Panacea Launches RateAnalyzer: A Benchmarking Tool to Negotiate Favorable Payer Contracts
ST. PAUL, June 2023 — Panacea Healthcare Solutions is proud to announce the launch of RateAnalyzer™, a benchmarking tool designed to provide actionable insights for negotiating favorable payer contracts using price transparency data.
As healthcare costs continue to rise, hospitals and physician practices are under increasing pressure to negotiate favorable payer contracts to maintain financial stability. With the introduction of RateAnalyzer, your organization can now leverage price transparency data to gain a competitive advantage in payer negotiations.
The tool provides a comprehensive analysis of pricing trends, payer performance, and reimbursement rates, empowering hospitals and physician practices to make data-driven decisions about their payer contracts. By utilizing RateAnalyzer, healthcare providers can identify areas where they can improve reimbursement rates and develop targeted strategies for payer negotiations.
“RateAnalyzer provides clients with valuable insights they can use to negotiate more favorable payer contracts. By utilizing price transparency data, providers can ensure that their pricing is aligned with industry standards and that they are getting paid fairly for the services they provide.”—Govind Goyal, Panacea’s President of Financial Services
Overall, RateAnalyzer is a powerful tool for hospitals and physician practices looking to gain a competitive advantage in payer negotiations. By leveraging price transparency data, healthcare providers can optimize their revenue and maintain financial stability, while also ensuring that they are providing the best possible care to their patients.
Watch our short explainer video below.