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| Pricing Management |
| Establish and maintain defensible, market-sensitive pricing to improve net patient revenue and achieve transparency for patient friendly billing. |
- ASP tool provides real-time monitoring and maintenance of chargemaster pricing and enables modeling to understand the net impact of pricing changes
- Defines individual pricing policies for chargemasters in multiple facilities within the same health system
- Detects exceptions to pricing policies through custom price filtering to ensure compliance with established pricing policies
- Monitors pricing in relationship to costs and provides comparisons to managed care fee schedules
- Permits establishment for defensible hospital charges by conducting market comparisons, examining the relationship of charges to cost and reviewing the impact of price changes on net revenue
- Targets specific competitors from publicly available sources at clinical service level
- Offers access to benchmarks that cover 100 percent of the chargemaster including all inpatient and outpatient services, supplies and drugs
- Sets prices based on highly flexible cost markup rules to ensure consistency and defensibility at the line-item, department and facility level
- Allows a corporate facility to standardize prices within local markets
- Understands and controls the bottom line impact of any new pricing strategy
- Models each insurance plan to accurately gauge the impact of price changes
- Models the impact of price changes at the patient level to factor in the projected increase or decrease in managed care stop-loss payments
- Determines how net revenue will be affected by proposed pricing changes
- Provides ability to explain and support pricing strategy
- Identifies outliers in current pricing
- Shows pre- and post-modeling relationships of prices to cost and the market
- Presents recommendations and findings to the board in a concise document
- Details final price markups relative to cost
- Provides a complete approach to analyzing pricing decisions with a review of the entire chargemaster instead of the typical 80/20 approach
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Improve your
Operating Margins
MedAssets improves
and sustains
operating margins
by 1.5% to 5%.
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