reference pricing

reference pricing

(prīs′ĭng)
A method of health care cost control in which the cost of all items in a class of roughly equivalent products or services is reimbursed at a fixed dollar amount. Patients or providers who seek care that is more expensive than the reference price pay additional fees. Those who agree to use standard services are reimbursed in full for the products or services they receive.
Medical Dictionary, © 2009 Farlex and Partners
References in periodicals archive ?
"The RETA study suggests that reference pricing potentially offers meaningful savings for purchasers in the United States," Commonwealth said in its review of the U.C.
This "false reference pricing" played "a major role in the companies' overall marketing and business strategies."
The introduction of reference pricing will aid in improving medicine affordability and accessibility, driving increased demand, while changes to medicine registration will reduce market access barriers.
They can benchmark pricing strategies of competitors, determine pricing trends globally, forecast potential price drops, gain knowledge about the impact of international reference pricing, and easily view standardized data.
Uwe Reinhardt, an economist at Princeton University who is popular with Democratic health policy watchers, talked about a three-track strategy: Supporting public hospitals, public clinics and public insurance programs for the poor; letting wealthy people pay whatever they want out of their own pockets for "boutique practice" care; and using "reference pricing" for middle-income people.
Nonetheless, the departments of Labor and Health and Human Services said the practice -- known as reference pricing -- could continue.
e OFT said the retailers conrmed their commitment to using genuine reference prices and - without any admission of liability - made changes to their reference pricing practices.
It found "systematic" examples of artificially inflated reference pricing within the industry, through the use of "was" prices formerly charged by the retailer, "after sale" prices that the trader intended to charge in the future, or recommended retail prices (RRPs) set by the manufacturer.
Employers also have begun to use "reference pricing" for health care services.
Reference pricing is largely used with pharmaceuticals, but 4% of those surveyed said that they use it for lab services and the same proportion do so for imaging.
T he 40-year era of annual iron ore benchmark prices appears to be over, with Vale agreeing a quarterly price with Japanese steel mills, and BHP Billiton saying the majority of its contracts are now based on shorter-term reference pricing. Steel Business Brie ing confirmed that Nippon Steel and Sumitomo Metal Indus- tries had agreed in principle to pay Vale some $100-110/ton fob for 65% Fe Itabira ines delivered in April-June.