Developing a defensible pricing strategy. Hospital pricing is a science, not an art.
A more sophisticated approach to establishing hospital pricing strategies should include: Reevaluating billing policies and processes to establish payment plans and protocols for collection. Establishing a predictable and accurate pricing schedule for all services based on variables such as market, cost, and fee schedules. Leveraging IT to guide decision making Informing hospital boards of the basis for pricing strategies.
Wichmann
Richard
R
Pricewaterhouse Coopers, Boston, Massachusetts, USA. richard.wichmann@us.pwc.com
Clark
Reatha
R
D000067:Accounts Payable and Receivable; D003659:Decision Making, Organizational; D005249:Fees and Charges; D005377:Financial Management, Hospital / Q000458:organization & administration*; D008329:Managed Care Programs; D016134:Organizational Policy; D012941:Social Responsibility; D014481:United States