OnDemand WTP Pricing Research

Publish Your Prices, Boost Your Bottom Line | HealthLeaders Media

Publicly listing prices for common surgeries helped to boost revenue and patient satisfaction.

That’s the finding from a small study of ambulatory surgical centers across the country by Johns Hopkins researchers and published in the April issue of The American Surgeon.

Consumers are increasingly demanding more control over their healthcare decisions, including how much they pay. As a result, many hospitals and health systems are placing strategic focus on their pricing strategies, including both disclosing prices upfront and offering competitively priced services.

Drawing from a database held by the Free Market Medical Association, researchers identified eight ambulatory surgical centers that listed prices for surgical services on their websites. The researchers sent a data collection form to the eight centers between April and May 2016.

Six of the centers returned completed forms, which asked for patient demographics; details of price transparency initiatives; and how patient volume, patient inquiries for services, patient satisfaction, and center revenue changed one year after making prices transparent.

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Publish Your Prices, Boost Your Bottom Line | HealthLeaders Media.