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Allocating global package pricing. The example of bypass surgery
1Milton S. Hershey Medical Center, PA, USA.
Medical Group Management Journal
|December 9, 1995
Summary
Distributing new physician payment rates equitably is challenging. Package pricing models require cost justification and negotiation, necessitating robust economic models for fair business decisions.
Area of Science:
- Health economics
- Healthcare management
- Physician compensation
Background:
- Equitable distribution of changing physician payment rates is a significant challenge for healthcare organizations.
- Package pricing, where practitioners justify fees and negotiate allocations, is a proposed solution but lacks practical examples.
Purpose of the Study:
- To outline the development of successful package pricing models for physician compensation.
- To introduce an economic model that supports practice business decisions regarding marginal production opportunities.
Main Methods:
- Determining actual practice costs.
- Analyzing historical charge and payment patterns.
- Incorporating Medicare payment rates into the model.
Main Results:
- The study proposes a framework for creating equitable physician compensation models.
- It emphasizes the need for economic models to guide business decisions in healthcare practices.
Conclusions:
- Successful package pricing requires a comprehensive economic model.
- This model should facilitate informed business decisions benefiting all parties involved in physician compensation.
