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Pricing News Daily > 5/14/19

PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

Value Innoruption Advisors

Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their go-to-market strategies related to innovation, marketing, pricing, and sales. Value Innoruption Advisors offers two popular value and pricing management certification programs – Customer Value Modelers™ (CVM™) and Change Agent in Pricing™ (CAP™).

Click a link below to learn more…

New proposal would allow patients to compare health care prices via smartphone | BenefitsPRO

New proposal would allow patients to compare health care prices via smartphone | BenefitsPRO

Federal officials are proposing new regulations that for the first time could allow patients to compare prices charged by various hospitals and other health care providers using data sent to their smartphones. Donald Rucker, who coordinates health information technology policy for the Department of Health and Human Services, said he expects that the rules, first […]

 

Nevada joins other states in drug price-fixing lawsuit | Las Vegas Review-Journal

Nevada joins other states in drug price-fixing lawsuit | Las Vegas Review-Journal

Nevada Attorney General Aaron Ford has signed on to a lawsuit filed by 42 states and Puerto Rico against a long list of pharmaceutical companies, alleging price fixing and market manipulation that artificially increased costs for dozens of common generic drugs nationwide. The lengthy complaint names drugmakers including Teva Pharmaceuticals USA Inc., Pfizer Inc., Breckenridge […]

 

HHS Finalizes Direct-to-Consumer Ad Drug Price Transparency Rule | Patient Engagement HIT

HHS Finalizes Direct-to-Consumer Ad Drug Price Transparency Rule | Patient Engagement HIT

May 08, 2019 – HHS has finalized its rule requiring drug manufacturers to disclose drug prices within direct-to-consumer advertisements, a move that comes with the agency’s efforts to improve price transparency and tackle high out-of-pocket patient drug costs. Drug manufacturers will be required to disclose the list price – the cost of the drug before health […]

 

Pharma stocks crash after US lawsuit over price manipulations | The Economic Times

Pharma stocks crash after US lawsuit over price manipulations | The Economic Times

The office of the attorney general of Connecticut unsealed documents, that ET has a copy of, which reveals initials and titles of individuals implicated in the conspiracy, industry “code words” and previously undisclosed emails from drug companies “brazenly discussing strategy to violate federal and state antitrust laws”. The Indian generic makers named in the lawsuit […]

 

Drug court to try firms refusing to cut prices | The Express Tribune

Drug court to try firms refusing to cut prices | The Express Tribune

ISLAMABAD: The government is expected to take up the issue of hike in drug prices at its next cabinet meeting while it intends to move the drug court against all those pharmaceutical companies who refuse to lower prices of their medicines in line with the recent policy decision of the government. This was disclosed by the […]

 

District of Columbia Council Proposes Congestion Pricing Study | Transport Topics

District of Columbia Council Proposes Congestion Pricing Study | Transport Topics

Leaders representing the District of Columbia have proposed allocating $475,000 to study congestion pricing for vehicles moving in and around the nation’s capital. The Committee on Transportation and the Environment, led by D.C. Councilmember Mary Cheh, proposed the study during a markup hearing on the budget May 2. The District Department of Transportation would be […]

 

My Value Pricing Journey | Accounting WEB

My Value Pricing Journey | Accounting WEB

For the next few posts, I am going to write about my journey towards Value Pricing. After hearing about it for years, I have decided to fully adopt this highly recommended strategy. Such dramatic change is unsuitable for jumping in feet first, careful planning is required. Keeping that in mind, I decided to interview a colleague […]

 

‘Avengers: Endgame’ fans spent almost $30 million on AMC’s cinema snacks in 2 days (AMC) | Markets Insider

‘Avengers: Endgame’ fans spent almost $30 million on AMC’s cinema snacks in 2 days (AMC) | Markets Insider

AMC showed the three-hour Marvel movie 63,000 times in the US over a four-day stretch — over 20,000 times more than its previous biggest opening. The film also sparked a surge in applications to become A-List members — the top membership tier of AMC’s Stubs loyalty program. The group now has more than 787,000 A-List […]

 

Webinar: Successful Price Increases using Market Insights | PriceBeam

Digitalization is everywhere of course. But whereas some industries are 100% digital from birth, others are still transforming from traditional consumer or industrial products to more of a digital service industry. Regardless of where your industry and company is on the digitalization path, pricing practices are severely impacted. Digitalization means increased transparency, more information,  as well as internationalization of buying and selling, but also new opportunities for value-adding and new services that can be offered and monetized.

Participants and viewers of the webinar will learn about

  • What trends in digitalization mean for pricing.
  • Avoiding (some) pricing pitfalls when digitalizing existing offerings
  • Using digital insights to better understand opportunities
  • How to predict optimal prices for digital services using market research

The webinar will be available from the end of May 31st, 2019. If you have already signed up you will receive a link by the end of this date. Otherwise, sign up on the right and receive a link by email to view the recording.

 

 

Webinar (On-demand): Setting the Right Price on New Products or Services | PriceBeam

In this webinar PriceBeam co-founder and Chairman, Finn Hansen, together with The Pricing Coach, Mark Peacock walk viewers through various challenges around the pricing of new products or services.

This on-demand webinar covers:

  • Common challenges when creating new products or services
  • How pricing should play a more prominent role in the innovation process
  • The various steps of product development and how pricing can add value at each step
  • Different types of price research that can improve the value of the new product
  • Psychological pricing tactics to improve the introduction of the new product or service.

 

Webinar (On-Demand): Using AI To Get C-suite Attention For Pricing | Perfect Price and PPS

Pricing is high impact, but are you getting the attention you deserve? In any enterprise environment, the struggle for attention and resources is always an issue. As a pricing professional, how can you get c-suite attention for prioritizing pricing initiatives and allocating budget?

Aligning yourself with your company’s digital transformation initiatives is a great way to move pricing into the fold as a key driver. In particular, focusing on disruptive technologies like Cloud Technologies, AI, Machine Learning, and Decision Automation, can help to spark executive interest.

By choosing an AI vendor over other pre-internet vendors you’ll find more approachable budgets and rapid implementation timelines, which will aid immensely in getting executive buy-in. AI-based pricing tools, like Perfect Price, have measurable ROI and are proven to simulate pricing better than other technologies.

 

 

30th Annual Fall Conference & Workshops October 15-18, 2019 | PPS

We are excited to announce we’ll be in Las Vegas, NV for our 30th Annual Fall Pricing Conference & Workshops October 15-18, 2019! You can register now and take advantage of our Early Bird Offer.

 

Webinar (On-Demand): Machine Learning & Data – The Latest Pricing Opportunity | PPS and Vistaar

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success.

Computers are more adept than humans at sorting through data with complex variables such as frequently fluctuating costs, rapidly evolving pricing models, and shifting customer priorities. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale and drive decision making based on data.

In this PPS webinar, Vistaar’s Director of Product Management, Dushyant Zutshi, discusses how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview…

“If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

     – Warren Buffett

 

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