In today's healthcare environment, pricing has taken on new importance.
Defensibility is the word of the day when it comes to hospital and physician price-setting. Ensuring that your patient charges will pass public scrutiny, while also working to keep your organization competitive and financially sound, is a delicate balancing act. For over twenty years, MedCom Solutions has been providing pricing services for the healthcare industry. Now is a better time than ever to evaluate your pricing position and make some informed decisions. Our Comprehensive Pricing Review accomplishes just that.
Our financial experts can help develop a defensible strategy without eroding revenue.
At MedCom Solutions our expert staff of financial consultants works diligently to examine your current pricing position and consider your goals. We'll tailor a pricing strategy to your needs, examine procedures and supplies, and consider the following key elements:
| Cost Data: |
Do your prices align with your costs? |
| Fee Schedules : |
Are your prices above fixed-fee thresholds? |
| Benchmark Data: |
Do your prices make competitive sense? |
| Linking: |
Are your prices consistent across departments for the same services? |
| Tiering: |
Do your prices make common sense from a relational standpoint? |
| Modifiers: |
Do your prices appropriately reflect hard-coded modifiers? |
| Exclusions |
Do you have the minimum possible exclusions to your pricing strategy? |
In addition to these core areas, we can recommend and perform customized analyses, such as evaluation of room and board charges, operating room rates, and procedure room rates. A Comprehensive Pricing Review allows you the flexibility to choose the most pertinent analyses for your situation, so you're getting the services you need and not the ones you don't.
Throughout our in-depth pricing analysis, you'll have the opportunity to review the impact of various pricing scenarios to your bottom line. Our pricing software models net revenue changes associated with various price movements. We can model impacts at the facility, department, carrier, inpatient/outpatient, line item level, and anything in-between.
A line-by-line review by clinical experts means your prices pass the common-sense test.
MedCom Solutions understands that in the healthcare industry, informed financial decisions require input from clinical experts. We are a one-stop shop. Our clinical experts are intimately involved with our pricing reviews, ensuring that your pricing revisions pass the approval of those who know the services best.
MedCom delivers results and ensures implementation.
Undoubtedly, you've had experiences with other consulting firms who have provided brilliant recommendations with no plan for implementation. At MedCom Solutions, we're dedicated to ensuring that you realize the full benefit of our engagement. That's why we not only provide you with electronic pricing implementation files, but we also perform an electronic audit to verify successful implementation. |
