Pricing Philosophy
In order to deliver a full range of high quality healthcare services to Southwest Georgians, our organization must be financially strong. A positive operating margin creates funding for Phoebe to reinvest in the people, technology and space necessary to provide the healthcare and community services the citizens of this region deserve.
We re-examine pricing for our services at least annually through a comprehensive internal and external assessment. We compare ourselves to our local, regional and national peers to ensure our prices are within industry norms. We must also consider unique market demographics such as high percentages of Medicaid, indigent and charity patients for whom the reimbursement we receive often does not cover our costs to provide care. In addition, we utilize the annual U.S. Department of Labor’s Consumer Price Index (CPI) for Hospital and Related Services. The CPI provides national data on healthcare price increases we can compare to Phoebe’s pricing. Where possible we reduce prices that are particularly patient sensitive or offer the services at a lower price point in a lower cost setting.
Our goal is to arrive at a pricing structure that is competitive among our regional and national peers with sensitivity to patients, enables Phoebe to offer the services our community needs close to home, funds capital to invest in medical technology and training, provides Phoebe the ability to offer competitive compensation for our workforce and supports our vision to make every life we touch better.