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How to Develop a Hospital Cost-Based Pricing Strategy That Maintains Competitiveness and Net Revenue Audio Conference
Managed Care Information Center, Nov 2008, Minutes: 90
With increased focus on healthcare reform, many stakeholders, including employers and health plans, believe that if consumers have access to what healthcare services cost, they will be more discriminating in their health care purchases, which, in turn, can help to lower overall health care costs. As more patients make healthcare decisions based on what it will cost them out-of-pocket, the importance of making prices rational and defensible is irrefutable.
The federal government has 'repeatedly urged hospitals and doctor groups to move quickly and give consumers more data' and has 'made it clear that they will push for legislation requiring health care providers to supply the information.” Meanwhile, thirty-eight states have already proposed or passed legislation regarding publication of hospital charges. Hospitals are increasingly being held accountable for the rationale behind their pricing decisions.
Over the decades, with many hospitals being reimbursed or paid less than cost by Federal and Managed Care payers, revenue shortfalls were subsidized through selective price adjustments or cross-subsidization. Unfortunately, after years of deploying such techniques, hospital administrators today have chargemasters that are incredibly difficult to explain.
Are you ready to explain or defend how your prices are derived? Wondering how you can take a 'zero-base' approach while maintaining or even increasing net revenue?
Learn what steps you can take to make your organization’s pricing rational and defensible.
Hear how Holy Name Hospital:
- Restructured 75% of their CDM prices to be based on cost
- Ensured that ALL prices were equal or below competitor norms
- Estimated unit costs absent a cost accounting system
- Uncovered new opportunities for revenue enhancement
Join Healthcare Reimbursement Monitor for “How to Develop a Hospital Cost-Based Pricing Strategy That Maintains Competitiveness and Net Revenue ,” that took place in November 2008.
Participants in this program went away with the tools necessary to develop a cost-based pricing strategy that maintains pricing competitiveness and net revenue.
Who Will Benefit From This Audio Webcast?
Hospitals, health systems, ambulatory surgery centers, physician organizations and other healthcare organizations with titles like:
CEOs, COOs, CFOs, vice president of finance, vice president of operations, controllers, budget directors, directors of reimbursement, revenue cycle managers, PFS managers, patient access managers, strategic and implementation consultants, operations executives, executive directors, managed care professionals, medical directors, director of managed care, director of contracting, strategic planners, healthcare management, analysts, implementer consultants, and administration executives.
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