Session #: 81527-xh
Presenter(s): Michael Nugent
Session Length: 1hr. 40min.
Event: 2005 HFMA Audio Webcast Date: 4-21-05
Recent capital shortfalls, volume declines in high margin services, public scrutiny of hospital pricing practices, and newly empowered consumers are forcing hospitals to revisit their overall pricing strategy. Fading are the days when the finance department could simply increase the chargemaster by 5%, cross-subsidize money losing programs, and overlook patients price sensitivity. To protect their top line, hospitals must embrace a pricing strategy that advances their organization's competitive positioning, contracting approach and forecasting and optimization techniques among others. Our speaker will define the need for a fresh look at pricing strategy and outline a comprehensive approach to strategic pricing based on case studies from organizations that have taken a new look at their historical pricing approaches.
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