With increased focus on healthcare reform, many stakeholders, including employers and health plans, believe that if consumers have access to what healthcare services cost, they will be more discriminating in their health care purchases, which, in turn, can help to lower overall health care costs. As more patients make healthcare decisions based on what it will cost them out-of-pocket, the importance of making prices rational and defensible is irrefutable.
The federal government has "repeatedly urged hospitals and doctor groups to move quickly and give consumers more data" and has "made it clear that they will push for legislation requiring health care providers to supply the information.” Meanwhile, thirty-eight states have already proposed or passed legislation regarding publication of hospital charges. Hospitals are increasingly being held accountable for the rationale behind their pricing decisions.
Over the decades, with many hospitals being reimbursed or paid less than cost by Federal and Managed Care payers, revenue shortfalls were subsidized through selective price adjustments or cross-subsidization. Unfortunately, after years of deploying such techniques, hospital administrators today have chargemasters that are incredibly difficult to explain.
Are you ready to explain or defend how your prices are derived? Wondering how you can take a "zero-base" approach while maintaining or even increasing net revenue?
Learn what steps you can take to make your organization’s pricing rational and defensible. Hear how Holy Name Hospital:
- Restructured 75% of their CDM prices to be based on cost
- Ensured that ALL prices were equal or below competitor norms
- Estimated unit costs absent a cost accounting system
- Uncovered new opportunities for revenue enhancement
Participants
in this program will be come away with the tools necessary to develop a
cost-based pricing strategy that maintains pricing competitiveness and
net revenue.
- The current legislative environment for pricing
- Why existing pricing strategies no longer work
- How can hospitals respond to the mandate for price transparency?
- What is the most rational price for hospitals
- How cost-based prices can maintain net revenue objectives
- How can the CDM line item costs be integrated into the process without the expense of a cost accounting system?
- The necessary steps to develop transparent pricing
- Case Study: Holy Name Hospital
- Question and Answer
Session
Who Will Benefit From This Audio Webcast?
Hospitals, health systems, ambulatory surgery centers, physician organizations and other healthcare organizations with titles like:
CEOs, COOs, CFOs, vice president of finance, vice president of operations, controllers, budget directors, directors of reimbursement, revenue cycle managers, PFS managers, patient access managers, strategic and implementation consultants, operations executives, executive directors, managed care professionals, medical directors, director of managed care, director of contracting, strategic planners, healthcare management, analysts, implementer consultants, and administration executives.
©2008 Health Resources Publishing