Price Advantage GlobalStar has a pricing analytics tool called “Price Advantage”. Price advantage is web based software suite designed to optimize Net Revenue while remaining true to Hospital business objectives, strategies and goals. The tool has been in production at a handful of accounts for over a year with quantifiable results increasing net revenue gains by the millions of dollars and supporting first year ROIs of over 300%.
Ways in which Price Advantage can increase revenue: Advanced mathematical modeling, utilizing a proprietary customizable rules engine, allows our product to create pricing transparency for every charge Allows your organization to reach its financial goals with defensible charges Ensures rational pricing based on your specific market data Unique Service Support Software allows your organization to target Peer and Competitor market data at the Charge Code, Department & Entire CDM levels Allows for fully customizable market data at the State, Region and National level using our patent pending process Creates detailed Gross and Net revenue reports at the Charge Code, Department, Service Line and Payer levels Uses price relationships to create the proper association between Charge Codes Service Supported Software allows for multiple iterations and scenarios allowing your organization to assess, select, and validate final implementation
Our Customer's Results: Medical Center in Texas $983M GPR, 431 beds One year $2M incremental net rev gain 10 year contract
Health System in Florida $2.3B GPR, 1,362 beds One year $9.8M incremental net rev gain 3 year contract
Community Hospital in Colorado $168M GPR, 80 beds $1.2M incremental net rev gain 10 year contract
Hospital in North Carolina $230M GPR, 110 beds One year $2.2M incremental net rev gain 10 year contract