SOURCE: Panacea Healthcare Solutions, Inc.

Panacea Healthcare Solutions, Inc.

November 05, 2015 08:00 ET

Panacea Launches ComparativeHealthData.com to Aid Hospitals in Developing Competitive Transparent Pricing

New Cloud-Based Tool Includes Charge Data for Over 5,000 Hospitals and 30,000 Plus Physician Medical Offices and Freestanding Facilities

ST. PAUL, MN--(Marketwired - November 05, 2015) - Panacea Healthcare Solutions, Inc., a leading provider of consulting, technology and publishing services to thousands of healthcare providers nationwide, today, announced that it has launched ComparativeHealthData.com, a cloud-based tool that will assist hospitals, physicians, and other healthcare organizations in developing rational and defensible prices as part of their overall transparent pricing strategy.

Users can easily create custom market groups or clinical groups and access average charge and other data by HCPCS and CPT code along with Room and Board rates and Drug, Medical Supply and other charge-to-cost mark-up data. Unlimited peer groups can be created from a database based on recent claims from more than 5,000 hospitals and 30,000 plus Physician medical offices and freestanding facilities such as Ambulatory Surgery Centers, Independent Labs, Imaging Centers and more.

Panacea's Chief Executive Officer, Frederick Stodolak stated, "This online system provides the most important first step a healthcare provider requires to determine a rational and competitive charge for its services by allowing for the creation of custom market peer groups and further allowing hospitals to not only review its own current charges in comparison to other area hospitals, but also to the ever-increasing and lower cost freestanding providers they compete with."

The system also displays the competitor or other peer group hospital names and features an outlier screening tool that allows the user to improve the statistical validity of the data by screening out outlier data at the HCPCS / CPT code level based on user defined criterion.

Other features include a price look-up tool where users can type in a procedure name to find the average charge for a custom peer group or type in the HCPCS or CPT code if known. Reports can be exported to excel.

The system also exports seamlessly the developed peer group benchmarks for use in Panacea's popular Hospital and Physician Base Pricing systems to perform sophisticated what-if gross and net revenue modeling.

If you would like more information on how you can obtain a report or access to the entire national data set, or if you need assistance with establishing more rational, defensible, and competitive charges, please contact Carrie Donzella at cdonzella@panaceainc.com or register here.

ABOUT PANACEA HEALTHCARE SOLUTIONS, INC.

Panacea Healthcare Solutions, Inc. provides coding, compliance, reimbursement and revenue solutions delivered through our consulting, software, publications and webcasts to more than 4,000 U.S. providers. 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.

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Contact Information

  • MEDIA CONTACT
    Carrie Donzella
    Corporate Marketing Director
    Email contact
    800.252.1578 x3722