Actelion Pharmaceuticals U.S., Inc. Selects Model N Medicaid Claims Processing To Better Manage Governmental Compliance
SOUTH SAN FRANCISCO, Calif., March 2 /PRNewswire/ -- Model N, Inc., the pioneer in Revenue Management solutions for Life Science, today announced that Actelion Pharmaceuticals U.S., Inc. , a biopharmaceutical company focused on the discovery, development and marketing of innovative drugs, and a leading player in innovative science related to the endothelium -- the single layer of cells separating every blood vessel from the blood stream -- has selected Model N's Medicaid Claims Processing application to better manage regulatory compliance risk. With Model N, Actelion will ensure Medicaid compliance by improving all aspects of Medicaid claims processing, enabling analysts to easily calculate prices, upload and validate claims, approve payments and generate reports in compliance with all Federal and State regulations and guidelines.
"Keeping up with the ever-changing Medicaid program requirements, in addition to the growing number of new State supplemental programs, has been a growing challenge," said Linda L. Schock, associate director, distribution and reimbursement, Actelion Pharmaceuticals U.S. "Our current system has presented significant challenges in accessing and reporting claims and payment information and we felt adopting a next generation solution was the best path to meeting our productivity and efficiency requirements. Model N not only has demonstrated a deep understanding of the current Medicaid issues, but its integrated suite of applications will provide us a with a revenue management platform that can accommodate our growth both in the commercial and government sector."
Actelion Pharmaceuticals U.S., Inc., whose parent company is headquartered in Allschwil/Basel, Switzerland, expects to gain the following benefits from its Model N solution:
-- Increased accuracy of payments through automated upfront validations
-- Reduced analyst workload and time to pay by automating the rebate settlement process
-- Ability to effectively manage adjustments and disputes over time
-- Automatic calculation of URA prices used in claims processing and improved visibility to calculation details
-- Automated price changes due to input changes and re-filing of BP and AMP
-- Ability to manage credit allocations across payments -- Adherence to program policies and allow flexibility to adapt to changes -- Automatic generation of standard ROSI and PQAS reports
-- Improved tracking of all inputs involved with the rebate process to comply with Sarbanes-Oxley and government audit requirements
"Government compliance is top of mind for successful, growing pharmaceutical companies such as Actelion, especially in the Medicaid and State Supplemental claims processing area," said Zack Rinat, founder and CEO of Model N. "More programs are being introduced by the states and manufacturers are required to manage increased data processing and analysis to ensure compliance. These programs are also becoming more complex and difficult to manage every year. Model N Medicaid Claims Processing has been designed and built to accommodate rapid legislative evolution, enabling growing manufacturers to adapt quickly to adhere to all the government program requirements while increasing the accuracy of rebate payments."
About Model N
Model N is the leader in Revenue Management, offering an integrated suite of applications for pricing, contracts, compliance, rebates, fees and chargebacks optimized for the industry practices of Life Science companies. Enabling the creation of a seamless, end-to-end process from pricing through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government pricing and Sarbanes-Oxley regulations. Model N customers include Ortho-Clinical Diagnostics, a Johnson & Johnson company; C.R. Bard, Inc.; Pfizer, Inc.; Medtronic. Inc. and Reliant Pharmaceuticals, Inc. Model N is located in South San Francisco, CA. For additional information, visit http://www.modeln.com/
NOTE: Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.Model N, Inc.
CONTACT: Laurie Gibson of B3 Communications, Inc., +1-650-969-0764, email@example.com, for Model N
Web site: http://www.modeln.com/