Strategic Pricing

Achieve Pricing Discipline and Financial Objectives with Panacea’s Proven Approach to Hospital, Physician, and Pharmacy Pricing

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Mastering Strategic Pricing with Panacea’s Hospital Zero-Base Pricing^® Solution

In today’s healthcare landscape, the ability to justify and defend every line item price in your organization’s charge description master (CDM) is crucial. Panacea’s innovative solution, Hospital Zero-Base Pricing^®, offers a pioneering strategy that ensures your prices are grounded in clear rationale while aligning with net revenue objectives. With our team of seasoned pricing experts and industry-leading software, you can confidently optimize your hospital, physician, and pharmacy pricing strategies.

Hospital Zero-Base Pricing^®

Panacea’s large team of seasoned hospital pricing experts uses the industry’s leading technology (Hospital Zero-Base Pricing^®) and benchmarking databases to provide you with multiple pricing scenarios and keep your pricing competitive and defensible.

Key Benefits

Develop defensible pricing based on cost and/or market data
Establish clear, documented rationale
Ensure CDM prices are defensible yet yield optimum net revenue
Improve position on publicly available consumer reports
Reduce dependency on consultants for pricing updates in subsequent

Physician Pricing

Physician Pricing With the integration of physician practices, it is imperative that health systems develop defensible physician charges.

Panacea helps you identify and correct inconsistencies in pricing for like services that may have resulted from a myriad of acquisitions.

We can also help you restructure physician prices to be in line with the market while ensuring optimum net revenue. The outcome will be defensible and documented line item prices based on a hybrid of RVU, payer fee schedules, and local and regional market data.

Panacea’s services are led by experts who understand your day-to-day challenges and take the time to learn your organization’s goals. The result? Reliable analysis and actionable recommendations to make your organization even healthier.

Key Benefits

Eliminate inconsistent pricing across disparate physician practices
Defend and document each line item price based on hybrid of RVU, payer fee schedule, and local and regional market data.
Ensure prices result in defensible yet optimum net revenue
Reduce risk with documented audit trail for future reference

Pharmacy Pricing

Unlike most departments, pharmacy pricing is typically not hard-coded and billed from the chargemaster. Rather it is generated on an array of variables such as drug cost, quantity, units, tiered mark-up factors, dispense fees, and more. With all these factors it’s easy for something to go wrong, and drug billing has recently been called to attention by recovery audit contractors and payers for overbilling, which has often taken place inadvertently.

In this era of scarce financial resources, financial and pharmacy managers cannot risk being blind-sided with large take-backs due to drug overbilling. In addition, your organization cannot risk unfavorable publicity due to unreasonable drug prices.

Panacea can help you overcome these challenges with a defensible pharmacy pricing strategy.

Key Benefits

Uncover coding and billing risks lurking in your pharmacy systems
Reveal new incremental revenue opportunities
Update and maintain accuracy and data integrity
Create rational and defensible drug pricing
Reduce risk for RAC, OIG, and payer audits
Reduce public relations exposure

Comparative Health Data™

Comparative Health

Get Actionable Insights with Comparative Health Data™

Peer pricing has become key to establishing defensible pricing in today’s healthcare environment.

Panacea has developed the nation’s first, easy-to-use, and cost-efficient peer pricing analyzation solution: Comparative Health Data™.

Hospitals or consultants can now develop unlimited customized peer comparison groups based on a claims and cost reports representing more than 5,000 hospitals and more than 600,000 physician medical offices and freestanding facilities to compare numerous variables:

Hospital HCPS level prices to any single or group of hospitals nationwide
Room and board rates and prices at the HCPCS/CPT level
Charge-to-cost mark-up factors for operating room, medical supplies, drugs, and more
Coding and pricing patterns
Outpatient HCPCS coding differences between you and your peers

Get the data you need to establish your own defensible pricing strategy.

Key Benefits

Access easy-to-compare peer pricing and utilization data
Gain the knowledge needed to establish defensible pricing

Panacea’s solutions have been a game-changer for our revenue cycle operations. The powerful rules and analytics, combined with access to peer pricing, provide unparalleled insights that drive smarter decisions. Their knowledgeable implementation team made the process seamless, and the value we’ve gained from their expertise has exceeded expectations. It’s a partnership we truly trust. Vice President, Revenue Cycle