.
GenAI for Channel Data Management
Model N’s new GenAI Catalog Discovery, part of its Channel Data Management solution, supports high-tech companies in managing revenue from indirect sources. This feature automates point-of-sale (POS) data processing, converting unstructured product descriptions into actionable data in any language. High-tech manufacturers can use this data to optimise product bundles and increase channel sales.
The company has also launched a web-scraping component for Catalog Discovery. This feature automates the collection of e-commerce channel data, eliminating manual data gathering while enriching product catalogues for better market insights.
Expanded Formulary Compliance Capabilities
Model N’s Formulary Compliance solution now includes access to a comprehensive database covering 120 million patients, representing 75 per cent of all covered lives in the United States. This allows pharmaceutical companies to identify compliance trends and support negotiations with certainty.
The expanded data sets enhance Model N’s ability to address non-compliance, combining revenue management with data intelligence to meet market challenges in life sciences.
Enhancements to Provider Management for Global Expansion
Model N has upgraded its Provider Management solution to support global compliance and revenue optimisation. Covering 90 per cent of global geographies, the solution now provides unified processes on a single platform. This includes language translations, date and currency formatting, and optimised user interfaces for worldwide deployment.
The enhancement is particularly significant for pharmaceutical manufacturers managing rebates and compliance across international markets, enabling standardisation and adherence to regulatory reporting standards.
“Our focus on GenAI, intelligent data, and automation strengthens Model N’s partnership with leading life sciences and high-tech brands around the world. Our product engineering team in India is a key driver of our success to deliver cutting-edge solutions that create long-term business value for our customers,” said Biju Davis, Senior Vice President, Engineering, Model N.