Panacea and Cbiz Partner for Hospital Zero-Based Pricing Suite
Posted on: Wednesday, 20 February 2008, 15:01 CST
Panacea Healthcare Solutions and Cbiz Consulting Services have announced their Hospital Zero-Based Pricing solution to assist hospitals in restructuring their prices to be more rational in this era of consumer awareness.
By deploying the company's Hospital Zero-Base Pricing program, similar to a zero-base budgeting approach, hospitals can re-justify each line item price in their charge master based on actual or estimated unit cost and give adequate consideration for overhead, uncompensated care, profit margin, adequate consideration for payer contract terms, fee schedule amounts and market prices.
Frederick Stodolak, CEO of Panacea, said: "With healthcare consumers paying more out of pocket today and federal and state initiatives underway making hospital prices public, there is increased scrutiny of these prices. It is not uncommon, however, for a hospital to have items in its charge master that clearly consume similar resources yet have quite different prices - a practice which consumers and government officials have often found difficult to accept."
Source: Datamonitor
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