The survey — conducted in February and March among 200 U.S. hospital and health system executives — found that 70 percent of respondents said their organizations use a traditional approach of benchmarking commercial health plan payment to their market to determine pricing.
Thirty-six percent of respondents said their organizations determine pricing by using service-specific price-risk analysis, while 27 percent said their organizations do so by using patient-level cost-to-reimbursement analysis or price-volume trade-off analysis, according to the survey.
Seventeen percent of respondents said their organizations use service-specific consumer price elasticity analysis. And 9 percent of respondents said their organizations don’t use any of the aforementioned methods to determine pricing.
“To remain competitive, organizations must recognize the need for new, consumer-driven delivery and pricing models, and effective strategies to conveniently communicate accurate price estimates to consumers,” the researchers concluded.
Access the full survey results here.
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