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Hospital Zero-Base Pricing®
In this era of intense public scrutiny, VitalWare™ provides a proven cost- and market-based strategy, delivering a pricing discipline that the market demands while achieving your net revenue objectives.
Clearly the most defensible price is one that is based on actual cost. Over the decades, with many hospitals being reimbursed or paid less than cost by federal and managed-care payers, shortfalls were subsidized through selective-price adjustments or cross-subsidization. After years of deploying such techniques, hospital administrators are found today in an era of intense public price scrutiny with chargemasters incredibly difficult to explain.
The Hospital Zero-Base Pricing® program, powered by Panacea Healthcare Solutions, Inc., establishes prices based on actual unit costs and provides comparisons to local peers' prices. Where needed, we use sophisticated software and analysis to estimate unit costs. This saves the burden and expense of implementing a traditional cost account system. Before finalizing price models, some prices are adjusted to ensure that the cost-based prices don't fall below contractual amounts and that others remain competitive. You also receive net revenue models for multiple pricing scenarios and comprehensive audit trails for each line item. In short, you have exactly what you need to defend your pricing.
- Prices can be established based on estimated or actual unit cost to be rational and defensible
- Maintains your net revenue objectives
- Considers market prices, APC rates and fee schedules
- Pricing is competitive and defensible
- Cost accounting system is not required
- Multiple pricing scenarios presented
- Provides audit trail for future reference