Hospital Pricing Consultant Services
While the Patient Protection and Affordable Care Act, Section 2718(e) requires that each U.S. hospital publish a list of standard charges for items and services it provides, managing to this requirement can be a complicated balancing act. There’s an increase in public demand for pricing transparency, along with the need to increase your hospital’s net revenue to meet financial targets and to remain competitively priced with other healthcare providers. How do you accomplish all of these efficiently and confidently? Trust Craneware to lead you in establishing consumer driven, defensible and transparent pricing that meets your hospital’s specific objectives.
Building a Solid Pricing Strategy
Now more than ever, healthcare pricing is being publicly scrutinized and the need for pricing defensibility has never been stronger. Do you need expertise to define a pricing strategy and create a repeatable, well-documented method for price modeling? Or an outside source with an objective viewpoint to review an existing pricing model?
Engage our senior consultants to provide the industry knowledge, experience, competitive data, and proficient tools to create a strategic pricing strategy. We will establish a new pricing model that will enable you to achieve both immediate and sustainable revenue integrity benefits.
This comprehensive and consultative pricing review strategically defines how to implement price increases rather than implementing across-the-board increases that are not defendable. Based on your hospital’s unique payor mix, volume, fee schedules, reimbursement rates and payor caps, our pricing recommendations include:
- Leading a rigorous top-down pricing review for each service and charge code at the facility, department, payor, item code or other customizable level
- Analyzing all pricing issues and delivering more than 20 custom models that detail the impacts each will have on achieving your hospital’s financial objectives
- Establishing pricing methodologies that take into account market sensitivity, ever-changing payor conditions, and comparative data for competitive hospitals
- Illustrated associated incremental revenue impacts that price adjustments can have across the organization
- Recommended appropriate pricing for new service lines, departments, same CPT, and price relationships (e.g., CT Scan with, without, and with and without CC)
Partnering to Achieve Revenue Integrity
With a repeatable and well-documented method for price modeling, you’ll turn effective pricing into a competitive market advantage that allows you to remain focused on supporting your community with quality healthcare – especially in increasingly competitive times.
As the leader in automated revenue integrity solutions for over 15 years, hospitals of all sizes and types rely on Craneware to help address their toughest challenges. Our team of experienced professionals is committed to applying Craneware’s proven industry best practices to help your hospital optimize reimbursements and reduce compliance risk.