Hospital / Physician Pricing Strategies - Cost Benchmark Solutions
Establish your hospital pricing strategy by benchmarking your hospital's charges against market competition by city, state, or across the US. Get instant access to pricing data so you can make informed decisions on your hospital's pricing strategy and increase price transparency.
Learn more about setting a pricing strategy today!
How do your hospital’s charges compare? As the Healthcare Industry pushes for transparency, hospital charges are receiving increased scrutiny. Not only do you have to reach the board’s financial goals, but now you have to be accountable to the public and the government. Trying to balance these is difficult if you don’t have the right data.
Are you a Hospital that owns Physician Practices? Are you concerned about Physician pricing and wondering if your charges are higher or lower within your defined CMS locality? Do you need a fast and easy way to see the most current Physician Work and Total RVUs?
Often comparative inpatient pricing data between healthcare organizations provides analysis results using an average charge per day. The challenge is to understand which components are driving the overall charges per case within the inpatient visits and how do those components compare between providers.
For Healthcare Finance Professionals, budget goals directly correlate to viable forecast of Net Revenue. The budget cycle also supports larger goals related to transparency and a competitive pricing strategy. For these executives, there are a several options such as an across-the-board increase/decrease, or no change; benchmark to align pricing objectives within an allowable range for a pricing adjustment, or use benchmarks plus charge modeling to detect price sensitivity within the case-mix against reimbursement arrangements.
CMS bundled episodes for MS-DRG 469-470 (hip and knee replacements) will be mandated January 1, 2016. Is your hospital prepared?