Establish Defensible, Competitive Pricing
Ensuring that prices not only cover costs, but are also defensible, transparent, and competitive, is an ongoing healthcare challenge. With reimbursements shrinking and more cost shifting to consumers, the ability to adapt quickly is essential to optimized pricing. Industry research reveals that 10 to 25 percent of a hospital’s total business is charge-related, and that even a modest price increase can improve operating margin.
Pricing Analyzer™ simplifies and automates the price-modeling process, providing the speed and flexibility you need to adapt to dynamic market conditions. It helps your organization readily assess the potential impact of pricing and market changes, such as revenue shortfalls, while ensuring that pricing is transparent, defensible, and competitive.
Pricing Analysis for Transparent, Defensible and Competitive Pricing
To enable strategic pricing, Pricing Analyzer integrates data from disparate systems and automatically generates pricing models that factor in regulatory, reimbursement, cost, and market information. You’re then able to:
- calculate payor mix and price sensitivity to assess the impact of changes
- create and compare multiple pricing scenarios down to the service line, or aggregate to the facility
- measure pricing against current industry benchmarks and competitors
- evaluate and adjust pricing based on inflationary factors
- provide complete documentation to key stakeholders and auditors
Pricing Analyzer Implementation Services
Craneware Professional Services provides an implementation service for Pricing Analyzer to ensure a successful implementation for quick return on investment. This implementation service establishes an effective business process that ensures ongoing software benefits. Our team will assist in establishing the baseline for price modeling and alternative pricing models, onsite training, and reports that identify high opportunity areas, revenue and payor graphs, and recommended processes.
Pricing Consulting Engagement
Craneware also offers a Pricing Analysis Review service for customers who have traditionally outsourced this role in the past. Our pricing consultants will perform a comprehensive pricing review, establish and compare alternative price models, and recommend appropriate pricing for new service lines and departments.