Turbocharge your chargemaster then offer payers 50% off double the price………..
“In the United States, the chargemaster, also known as charge master, or charge description master (CDM), is a comprehensive listing of items billable to a hospital patient or a patient’s health insurance provider. In practice, it usually contains highly inflated prices at several times that of actual costs to the …” See more
Chargemaster (CDM) Review and Pricing Strategies
Optimize Charges, Don’t Sacrifice the Bottom Line
The average hospital has 11,000 Chargemaster lines, 50-70 different departments, 20-30 payer contracts and thousands of patient visits per week.
With so many variables affecting charges, hospitals need to model different scenarios to determine which areas you can realistically lower charges without hurting your bottom line.
This sophisticated, data-driven modeling approach starts with an assessment of your hospital’s gross charge and net revenue goal.