Important Considerations in the Development of a Defensible Pricing Strategy
Transparency in pricing requirements and customer expectations are on the rise. Payors and media routinely publish fee comparisons for regional competitors. Published information nurtures a more informed public who, in turn, place new demands on providers. High deductibles and increased coinsurance responsibilities have driven dramatic increases in patient inquiries into internal pricing methodologies. Many providers struggle to explain or understand the methodology used to establish pricing. This lack of clarity and consistency prohibits best class customer service. A patient-centric, defensible pricing methodology is an absolute requirement for appropriate reimbursement, representative budgets and best class customer service. This presentation details the steps, considerations and action items necessary to implement and maintain a best class pricing protocol.
John Behn, MPHA, Stroudwater Associates