This Week in Pricing > 9/15/18

pricingnews-WeeklyThis Week in Pricing is a collection of pricing focused news, thought leadership , events, jobs and professional education resources for pricers.

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Professional Pricing Society

Currently, PPS produces three major annual pricing conferences in Europe and North America. Each conference also houses a technology hall where sponsors display the latest in Pricing Solutions software. PPS also offers more than two dozen, full-day training workshops every year, taught by leaders in the pricing community. These workshops serve as the foundation for PPS’s Certified Pricing Professional (CPP) designation, our state of the art pricing certification program. Candidates may be certified after mastering a multi-stage curriculum followed by rigorous testing. Successful CPPs have acquired the core knowledge which not only places them in the top rungs of the pricing field, but also gives them the tools to enhance substantially their own careers.

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Top Headlines

This New Non-Profit Drug Company Wants To Fix The US Healthcare Industry | IFLScience

This New Non-Profit Drug Company Wants To Fix The US Healthcare Industry | IFLScience

In a bid to combat the exorbitant, greed-driven pricing schemes of pharmaceutical companies and increase the availability of essential generic medications, seven large American hospital chains have joined forces to form a new non-profit drug company. The plans for this endeavor were first announced in January, and as of today, we now know the name, […]

 

Oil should be at $52 per barrel says Emirates Tim Clark | CNBC

Oil should be at $52 per barrel says Emirates Tim Clark | CNBC

Airline fuel is overpriced, and the underlying cost of oil should sit around $52 per barrel, Tim Clark, President of Emirates told CNBC Friday. “I am one of these people that says it is hugely overpriced. If you are at $77 or $83 dollars (per barrel) it should be at $52. That’s where it needs […]

 

Hospitals sue to require drug pricing transparency in 340B | Healthcare Dive

Hospitals sue to require drug pricing transparency in 340B | Healthcare Dive

Dive Brief: Four industry associations sued HHS for the second time over its delay in adding regulations to the 340B Drug Pricing Program that would require pricing transparency for drug manufacturers and penalties for overcharging hospitals covered under the program. Filed by the American Hospital Association, the Association of American Medical Colleges, America’s Essential Hospitals and 340B […]

 

The New Nonprofit Pharmaceutical World: What’s Up with That? | Nonprofit Quarterly

The New Nonprofit Pharmaceutical World: What’s Up with That? | Nonprofit Quarterly

Civica Rx, a new nonprofit drug company based in Utah, is partnering with seven of the largest US hospital systems: Intermountain Healthcare, Catholic Health Initiatives, HCA Healthcare, Mayo Clinic, Providence St. Joseph Health, SSM Health, and Trinity Health. The coalition is investing in Civica’s ability to find creative solutions to tackle the devastating effects of […]

 

Massive storage, big screen, sleek design and more: Apple’s new range of iPhones for every user | The Economic Times

Massive storage, big screen, sleek design and more: Apple’s new range of iPhones for every user | The Economic Times

In past years, when Apple Inc. didn’t have a new iPhone design, it still had a breakthrough new feature: video recording in 2009, the Siri digital assistant in 2011, a fingerprint scanner in 2013, and 3D Touch in 2015. This year, Apple’s secret weapon isn’t a particular feature, but a clever pricing strategy and myriad […]

Lab-grown diamond producers question De Beers’ pricing strategy | Professional Jeweller

Lab-grown diamond producers question De Beers’ pricing strategy | Professional Jeweller

While De Beers says its strategy will eliminate customer confusion over lab-grown diamonds and their natural counterparts, some producers are crying foul. According to Bloomberg, the lab-grown industry has filed a complaint with the U.S. Federal Trade Commission, accusing De Beers of price dumping and predatory pricing. “De Beers aren’t stupid,” said Chatham chief executive […]

 

Apple introduces three new iPhones and Apple Watch Series 4: Live blog recap | MarketWatch

Apple introduces three new iPhones and Apple Watch Series 4: Live blog recap | MarketWatch

Apple Inc. launched three new iPhones on Wednesday during the company’s biggest event of the year, as well as a new Apple Watch. Apple introduced the iPhone XS Max, iPhone XS and iPhone XR models Wednesday during an event at the new Cupertino, Calif., headquarters of the world’s most valuable company. Apple AAPL, +2.73%  said […]

 

Craft Breweries Defy Convention By Beginning To Drop Prices | Forbes

Craft Breweries Defy Convention By Beginning To Drop Prices | Forbes

Founders Brewing is no stranger to the disruption business. The Michigan company not only pioneered the 15-pack of craft cans but was the first to perfect the now-ubiquitous session IPA style and release it on a national scale. So when co-owners Mike Stevens and Dave Engbers decided to break with craft brewing tradition in February […]

 

Private colleges are trying to attract students by matching public prices

Private colleges are trying to attract students by matching public prices

This fall, the trendy pricing strategy for private universities might just be matching public universities’ tuition. Two private universities unveiled price-matching programs over a span of five days at the end of August. First, Oglethorpe University in Atlanta announced a program under which it will match tuition sticker prices at a list of flagship universities […]

 

 

More Headlines

Fuel prices continue northward march, climb to new highs | Business Standard News

Fuel prices continue northward march, climb to new highs | Business Standard News

Elsewhere, petrol prices on Tuesday breached the psychological barrier of Rs 90 and touched a scorching Rs 90.11 in Maharashtra’s Parbhani – a new record in India. Similarly, diesel prices rose in Delhi and Kolkata to Rs 72.97 and Rs 75.82 per litre respectively, while it climbed to Rs 77.13 and Rs 77.47 per litre […]

 

Alumina pricing continue to surge as tensions mount in supply chain | Steel Guru

Alumina pricing continue to surge as tensions mount in supply chain | Steel Guru

Mr Andy Home wrote in Reuters that the CME cash contract, indexed against Platts’ assessment of the Australian price, is currently quoted at USD 626 per tonne, just shy of the record USD 643 seen at the start of May. Also in China, spot prices are at their highest since December last year. A walk-out […]

 

Forcing NJ Universities to Come Clean on All their Hidden Fees | NJ Spotlight

Forcing NJ Universities to Come Clean on All their Hidden Fees | NJ Spotlight

The cost of tuition at colleges and universities in the state is one thing. But many students are blindsided by extra ‘hidden’ fees and legislators are pushing for transparency College costs can be formidable, and families often get sticker shock when they realize they haven’t accounted for the many fees a school can apply. With […]

 

Are You Being Intelligent About Your Pricing? | Industrial Distribution

Are You Being Intelligent About Your Pricing? | Industrial Distribution

In today’s age of e-commerce, consumer-like buying behavior is increasingly seeping into B2B procurement. Buyers are constantly vetting their options – making sure they are getting the best price, at the best time, on the best products. It’s a reality that makes it important for distributors not only to know what their competitors are carrying, […]

 

Tickets for the Blazers’ Season Opener Against LeBron James’ Lakers Are Crazy Expensive | Willamette Week

Tickets for the Blazers’ Season Opener Against LeBron James’ Lakers Are Crazy Expensive | Willamette Week

The second-most expensive ticket for a non-Lakers game is against the reigning champion Golden State Warriors, on Dec. 29, are between $62-$431. For comparison, the Blazers’ second home game, against the returning LaMarcus Aldridge and the San Antonio Spurs, are $23 for the cheapest seats. The high prices for opening night are effectively the result […]

 

E-commerce price discrimination | Yahoo Finance

E-commerce price discrimination | Yahoo Finance

Shopping for clothes online has generally become a positive experience for consumers, as the saturated landscape drives retailers to offer everything from free shipping and returns to competitive pricing. But sometimes the advertised price does not apply to all sizes. While not a new practice, Yahoo Finance has discovered that more e-commerce players are pricing […]

 

Energy price cap could be a muddle that satisfies no one | The Guardian

Energy price cap could be a muddle that satisfies no one | The Guardian

Let’s be generous to the Ofgem chief, Dermot Nolan. He’s produced a respectable fudge, as he was told to. Parliament gave him the tricky job of setting an energy price cap at a level that prevents “rip-off” pricing but still encourages customers to switch suppliers, goals that pull in opposite directions. A figure of £1,136 […]

 

American Hospital Association suing HHS over delay in implementing drug pricing rule for 340B | Healthcare Finance News

American Hospital Association suing HHS over delay in implementing drug pricing rule for 340B | Healthcare Finance News

The American Hospital Association and America’s Essential Hospitals have joined five other 340B stakeholders in a lawsuit against the Department of Health and Human Services over its delay in implementing a final rule for drug pricing transparency that includes monetary penalties for overcharging. HHS has delayed implementation five times. Congress in 2010 gave HHS the […]

 

New dairy regulation won’t be a milk price panacea | The Australian Dairyfarmer

New dairy regulation won’t be a milk price panacea | The Australian Dairyfarmer

Dairy farmers have been warned not to expect the industry’s proposed mandatory code of conduct to trigger any obvious lift in prices negotiated between milk processors and retailers. After months of volatile debate, peak farmer body Australian Dairy Farmers has told the federal government it will offer unified support for a mandatory code for processor-farmer […]

 

Businesses fined for selling goods above MRP, not displaying prices | Borneo Bulletin Online

Businesses fined for selling goods above MRP, not displaying prices | Borneo Bulletin Online

TWO businesses were each issued a compound fine of BND500 for selling price-controlled goods above their maximum retail price (MRP), including cooking oil, formulated powdered milk, and rice, while another two businesses were issued warning notices for not displaying price tags during an inspection. The inspection was conducted in Kampong Tanjung Bunut and Sengkurong by […]

 

Is a taxi or Uber driver more likely to rip you off on the way to the airport? | MarketWatch

Is a taxi or Uber driver more likely to rip you off on the way to the airport? | MarketWatch

Uber drivers are not completely exempt from allegations that they’ve ripped off their passengers, however. The study found the drivers often seek out routes that are subject to surge pricing, Uber’s practice of increasing fares when there is high demand. They also occasionally tell the app that they’ve started a ride before a rider gets […]

 

There’s more to pricing than hard costs | Woodworking Network

There’s more to pricing than hard costs | Woodworking Network

Editor’s note: Years ago, James Falk shared with readers of Cabinetmaker magazine and members of the Cabinet Makers Association his pricing theories of pricing work using the term “soft variables” to describe things that often affect the cost of work but seldom are accounted for in bidding spreadsheets. Today, Falk has expanded on this concept […]

 

Why pricing matters | The Economic Times

Why pricing matters | The Economic Times

Alot of my research deals with dynamic pricing and how consumers respond to prices. Particularly, we look at data from firms and non-profits to understand how we can adjust prices over time, zones and products, and make the pricing policies palatable, better for consumers, improve consumer welfare and also make the firm better. As a […]

 

Consumer Reports: What to Know About Buying a Used Rental Car | NBC 5 Dallas-Fort Worth

Consumer Reports: What to Know About Buying a Used Rental Car | NBC 5 Dallas-Fort Worth

You’ve probably seen the promotions: used rental cars, low prices, big savings. “That low price can be attractive, and most rental companies do maintain their vehicles. But you still have to be a savvy consumer,” said Jon Linkov, Consumer Reports Auto Editor. Rental cars can rack up substantial miles. Hertz, Avis and Enterprise show mileage […]

 

Logistics startup brings transparency, efficiency to air cargo booking | AJOT

Logistics startup brings transparency, efficiency to air cargo booking | AJOT

Miami startup SkySpace Cargo released the world’s first air cargo trading platform to digitize booking transactions. The company is linked to more than 100 airlines to create a neutral environment for freight forwarders to price, book and manage cargo shipments. Price transparency has become the norm in most industries, but the logistics field has lagged […]

 

Politics heats up on fuel prices in poll-bound Rajasthan | Times of India

Politics heats up on fuel prices in poll-bound Rajasthan | Times of India

JAIPUR: The protest over rising petrol, diesel and cooking gas prices has sparked off a battle of words between the leaders of ruling and opposition parties in poll-bound Rajasthan. Chief minister Vasundhara Raje called the “Bharat Bandh” a drama by the Congress, while Pradesh Congress Committee president Sachin Pilot said the BJP leaders were insulting […]

 

Airlines seek ‘less transparency’ on price | Travel Weekly

Airlines seek ‘less transparency’ on price | Travel Weekly

Responding to testimony from airline association Iata, de Blust said: “Iata says the GDSs constitute a bottleneck. But then how could the Lufthansa Group add a distribution cost charge of €16 to its fares and it seems this didn’t affect Lufthansa sales – or, at least, it didn’t affect Lufthansa sales in those markets in […]

 

Cryptocurrencies bleed money as prices tumble by 25%, bitcoin below $6,500 | Money Control

Cryptocurrencies bleed money as prices tumble by 25%, bitcoin below $6,500 | Money Control

Major cryptocurrencies, including bitcoin, tumbled as much as 25 percent in late trade on Wednesday and continued to slide further in early trade on Thursday. In effect, many of the currencies touched their year lows in the last 20 hours. Bitcoin was down by about USD 1,000 in last 24 hours dropping below USD 6500-level, […]

 

U.S. Steel Workers Seek Payout From Trade War as Prices Rise | Bloomberg

U.S. Steel Workers Seek Payout From Trade War as Prices Rise | Bloomberg

Labor contracts with U.S. Steel Corp. and ArcelorMittal expired Sept. 1, but workers remain on the job as negotiations over wage increases continue. On Tuesday, U.S. Steel posted on its website a proposed six-year contract, offering workers guaranteed annual wage increases and a $15,000 pre-tax cash payment, including a minimum profit-sharing of $6,000 for the […]

 

Better Population Health Begins with Price Transparency | Medecision

Better Population Health Begins with Price Transparency | Medecision

Addressing the growing prevalence of chronic illness and continually rising costs in today’s U.S. health system isn’t easy. Fortunately, population health initiatives that aim to improve care quality while driving down the cost of care are changing the outlook. One increasingly urgent concern and key challenge that needs to be addressed is price transparency. Whether […]

 

The End Of The Oil Price Rally | OilPrice.com

The End Of The Oil Price Rally | OilPrice.com

Oil prices slipped this week as unexpected builds in gasoline inventories due to a drop in demand with driving season coming to an end. … Oil prices are set for their largest weekly loss since July, due to fears of emerging market contagion and some bearish data from the EIA. Mixed EIA report, oil prices […]

 

Rush to end drug rebates may be bad for patients, payers, and pharma | STAT

Rush to end drug rebates may be bad for patients, payers, and pharma | STAT

In a recent interview with Reuters, Azar said that the “question of rebates may very well be fundamental to the issue of how you reverse these constant incentives to higher list prices” for medicines. He believes that, because health plans and pharmacy benefit managers profit by keeping some of the rebates, they are happy to […]

 

Airlines raise baggage, change and seating fees as fuel prices surge | CNBC

Airlines raise baggage, change and seating fees as fuel prices surge | CNBC

Blankets, checked luggage, seat assignments, early boarding, Wi-Fi. Is there anything else airlines can charge passengers for? U.S. carriers began charging passengers to check their luggage about a decade ago, as fuel costs surged. Since then airlines started charging for other things, such as seat selection, which once came with the cost of a ticket, […]

 

Fort Collins will go to mandatory ‘time-of-day pricing’ for utilities next month | Denver7

Fort Collins will go to mandatory ‘time-of-day pricing’ for utilities next month | Denver7

FORT COLLINS, Colo. — Should what time of day you run your air conditioning or do a load of laundry impact the price? The city of Fort Collins thinks so. Starting next month, the city will go to a mandatory “time-of-day pricing” for city-run electricity. Think of it like the Uber for public utilities. Similar to […]

 

Seven Tips To Pricing Rental Property For Maximum Exposure And Consistent Income | Forbes

Seven Tips To Pricing Rental Property For Maximum Exposure And Consistent Income | Forbes

Whether you are converting your home into a rental property or investing in real estate for the benefit of passive income, you need to price your rent effectively in order to ensure minimal vacancy loss and maximum exposure to renters when you list for rent. The history of asking rent prices in the U.S. shows a steady […]

 

Drug price transparency driving healthier supply chains | PharmaTimes

Drug price transparency driving healthier supply chains | PharmaTimes

The pharmaceutical industry has long faced criticism from governments when it comes to drug cost transparency. This is hardly surprising when we’re seeing cost pressures on healthcare systems continuing to escalate worldwide, leading to ever-increasing pressure on pharma companies to be more transparent about the cost to research, develop and manufacture drugs. So, where exactly […]

 

Report: Prescription prices vary widely among pharmacies | WSTM

Report: Prescription prices vary widely among pharmacies | WSTM

In one example from Syracuse, a popular heartburn medication was sold at prices that ranged from a low of $189 to a high of $349. The report’s authors say the price disparities can cause big problems for people who don’t have prescription drug coverage. The report recommends that the state do a better job of […]

 

Sinemia and Choovie bring subscriptions and dynamic pricing to Australia | Film Journal International

Sinemia and Choovie bring subscriptions and dynamic pricing to Australia | Film Journal International

MoviePass has been getting a lot of press in the U.S. but so far has not arrived Down Under. That is not to say it will not come here, but some industry figures have their doubts. Because most major chains do not have competing cinemas in the majority of their cities and suburbs, there is […]

 

Adoption grows for Allscripts cutting edge Prescription Price Transparency Solution | Globe Newswire

Adoption grows for Allscripts cutting edge Prescription Price Transparency Solution | Globe Newswire

CHICAGO, Sept. 05, 2018 (GLOBE NEWSWIRE) — Allscripts (NASDAQ: MDRX), a global leader in healthcare information technology, is delivering comprehensive prescription price information directly into the clinicians’ workflow. Allscripts Prescription Price Transparency (PPT) empowers physicians and their patients with real-time comprehensive drug price information, at the point of patient care, designed to optimize the clinical […]

 

Hospitals are fed up with drug companies, so they’re starting their own | The Washington Post

Hospitals are fed up with drug companies, so they’re starting their own | The Washington Post

A group of major American hospitals, battered by price spikes on old drugs and long-lasting shortages of critical medicines, has launched a mission-driven, not-for-profit generic drug company, Civica Rx, to take some control over the drug supply. Backed by seven large health systems and three philanthropic groups, the new venture will be led by an […]

Price of unfair competition: Government needs to be wary of predatory pricing by e-commerce | The Financial Express

Price of unfair competition: Government needs to be wary of predatory pricing by e-commerce | The Financial Express

The government recently released the draft e-commerce policy, which attempts to regulate and control deep discounting by e-commerce players. While the structure of the draft has been criticised in some quarters, there is no denying that there is an urgent need for an e-commerce policy. Regulation is required as price distortions would have wide ramifications […]

 

 

Events and Resources

Webinar: Machine Learning & Data: The Latest Pricing Opportunity | PPS and Vistaar

Date: September 27, 2018

Time: 12:00 pm Eastern

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success. Good processes and experienced personnel are no longer enough. It is nearly impossible to rely on spreadsheets, custom software tools, and anecdotal experiences to properly manage the complexity of becoming a “data-driven business.” The good news?

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.

Please join Vistaar’s Director of Product Management, Dushyant Zutshi, in a new #PricingWebinar titled, “Machine Learning & Data: The Latest Pricing Opportunity” for a sneak peek of PPS Fall 2018 session content. Dushyant will discuss how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

Fall Pricing Workshops & Conference | PPS

Date: October 23-26, 2018

Location: Renaissance Dallas Addison Hotel in Addison, TX

Please make plans to join us and well over 450 of your peers for the best event anywhere. We will be in Dallas, TX,October 23-26, 2018.

Don’t miss out on the Early Bird Discount (When 2 people from the same firm register at the same time (item of equal or lesser value), the 3rd registrant can attend FREE of charge). Offer expires September 14th!

 

14th Annual PPS European & Global Pricing Conference & Workshops | PPS

Date: November 28-30, 2018

Location: Mövenpick Hotel Amsterdam City Centre in Amsterdam, Netherlands

The Professional Pricing Society team and I are very proud to announce that we will be returning to Amsterdam for our next great event – The 14th Annual PPS European & Global Pricing Conference & Workshops held 28-30 November.

Conference keynotes, breakout sessions, and networking opportunities highlight the conference day on 30 November; While 28-29 November will be used for workshop days to help you enhance your pricing knowledge.

 

This blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies.

 

Top Discussions

This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles.

 

Pricing News LinkedIn Group

Join over 5,000 of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

The following is a daily-dose of pricing cartoons, quotes, and videos enjoy…

 

 

“Pricing strategy always has been more of a poker game than a science.”

     – William T. Moran