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Pricing medical services and products

Pricing medical services and products. Melvin D’lima Business advisor to Doctors and entrepreneurs Wealth in Healthcare Because every Doctor needs to practice profitably. Why Bother?. Somebody else will climb that mountain for you. Who sets your fees. Regulatory bodies Private hospitals

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Pricing medical services and products

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  1. Pricing medical services and products Melvin D’lima Business advisor to Doctors and entrepreneurs Wealth in Healthcare Because every Doctor needs to practice profitably 42nd KMA Scientific conference, Watamu

  2. Why Bother? 42nd KMA Scientific conference, Watamu

  3. Somebody else will climb that mountain for you 42nd KMA Scientific conference, Watamu

  4. Who sets your fees Regulatory bodies Private hospitals Insurance companies Other third party payers ?You Those who don’t play the game should not make the rules 42nd KMA Scientific conference, Watamu

  5. Pricing medical services and products What: Calculation of how much to charge the patient When: Before you start private practice. Really? Why: To be profitable and ensure growth of your service and product delivery How? 42nd KMA Scientific conference,Watamu

  6. You and your lifestyle What expenses do you need to cater for every month? What is it worth/What does it cost you to maintain yourself, your family and your business? How much do you wish to save/invest That is what you need to be making every month 42nd KMA Scientific conference, Watamu

  7. Pricing products Sale price = Cost price + profit Cost price variables Manufacturer price Transport Taxes Profit variables Supply and demand Price controls Vendor targets 42nd KMA Scientific conference, Watamu

  8. Pricing services Classification of services Outpatient consultations Investigations In patient consultations In patient procedures and surgery Maintenance services - Physiotherapy/OT/Counselling/Etc The end game of all OP services should be to convert Outpatients into regular wellness clinic attendees or into In-patients. 42nd KMA Scientific conference,Watamu

  9. Price setting strategies Market or competitive pricing Regulated pricing Cost plus pricing Discount and promotional pricing Differentiated pricing Bundled pricing Volume pricing 42nd KMA Scientific conference, Watamu

  10. Break even analysis and pricing 42nd KMA Scientific conference, Watamu

  11. BUSINESS SKILLS TRAINING FOR PRIVATE DOCTORS BY AMREF/ACA www.africacapacityalliance.org When? 29th April 2014 – 30th May, 2014 Classroom session conducted from April 29th, 2014 to May 1st, 2014 Where? AMREF Training Centre, Nairobi, Kenya (3 days) Contacts. Lucy Nkirote/ Carol Maringa : +254 2 263 5938; +254 734 999975; +254 724 255849 (quote Dr Melvin D’lima) Short term Financing available (contact me) 42nd KMA Scientific conference, Watamu

  12. Which way forward ? 42nd KMA Scientific conference,Watamu

  13. Price =Value? 42nd KMA Scientific conference, Watamu

  14. Acknowledgments Deb Laurel, Madison, Wisconsin Africa Capacity Alliance SHOPS/Bunyan group Wealth in Healthcare Cell:0720297433 Email: melvin@wealthinhealthcare.co.ke 42nd KMA Scientific conference,Watamu

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