2023 State of Revenue Report highlights staffing challenges for pharma companies

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The software company Model N (NYSE:MODN) has released its fifth annual State of Revenue report that found many pharma companies are grappling with staffing and economic challenges. In particular, 92% of pharmaceutical firms reported difficulties hiring qualified personnel.

A number of pharma companies are cutting staff this year.

Almost half, 47%, of pharma execs believed outsourcing was a permanent need for business operations and to address the staffing shortfall. In particular, nearly all pharmaceutical executives (99%) plan to use Business Process Outsourcing (BPO) to support their business. About two-thirds consider BPO to play a “substantial” or “significant” role. Another 31% expect BPO to have a “moderate” role.

Regulatory compliance concerns

In addition to staffing concerns, the survey also reflected that pharma compani…

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