Located in Clinton, Missouri, Golden Valley Memorial Healthcare is a not-for-profit healthcare organization, which includes a 56-bed hospital and a nationally recognized home health service. In addition, the hospital operates four physician and outpatient clinics. The rural community is situated in the west central area of the state.
Challenge
A need for price transparency drove Golden Valley Memorial Healthcare to seek
a solution that would optimize pricing in a highly competitive environment.
Solution
Pricing Analyzer™, Chargemaster Toolkit®
Results
- Increased net revenue by approximately $500,000 as a result of contractual
adjustments on commercial insurance dropping nearly. - Identified Golden Valley’s optimal pricing structure by modeling ‘what if” scenarios by price, payor sensitivity, and volume to see the impact on net revenue.
- Created a comprehensive pricing strategy and contributed to price transparency objectives, aligning pricing to be competitive.
- Opened new lines of service and was able to set optimal prices from the outset.
- Publicly published pricing for 50 common procedures.
“I’m able to see how volume, payor mix, and price sensitivity will affect the budget in different ways,
and I can tweak these things until I find the optimal pricing…I can easily find out what the net revenue impact is going to be. Pricing Analyzer really has been a good investment for our organization. It’s paid for itself many, many times over.”
Tammy Nadler, CFO
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