Hospital Strategic Pricing
Panacea is a partner focused on helping you achieve strategic, defensible pricing. We use a cost and market-based approach that achieves net revenue objectives.
Panacea’s large team of seasoned hospital pricing experts uses the industry’s leading technology and benchmarking databases to provide you with multiple pricing scenarios and keep your pricing competitive and defensible. In subsequent years, clients have the option to use the software on their own to update and maintain as cost, volume, case-mix, payer contracts, market data and strategic and net revenue objectives change.
Our process includes:
- Current unit cost, hospital, and free-standing market data
- Optimization algorithm within rational pricing parameters
- Multiple “what if” scenarios and models for consideration
- Impact analytics for stop-loss and lesser-of contract provisions
- Payer cap impact
- Gross and net revenue impact (overall and other levels)
- Commodity pricing consideration and analytics
- 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 years