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Our Pricing Reviews are Goal-Oriented, Customized & Comprehensive
Is Chargemaster pricing that is inconsistent with your market and payor contracts adversely impacting your volume and reimbursement? Many facilities implement annual across-the-board pricing increases without taking the organization’s current pricing position and financial goals into account. Performing a Comprehensive Pricing Review can not only benefit the bottom line, it can also help you achieve increased leverage with managed care payers and increased patient satisfaction.
MedCom consultants work closely with your finance management team to customize a pricing strategy that meets the goals of your organization and aligns with current regulatory guidelines. We work with you to establish your:
- Organizational Goals – Define revenue objectives and consider defensibility
- Facility Costs – Determine how charges align with costs
- Market Benchmarks – Evaluate the facility’s current market position relative to a customized listing of competitors
- Contract Reimbursement – Analyze payor contracts relative to revenue impacts
Throughout our in-depth analysis, you will have the opportunity to review the impact of various pricing scenarios to your bottom line. Our patented R3 pricing software is customized for each engagement by developing a net revenue model based on the current reimbursement structure of your hospital, which allows for evaluation of net revenue changes associated with price movements down to the line item level.
Custom Pricing Analyses
In addition to these core areas, we can recommend and perform customized analysis, such as evaluation of room and board charges, operating and procedure room rates. A Comprehensive Pricing Review allows you the flexibility to choose the most pertinent analysis for your situation, so you are getting the services you need and not the ones you don't.