Charlotte, NC, March 28, 2015 --(PR.com
)-- As pressure continues to mount on healthcare providers to defend their pricing and become transparent, more hospitals are turning to benchmarking tools to compare their prices and better align them within their community.
“It’s important for healthcare organizations to be transparent in their pricing strategy and methodology,” said Palmer Hamilton, Regional Vice President at PMMC. “PMMC ONLINE ANALYTICS is designed to help hospital financial staff as they structure pricing in light of market factors and payment rates, while they remain mindful of the facilities’ responsibility to fund current and capital needs to serve the local health care mission.”
Hospitals that have recently utilized ONLINE ANALYTICS include:
• Cibola General Hospital (Grants, N.M.)
• Newberry County Memorial Hospital (Newberry, S.C.)
• Pulaski Memorial Hospital (Winamac, Ind.)
• Tuomey Healthcare System (Sumter, S.C.)
The web-based tool allows healthcare providers to easily compare their charges at the local, state, and national level to make sure their prices are in line with their respective markets.
Although pricing data can be accessed through the Centers of Medicaid and Medicare (CMS), the large amount of raw data is often difficult to sort and analyze. Online Analytics converts the raw data from sources such as CMS into customized dashboards and reports that make it easier for financial executives to interpret.
Today, more than 200 hospitals across the U.S. use ONLINE ANALYTICS to gain the insight they need to make informed and strategic pricing adjustments.
PMMC provides industry leading revenue cycle solutions to more than 400 hospitals and 21,400 physician clients. By finding additional cash and creating more efficient workflow processes, PMMC helps healthcare providers improve their margins so they can focus on serving their patients. PMMC is a Microsoft-certified provider and earned the Healthcare Financial Management Association (HFMA) Peer Review designation for PMMC CONTRACT PRO and ESTIMATOR PRO solutions, meeting an objective third-party assessment of overall effectiveness, quality, and value. For more information, visit www.PMMConline.com.