Tag: Price Negotiations

How AI Is Changing Sales | Harvard Business Review

How AI Is Changing Sales | Harvard Business Review

Companies are using AI in all kinds of innovative ways to advance their businesses. If you’ve ever searched Netflix to watch a movie, AI (a recommendation algorithm) was no doubt used in your decision about what to watch.  If you’ve shopped on Amazon, your decision about what to buy was also influenced by AI (via […]

Price Transparency in Healthcare Will Save Trillions | Economics21

Price Transparency in Healthcare Will Save Trillions | Economics21

While care is largely delivered by private insurers, hospitals, and physicians, each of those groups is influenced by price controls and regulations that stymie their entrepreneurial spirit. Too often, consumers experience “the system” as unresponsive behemoths. What’s more, health insurance obscures the true cost of care from patients, removing any incentive to shop for value, […]

CMS Proposes Site-Neutral Payments, Drug Price Negotiation | Health Payer Intelligence

CMS Proposes Site-Neutral Payments, Drug Price Negotiation | Health Payer Intelligence

“If finalized, this proposal is projected to save patients about $150 million in lower copayments for clinic visits provided at an off-campus hospital outpatient department,” the agency said in a press release. “CMS is also proposing to close a potential loophole through which providers are billing patients more for visits in hospital outpatient departments when […]

Anchoring should be a mainstay of pricing research | Research Live

Anchoring should be a mainstay of pricing research | Research Live

Understanding the core principles of anchoring can not only shed light on how consumers perceive price, but aid researchers in conducting pricing research, says Shamvir Singh. A core part of behavioural economics is the ‘anchoring principle’. Anchoring occurs when consumers use an initial piece of information to make subsequent judgments. Once an anchor is set, other […]

Will Patients Benefit From Pharma’s Pause on Drug Price Increases? | Center for Biosimilars

Will Patients Benefit From Pharma’s Pause on Drug Price Increases? | Center for Biosimilars

Last week, drug manufacturer Merck announced that it will be taking part in several strategies to establish “responsible pricing” going forward, joining the ranks of some of the latest companies taking similar actions, including Novartis and Pfizer. However, the question remains whether patients will be able to feel any cost savings from halts to price […]

Maryland broadens hospital price transparency initiative | Healthcare Dive

Maryland broadens hospital price transparency initiative | Healthcare Dive

Maryland has high hopes that its all-payer model will cut costs and reduce hospital use, and this program is aimed to push consumers to help drive those costs down. The state’s pricing initiatives are worth watching. According to a recent JAMA Network report, hospitals are generally not getting better at providing price estimates for procedures, despite […]

The 5,000% price hike that made Martin Shkreli infamous is no longer paying off | Ars Technica

The 5,000% price hike that made Martin Shkreli infamous is no longer paying off | Ars Technica

Martin Shkreli’s former pharmaceutical company lost more than $1 million in the first quarter of 2018 amid waning sales of the drug made famous by Shkreli’s more than 5,000-percent price increase. That’s according to financial documents recently reviewed by Stat. Vyera Pharmaceuticals, formerly known as Turing Pharmaceuticals, had brazenly maintained Shkreli’s despised price hike of […]

Food Delivery Discount Service Increases Sales During Restaurant Off-Peak Hours | Foodable Network

Food Delivery Discount Service Increases Sales During Restaurant Off-Peak Hours | Foodable Network

Though delivery has proven to be a huge market with the likes of UberEats and Grubhub snatching up restaurant dollars, it has also proven to be extremely expensive for operators and, consequently, for consumers. According to Forbes, Restaurants could pay anywhere between 11% and 45% commission on each order if they sign up for a […]

Reference based pricing health insurance gaining momentum | Employee Benefit News

Reference based pricing health insurance gaining momentum | Employee Benefit News

Reference-based pricing allows employers to pay for medical services based on a percentage of CMS reimbursements (i.e. Medicare + 30%), rather than a percentage discount of billable charges. This model ensures that the above-mentioned hospitalization cost an employer $3,000 rather than $25,000. “Negotiating” like Medicare Reference-based pricing is becoming increasingly popular as more organizations consider […]

B&Q to invest £100 million in new pricing strategy | Business Insider

B&Q to invest £100 million in new pricing strategy | Business Insider

The retailer’s new strategy has already seen it drop prices on 2,000 items, with an average saving of 15%. It plans to lower prices on more products later in the year. Parent group Kingfisher, which comprises a host of DIY brands including B&Q and Screwfix, has unified the buying functions across its divisions, helping it […]