Pricing Analytics Frequently Asked Questions
Does pricing still matter to hospitals?
Yes, with the advent of price transparency, hospital prices are under increased scrutiny. Hospital leaders struggle to make informed pricing adjustments to prices to meet consumer demand.
Do price changes produce an ROI?
Almost every hospital has an opportunity to generate net revenue improvements with Pricing Analytics. Quite often there is hidden price sensitivity that Pricing Analytics identifies and optimizes.
How long does a Pricing Analytics engagement take?
Once Centauri has the easily accessible required data, a model can usually be online in two to four weeks.
Can Pricing Analytics help hospitals understand their current market position?
Centauri will provide a comprehensive market analysis, Hospital Price Index (“HPI”). The HPI gives individual price information and a “market basket” approach. The Pricing Analytics solution uses market-based rules to help hospitals reach their competitive objectives.