Annual Global Pricing Survey Report Reveals Industry Needs
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Model N, yearly Global benchmarking survey on Gloval Price Management practices and techonogy. Indicative of current trends and challenges for Market Access teams to manage global pricing and the technology available to ensure optimum pricing and margins.
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Annual Global Pricing Survey Report Reveals Industry Needs
- 1. 2013 Annual Survey – Global Pricing in Life Sciences Industry Benchmark Report ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 2. First Annual Global Pricing Survey EXECUTIVE SUMMARY • In general Global Pricing teams are able to work with the governance and processes they have in place, however there are significant areas of improvement when it comes to operationalizing these processes • Companies are equipped with systems and tools allowing “blocking and tackling” activities of Global Pricing, but are underequipped when it comes to collaborating well and making fast data-driven decisions based on advanced analytics • Many respondents report a lack of automation, ease-of-use, maintainability – Legacy home-grown applications are common place, and more than 1/3 of companies use Excel for Data Management, Reporting and Analytics • More than 50% of the companies plan to invest in order to fix systems that hamper good decision-making 2 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 3. First Annual Global Pricing Survey To Understand How to Best Fulfill Industry Needs 44 global respondents Survey Objectives Russia • Better understand industry needs and priorities • Continuously improve software and services • Share a benchmark with the pricing community Denmark 7 Italy Belgium 6 10 France Switzerland Germany 12 United Kingdom United States 3 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 4. First Annual Global Pricing Survey Demographics Match Desired Industry Representation 35 individual companies represented Alcon Alexion Amgen AstraZeneca Basilea Biogen Idec BioMarin BMS Boehringer Ingelheim Covidien Eisai Eli Lilly Ferring Grunenthal GSK Double Helix Kamedis Conseils 4 Institute Straumann InterMune LEO Pharma Medtronic Menarini Merck KGaA Merck Millipore Novartis Pfizer Regeneron Roche Sandoz The Medicines Company Threshold Pharma UCB Kantar Health Market Access Solutions PwC Respondent distribution (vendors excluded) <500M 500M - 1B Local affiliate 1B - 10B Region >10B Global HQ ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 5. Global Pricing Today 5 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 6. Top of mind Global Pricing challenges Team Bandwidth, Tenders, LoE are most experienced challenges Q: Among some of the Global Pricing challenges below, which 3 have you most experienced recently? 40% 20% Struggled with too many price change requests Lost price due to tenders coupled with IRP Lost too much price at loss of exclusivity Parallel trade as a result of wide price corridors Lost price due to lack of global collaboration Lost price due to inadequate launch sequence <500M Lost price due to lack of IRP anticipation 500M - 1B Inaccurate or late price reporting to MoHs 1B - 10B >10B Lost price due to inaccurate/ out-of-date data 0 6 0.1 0.2 0.3 0.4 0.5 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 7. Industry Practices Today - GLOBAL PRICING REPOSITORY Gaps in the areas of Integration, Collaboration, Basic Reporting Q: How would you describe your current GLOBAL PRICING REPOSITORY across the below components and characteristics? Single global pricing database Fast access worldwide User-friendly and admin-friendly Enables notifications, approvals Easy reporting/ dashboards Audit trail Collaborative calendar of events Integrates all necessary data sources Have and satisfactory 7 Have but not satisfactory Do not have ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 8. Industry Practices Today - GLOBAL PRICING PROCESS & ORG. Domains with most satisfaction today Q: How would you describe your current GLOBAL PRICING PROCESS & ORGANIZATION across the below components and characteristics? Process OK, hence slide 5 suggests issues in price change process operations Governance Price change process Launch sequencing process Role-based user rights and responsibilities Data ownership & update process Have and satisfactory 8 Have but not satisfactory Do not have ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 9. Industry Practices Today - INTERNATIONAL REFERENCE PRICING Many gaps, especially in Scalability, Automation, Launch Sequence Q: How would you describe your current INTERNATIONAL REFERENCE PRICING tool across the below components and characteristics? Flexible and detailed reference rules Price change impact analytics Easy-to-use interface Easy scenario visualization/ comparison Launch sequencing optimization algorithm I/O integration with other systems Easy to add functions, pages, workflows Have and satisfactory 9 Have but not satisfactory Do not have ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 10. Industry Practices Today – Global Pricing System Landscape Industry still relies heavily on Excel! Less than 25% vendor systems Q: Which types of software solutions are in use in your organization in the following categories? Database of global prices Reference rules and price events Global collaboration and processes Reporting Scenario analytics & Optimization 0 10 10 20 30 40 50 60 70 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 11. Global Pricing Tomorrow 11 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 12. Areas for improvement High need for improvement esp. on collaboration and analytics Q: Overall, how important is it for your team/ organization to improve on the following… 3 2 4 1 Very important, current setup is inappropriate/ incomplete Important, current setup hampers making good decision Quite important, we have key areas of improvement Not too important, setup is fine most of the time Global Pricing Database 12 Pricing Historical Price Price Processes & Reporting Simulation and Collaboration Optimization Not important, current setup is what we need ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 13. Global Pricing Services Help needed to complement skill set, bandwidth and system Q: Which third party consulting services do you think your organization could need? Other IRP rules 'as a service': Initialization & recurring updates Product-specific strategies to best work with/around International Pricing rules Validation of accurate application of IRP rules in country affiliates Assess and design Global Pricing system and organization strategy International Reference Pricing (IRP) industry benchmarking IRP scenario analytics (price change, launch sequence, genericization, etc) 13 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 14. Take-Aways Investment needs to tie back to identified gaps and most value add • 40+% have areas for improvement hampering good business practice in Pricing Collaboration • 50+% have areas for improvement hampering good business practice in Price Simulation • Improving capabilities in ‘13/’14 is medium or high priority for 55% Investment areas in next 24 months Competitive price database Global pricing database Local/ global collaboration Reference rules management Reporting & dashboards Price events database Price & launch simulation Where will you invest in the next 24 months? Price change process 0% 20% 40% 60% 80%100% Yes 14 Considering No ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL | www.modeln.com/rainmaker ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 15. Contact Information: Arnaud Grunwald Senior Director Global Pricing Strategic Initiative arnaud@modeln.com + 1 650.610.4656 ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 16. Coming soon .. 2014 Annual Survey – Global Pricing in Life Sciences Industry Benchmark Report ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 17. How Model N solution helps COLLABORATION PRICE REQUESTS WHAT-IF PRICE SCENARIOS INTEGRATING DATA SOURCES SCALABILITY / FLEXIBILITY ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL
- 18. Thank you! Any question? . More Revenue Made Simple 18 . ©2013 Model N, Inc. PROPRIETARY & CONFIDENTIAL