7 pressing healthcare topics CFOs should watch closely | Becker’s Hospital Review

Mark Grube, Managing Director and National Strategy Leader, Software, Kaufman Hall: “Pricing strategy. We did a survey last year of health systems — we had roughly 120 respondents — on consumerism. We measured four different elements: patient experience, access considerations, using customer insights to drive strategy, and pricing. It was fascinating because in terms of real-time importance of each of those dimensions, pricing came out last. Thirty percent of organizations saw it as a priority and 10 percent were addressing pricing strategy actively. With high-deductible health plans, certain services will be viewed by consumers as commodities, and that needs to be filtered into the thinking when developing pricing strategy. There is a lack of understanding about demand elasticity for different providers in their marketplace. What kind of brand premium does a leading academic medical center carry in a marketplace where they can demand pricing over a community hospital or freestanding center? Pricing strategy is either not being addressed or being addressed with intuition.”

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7 pressing healthcare topics CFOs should watch closely.