SOURCE: Panacea Healthcare Solutions, Inc.

Panacea Healthcare Solutions, Inc.

October 17, 2013 08:35 ET

Panacea Healthcare Solutions Announces Availability of New Claims Data to Establish Defensible Hospital and Physician Transparent Prices

ST. PAUL, MN--(Marketwired - Oct 17, 2013) - Panacea Healthcare Solutions, Inc., a company specializing in provider coding, compliance, reimbursement and financial systems and services, today announced that it has hospital inpatient and outpatient claims as well as physician claims data by specialty and region through the period ending December 2012. With this information, providers can evaluate and improve the defensibility of their charge description master (CDM) pricing. This data, along with Panacea's innovative technology, custom peer group benchmarks, average or median medical/surgical or ICU room rates, can be developed and incorporated into pricing models.

"Providers continue to face intense scrutiny from state and federal governments, the press and the public, making it critical to have adequate tools and resources in place to establish rational and defensible prices. Panacea is proud that we can make this timely data available through our cloud-based technology, Hospital Zero-Base Pricing® and Comparative Hospital Data™ combined with our industry-leading consulting services. These tools facilitate the efficient and effective re-alignment of hospital chargemaster and physician chargemaster prices based on benchmarks and parameters that include customized peer group market data, actual unit cost, payor fee schedules, payor contract terms and more. With this hospital and physician strategic pricing approach each and every line item in our client CDM can be defended and documented while ensuring that net operating revenue is consistent with objectives," stated Frederick Stodolak, CEO at Panacea Healthcare Solutions, Inc.

Panacea's Hospital Zero-Base Pricing® received the coveted Healthcare Financial Management Association's (HFMA) Peer Review Designation this past June where Panacea's technology and services went through a rigorous review process by a panel designated by HFMA. Hospitals nationwide utilize Panacea's strategic pricing services and technology each year to re-align, update and maintain rational and defensible hospital and physician pricing and to perform "what-if" modeling before implementation and to utilize the technology for budgeting and look-back analytics.

For more information contact Mike Kennedy at mkennedy@panaceainc.com.

ABOUT PANACEA HEALTHCARE SOLUTIONS

Panacea Healthcare Solutions provides consulting, technology and publishing solutions to hospitals, physicians and other providers throughout the healthcare industry. The MedLearn Publishing division along with nationally recognized news publications ICD10monitor.com and RACmonitor.com provide hard-hitting news and information to more than 50,000 health information management (HIM), compliance and reimbursement professionals. Panacea also produces Monitor Monday and Talk Ten Tuesday, live internet broadcasts featuring interviews with leaders in the RAC, ICD-10 and HIM fields.

Contact Information

  • Contact:

    Mike Kennedy
    Senior Vice President
    Email Contact
    Telephone: 863.450.3233x702