Entries by Panacea Insights

Panacea to Unveil Enhanced Hospital Strategic Pricing System at HFMA 2018 Conference

Lehi, Utah,  Panacea, a leading provider of mid-revenue cycle management, smart software and enterprise-level educational solutions, will unveil its enhanced strategic pricing system at the 2018 Healthcare Financial Management Association (HFMA) annual conference, June 24–27 in Las Vegas. Panacea’s strategic pricing system, Hospital Zero-Base Pricing®, will provide unparalleled functionality, speed and reporting capabilities for large […]

News: Panacea to Sponsor HFMA webinar on 2019 CMS Pricing Transparency Requirements, Tues. Oct. 30, 2018

The educational webinar will take a deep dive into what actions hospitals and health systems can take to prepare for the CMS pricing transparency requirements that are effective January 1, 2019.

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Panacea to Present Education Session on Pricing Transparency at HFMA 2019 Virtual Conference on Consumerism, Cost and Compliance

St. Paul, MN – April 9, 2019 – Panacea, a leading provider of mid-revenue cycle management software, consulting and educational solutions, is proud to announce that Senior Vice President Mark Spehar and Executive Vice President Frederick Stodolak will present at the Healthcare Finance Management Association’s (HFMA) 2019 Virtual Conference on April 18, 2019 from 1:00-2:00 p.m. Central Time. Their session is titled “The Pricing Transparency Conundrum – Juggling Rational Price Development with Healthcare Consumerism Leading Practices.

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Panacea to Co-Sponsor and Present Webinar on National Study of CC/MCC Capture Rates and Case Mix Index Trends with CHIA

Panacea will present its National CC/MCC Capture Rate and Case Mix Index Trend Study at a live webinar in the CHIA Lunch & Learn Webinar series on May 8.  

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How to Rationalize Chargemaster Prices

Have you ever wondered how hospital prices became so irrational? As is often the case, things changed incrementally. Hospitals and healthcare systems have experienced years of inadequate inflationary update factors, often reduced by factors such as presumed overcoding under the federal inpatient and outpatient prospective payment systems.

Operating margins, which were once attained through tight operating budget controls and across-the-board price increases to payers, have suffered for decades. Some hospitals that experienced reimbursement shortfalls optimized their chargemaster prices to subsidize such losses and help maintain their financial viability.

The net result of these forces? Many individual chargemaster line item prices have become irrational and indefensible. And in an era of higher deductibles, health savings accounts, increased transparency, and government and consumer scrutiny, it is more important than ever that CFOs and financial managers can explain, document and defend their CDM prices.

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