Panacea experts will present at the 2019 HFMA Region 2 Fall Institute on how health systems can balance rational price development with the leading practices of healthcare consumerism.
ST. PAUL, Minn – Panacea, the leading provider of Rational Pricing (including Pharmacy and Supplies) and Charge Capture services will present a breakout session titled “The Pricing Transparency Conundrum: Juggling Rational Price Development with Healthcare Consumerism Leading Practices” during 2019 HFMA Region 2 Annual Fall Institute in Verona, New York, October 9-11.
Pricing transparency is an increasingly hot topic within healthcare, and the coming CMS’ 2020 price transparency regulation is only turning up the heat. Panacea’s Mark Spehar (Senior Vice President of Financial Services) and Henry Gutierrez (Vice President of Financial Consulting Services) will be demystifying this critical topic.
“With the increased use of prospective rates, many health systems have come to believe that prices don’t mean much anymore,” said Mr. Spehar. “But the fact is that with higher deductibles in-network patients are shopping for the best price more than ever and public scrutiny is only intensifying—which means organizations must understand how to comply with and thrive under the CMS pricing transparency requirements. We are excited to share how health systems can find this balance.”
The breakout session will take a deep dive into the actions organizations can take within the current financial environment. Attendees will learn how to:
- Conduct procedure profitability analyses
- Determine the appropriate discounts for patients without insurance or HSAs
- Develop rational prices
- Provide more accurate patient information on out-of-pocket service costs
The Panacea session will be Thursday, October 10, at 3 pm. Panacea will also be exhibiting at the event in booth 43. Visit Panacea at the event to learn more or find information at panaceainc.com or by calling 1-866-926-5933.
Panacea, a Career Step company, helps healthcare organizations improve their bottom lines and coding, compliance and data integrity with front-line expertise in mid-revenue-cycle management, innovative software and enterprise-level educational solutions. Designed for the healthcare professionals responsible for financial performance or compliance, Panacea helps identify opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.