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Hospital Impact has been ranked one of the top 50 healthcare blogs by Wikio.
Blogs we like:
In light of the recent discussion on hospital pricing, I thought this roundtable discussion on pricing (PDF) from HFMA was a helpful tool.
Two hospital CFOs, some consultants, and a lawyer talk it up. Among some of the interesting take-aways:
- Even the words "strategic pricing" has a negative connotation. Sounds like "pricing to make a lot of money." One participant preferred using "price transformation."
- To prevent backlash, set up an agreed set of criteria for pricing changes. Use these criteria consistently for all pricing decisions.
- Pricing is not just a "finance" issue.
- Good pricing starts with good tools: a clean chargemaster and a good market intelligence tool.
- No pricing policy is complete without a thoughtful charity care policy.
While we're at it, check out HFMA's White Paper (sponsored by 3M) of Strategic Price Setting (PDF, June 2004), where you'll find 11 pricing pitfalls to watch out for.
