In today’s business environment, life sciences enterprises face a significant challenge: negotiating and securing favorable global contracts to meet projected revenue and profit targets. This challenge initiates a complex revenue transaction process involving multiple entities within the highly regulated life sciences industry. To ensure commercial success, enterprises must streamline revenue management across the system. This necessitates effective collaboration and visibility across multiple intermediary channels such as payers, providers, distributors, hospitals, pharmacies, and government entities.

As enterprises strive to streamline revenue management processes, they encounter a multitude of challenges, including a lack of understanding of the complex landscape, managing multiple stakeholders, navigating complex regulatory frameworks, the absence of domain experts, and limited budgets. Consequently, enterprises seek to outsource some or all functions of revenue management, depending on factors such as enterprise size, talent availability, product portfolio, and investment capacity.

In this viewpoint, we examine the benefits of outsourcing revenue management, study various outsourcing models that can be leveraged based on enterprise-specific needs, and outline a roadmap for successful revenue management outsourcing.

Scope

• Industry: life sciences
• Geography: global

Contents

In this report, we:

• Study the current state of revenue management outsourcing in the life sciences industry
• Evaluate the benefits of outsourcing revenue management processes
• Provide an overview of different outsourcing models and establish a business case for the Business Process Outsourcing (BPO) and Software-as-a-Service (SaaS) model
• Examine enterprise sourcing criteria for BPO
• Provide a roadmap for successfully outsourcing revenue management

Membership(s)

Life Sciences Information Technology