Optimizing revenue management by moving away from operational silos and achieving full visibility and control in revenue management is the umbrella that covers every trend we touch in this Life Sciences journey. When the umbrella is wide open, and the revenue leakage is stopped, you begin to ascend the mountain to the peak of visibility in all your initiatives. As your silos come down and teams embrace multi-disciplinary centralization strategies you begin to experience a new level in how you operate and innovate. Suddenly the impact of rising costs, tighter innovation funding, proving therapies and product value, and complying with shifting regulatory mandates lessens as predictive strategies become evident and visible. 

The main component of effective revenue management is gaining accuracy and visibility in your GTN. Even with all the advances in analytics, it’s still one of the leading obstacles Life Sciences companies face today. With that function in place, it’s important to have full visibility to analyze your data. You also need quick access to pricing and contract details — it’s the negotiating power the sales team wants and needs to remain competitive in this industry. Market trends dictate the need to adopt to more flexible pricing strategies in response to the market pricing pressures.