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 hospital systems. With the new software, health systems will have the technology to bring their chargemaster pricing initiatives in-house while still having access to Panacea’s pricing experts.
“The timing couldn’t be better for the release of our new strategic pricing system,” said Ted Barduson, President and General Manager of Panacea. “With the recent FY19 IPPS rule proposal from CMS requiring hospitals to publish their standard chargemaster prices online starting in 2019, we can provide hospitals sufficient time to develop a rational chargemaster. The powerful new system will be particularly attractive to large health systems, which are under pressure to perform financial pricing models for each of their providers. Under the new system, they will be able to apply and process parameters to multiple providers simultaneously.”
Hospital Zero-Base Pricing® allows hospitals to develop rational and defensible prices based on unit cost, both hospital and free-standing provider market data, payor contract terms, and strategic and financial objectives. The data is then synthesized into a single financial model, providing a defensible pricing strategy for healthcare organizations. This software has been used by hospitals and health systems nationwide and has received the coveted Peer Reviewed by HFMA® designation for six consecutive years.
“The updated version of Panacea’s popular Hospital Zero-Base Pricing system has a new front-end, allowing clients to concurrently enter new parameters and instantly see the adjusted results and charts on-screen,” said Mark Spehar, Senior Vice President at Panacea. “The new system provides the industry’s most comprehensive set of reports, illustrating the gross and net revenue impact and the statistical position against the market data at the departmental or clinical service levels. The enhancements will accommodate the needs of small and large health systems with stellar performance not seen before.“
To learn more about Panacea’s Hospital Zero-Base Pricing® system, visit panaceainc.com or call 1-866-926-5933.