This Life Sciences revenue management eBook identifies the five ways Life Sciences companies should approach revenue management. These include strategic planning, accruals and gross-to-net, strategic analytics, contract authoring & collaboration, and managed care competency.
It would be safe to say that few industries have the tangled, idiosyncratic revenue challenges that face the Life Sciences ecosystem. To be fair, the Life Sciences category umbrellas three already complex industries—pharmaceutical, biotechnology, and medical technology. Add to this equation billbacks, chargebacks, complicated incentives, accrual management, intertwined revenue, tiered pricing, and utilization-, outcome-, and performance-based payment models. It’s easy to imagine a lengthy chalkboard populated with Einstein-worthy mathematical calculations.
To that end, this eBook is designed to identify and prioritize the top five capabilities any Life Sciences company needs to manage its revenue efficiently and accurately. These five capabilities are the
must-have essentials to do business profitably, in compliance, and in acting as a good financial steward to one’s constituencies.
- Strategic Planning – This plan identifies the measurable goals and the metrics to evaluate daily, weekly, monthly, quarterly, and yearly results.
- Accruals and Gross-to-Net – Without accruals and gross-to-net intelligence, it is impossible to know where the financials are trending.
- Strategic Analytics – For analytics to be useful and meaningful, they must be derived from real-time, real-world data.
- Contract Authoring & Collaboration – Once the outcomes are defined in a strategic plan, contract development will stem from there.
- Managed Care Competency – The managed market partners do not actually purchase the product, nor deliver the service, but they do determine which products can be used by the final customer.
Download the eBook and master these 5 must-have capabilities.