Charge Master Reconfiguration
- A detailed analysis of the charge master
- A net revenue-neutral analysis of patient and payer data
- Alternative pricing strategies
- A fresh competitor market analysis
- A strategic charge master within 60 days
- A monthly scorecard of net revenue impact for one year
Our Process
It starts with a detailed analysis of the existing charge master using our algorithmic statistical tool. We create a net revenue-neutral analysis from at least two years of patient and payer data to confirm the statistical relationships across all service lines as well as the elements that drive patient visits and net revenue.
This includes trend analysis and a fresh analysis of the hospital’s market to create a strategic charge master. We use a consistent mark-up across service lines to:
- Protect the existing net revenue stream
- Reduce charges and contractual allowances strategically
- Right-size charges for the hospital’s market
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Deliverables
1. A fresh market analysis
2. Different market pricing strategies
3. Charges based on cost plus a consistent mark-up
4. Strategically reduced charges and contractual allowances
5. Existing net revenue preserved
6. Financial modeling targets for potential alternative payment methodologies
7. A separate analysis of supply costs for Materials Management
6. Tightens the RCC and makes the charge master a revenue-generator again
7. Rationality and defensibility of charges
8. A replacement charge master file within 60 days
9. An option for a monthly summary of net revenue impact by service line and department for one year
A strategic charge master Reconfiguration will strengthen digital outreach to consumers as part of an enhanced Transparency strategy, plus it will serve as a significant market differentiator.