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 provide a sound evaluation of its Strengths, Weaknesses, Opportunities and Threats. This SWOT analysis serves as an affirmation to any of the constructive controls currently in place, and also emphasizes key areas for improvement, offering you a strong foundation from which to build a comprehensive pricing review.
A series of electronic audits gauge key areas of defensibility.
As a component of a Diagnostic Pricing Review, MedCom financial consultants perform an analysis of four specific defensibility metrics, providing summaries of the line items identified for review and potential revision.
| Fee Schedules : |
Are your prices above fixed-fee thresholds? |
| 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? |
Attention to detail in these focus areas can improve your organization's vulnerability to negative public price perception, and we provide you the knowledge to make improvements where they are warranted.
Competitive analysis identifies possible market-based pricing opportunities.
Ensuring a competitive pricing strategy through the use of benchmark pricing data helps to confirm reasonability of pricing at the line item level. Additionally, this approach will provide you a glimpse of how your price position compares to that of your selected competitive benchmark grouping, and is a useful tool in identifying high-level revenue opportunities.
MedCom delivers results and ensures 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 high-level findings in the areas described above, but we also deliver the detail files showing the line items identified for further review in the key defensibility audits. Actionable results are the cornerstone of our consulting practice.
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