Pricing solutions
OVERVIEW
Hospitals are facing an industry-wide challenge of ensuring their patient charges are reasonable and defensible. Increased pressure is being applied by Medicare’s Price Transparency Requirements for Hospitals to Make Standard Charges Public Final Rule effective January 1, 2021. SunStone has been fully immersed in the subject of patient charges for over thirty (30) years, including helping providers with rational and defensible pricing. We are nationally recognized experts, including being published in industry guidance like HFM.
KEY BENEFITS
We approach our charge description master (CDM) pricing engagements as a consultative solution, with the objective of helping our clients develop a refined and structured charging methodology and line item prices, which protects the hospital’s net revenue stream while being sensitive to the local market and third-party payer contracts, all while facilitating the hospital’s ability to explain detailed patient prices and, be in compliance with all regulations and guidelines.
WHY IS THIS THE BEST SOLUTION?
We utilize our internally developed software to assist in the process, and partner with our clients to ensure an optimal and efficient price setting process that cannot be accomplished through the use of a stand-alone product. While there are many software pricing tools that also provide hospitals with information to consider when making pricing decisions (e.g., market prices, costs, fee schedules), our solution is collaborative in nature. This approach provides our hospital clients with the benefit of our decades of pricing experience. Our templates and reports enable our clients to be active participants in the modeling process. A significant benefit to our approach is our client service. We respond to any client request within a few hours.
WHAT OUR CLIENTS SAY
“Due to SunStone’s decades of investment in hospital pricing, they understand the multi-faceted aspects of pricing. SunStone has been a great partner working with our administrative, financial and clinical staff to arrive at pricing solution that considers public perception, reimbursement and all regulatory and transparency details.”
– Scott Pester, Vice President, Reimbursement, The University of Kansas Health System
PART OF AN EVEN LARGER SOLUTION
Our comprehensive pricing solution is a natural complement to other SunStone services, including CDM reviews, CDM standardizations, and Pharmacy and Supply revenue cycle reviews.