Improving Revenues - Delivering Results     
 
 
DEFENSIBLE PRICING AUDITS

OUR APPROACH
Health system sought expert review of current pricing strategy.
 
A large academic medical center with an established process for performing annual pricing reviews enlisted the expertise of MedCom's financial consultants to assess their current pricing strategy through a Defensible Pricing Audit. Building upon clinical and IT expertise, MedCom generated a series of electronic audits to quickly produce a litany of issues that needed to be addressed to enhance the facility's pricing defensibility. MedCom's price tiering data file provided a means for electronically evaluating procedure price relationships (e.g. one-view chest x-ray versus two-view chest x-ray). This audit highlighted over 900 chargemaster line items with questionable pricing for related procedures, which the facility planned to immediately review and address. Additional defensibility audits pinpointed 2,300 chargemaster line items (a total of 575 distinct procedure codes) with inconsistent pricing between departments and/or facilities, as well as more than 225 line items requiring revision to meet Medicare reimbursement thresholds. Even a medical center with a strong pricing process in place found that they were pleased to benefit from the practical and actionable information that the Defensible Pricing Audit provided.

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