Optimal package pricing in healthcare services

Tanwar, Tushar; Kumar, Uday; Mustafee, Navonil

doi:10.1080/01605682.2019.1654416

Cited by 14 publications

(7 citation statements)

References 26 publications

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“…The findings of a panel data analysis suggest a direct link between hospital prices and the cost of operations, which are in turn influenced by the level of capacity utilisation and demand variability. Tanwar et al (2020) devised a pricing model to determine the optimal price in the face of cost uncertainty. Ciliberto and Dranove (2006) utilised a fixed regression model to examine the impact of vertical integration on the pricing of privately insured patients.…”

Section: Discussionmentioning

confidence: 99%

Pricing of hospital services: evidence from a thematic review

Sirur,

Pillai K

2024

HEPL

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The management implications of pricing healthcare services, especially hospitals, have received insufficient scholarly attention. Additionally, disciplinary overlaps have led to scattered academic efforts in this domain. This study performs a thematic synthesis of the literature and applies retrospective analysis to hospital service pricing articles to address these issues. The study's inputs were sourced from well-known online repositories, using a structured search string and PRISMA flow chart to select the pertinent documents. Our thematic analysis of pricing literature encompasses: (a) comprehension of hospital service pricing nature; (b) pricing objectives, strategies and practices differentiation; (c) presentation of factors impacting hospital service pricing. We observe that hospital pricing is an intricate and unclear matter. The terms ‘pricing strategies’ and ‘pricing practices’ are often used interchangeably in academic literature. Hospital service pricing is influenced by costs, demand and supply factors, market structure, pricing regulation and third-party reimbursements. The study's findings provide policy implications for service pricing in hospitals, in addition to suggesting avenues for future research on hospital pricing.

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Section: Discussionmentioning

confidence: 99%

Pricing of hospital services: evidence from a thematic review

Sirur,

Pillai K

2024

HEPL

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“…In recent years, private health-care providers followed a fixed-price subscription model, wherein the health-care provider charged a fixed price for services rendered to patients during a financial year (Tanwar et al , 2019). This fixed price strategy was widely practiced in other industries, such as internet access (Odlyzko, 1999), information goods (Sundararajan, 2004) and telephone services (Mitchell, 1978).…”

Section: Discussionmentioning

confidence: 99%

“…The pricing problem is different for each category of health-care service provider – tertiary, secondary and primary care service providers. Limited literature is available on optimal pricing in health care (Tanwar et al , 2019). Some studies suggest fixing prices to maximize hospital profit and pruning resources (Dittman and Morey, 1981).…”

Section: Discussionmentioning

confidence: 99%

Pricing information asymmetry in healthcare: stakeholder analysis and research insights

Mishra,

Pandey

2023

IJPHM

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Purpose This study aims to map and analyze health-care pricing information research. This work highlights current gap in pricing information research in health care and proposes future research avenues to academia and industry professionals. Design/methodology/approach A bibliometric method was adopted to analyze extant literature on pricing information asymmetry. Semistructured interviews were conducted with key stakeholders in health care to triangulate the findings. Findings Pricing information is crucial for all stakeholders including health-care consumers, providers and regulators. The popular research areas were the rising health-care cost, cost-saving, outcome-based pricing, price based on service supply and demand, insurance and out-of-pocket spending. Cost–quality perceived linkages, cost–demand correlation in health-care service and cost–price interlinked drivers were the dominant themes in extant literature. The study highlighted that pricing information asymmetry pushed patients from weaker sections into a debt trap due to unplanned out-of-pocket health-care expenses. The study suggests areas of research to minimize this pricing information asymmetry. Practical implications The emerging themes in health pricing asymmetry will help key stakeholders to identify areas for improvement and take remedial actions in the health-care domain. Originality/value This study is a pioneering effort to summarize extant literature published in the health-care information pricing domain and analyze it from a bibliometric perspective. The study also triangulates the finding with primary data from key stakeholders and highlights emerging research areas.

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“…Healthcare service refers to the service that contributes to the improvement in a person’s health through preventing, diagnosing, treating, rehabilitating, and/or prescribing the cure of diseases and other mental and physical impairments in people [ 19 , 20 ]. It is not a product manufactured by healthcare institutions, but it is a service cocreated by professionals (physicians, nurses, medical staff, etc.)…”

Section: Conceptual Framework and Research Hypothesesmentioning

confidence: 99%

Drivers of Patients’ Behavioral Intention toward Public and Private Clinics’ Services

Ghali,

Garrouch,

Aljasser

2023

Healthcare

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In an era of growing competition in the healthcare market, adopting a patient-centered approach is mandatory for the survival and growth of any public or private hospital. This requires a better understanding of patients’ behavior and an increased focus on satisfying their needs and expectations. This paper was developed in this context and aims to study the main drivers of patients’ behavioral intentions. A conceptual model was proposed, highlighting the linkages between service quality, doctors’ reputation, patients’ trust, service value, and patients’ behavioral intentions. To examine the different research hypotheses, a quantitative study including 242 patients was conducted in Saudi Arabia using the convenience sampling method. The smart PLS approach was used to test the measurement and structural models. The findings indicated that trust and service value positively affected patients’ behavioral intentions. Trust in the healthcare provider was positively affected by two dimensions of service quality: healthcare provider concern and physician concern. Trust in doctors was found to be positively related to the reputation of the doctor. Service value was positively influenced by the convenience of the healthcare process, healthcare provider concerns, and doctors’ reputations. This study is original because it is among the few studies that investigate patients’ behavioral intentions toward healthcare services in a developing country (Saudi Arabia). Furthermore, it is among the rare studies to examine the role of doctors’ reputations in service values. The findings would offer meaningful implications for practitioners in the healthcare market for maintaining relationships with their patients.

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Optimal package pricing in healthcare services

Cited by 14 publications

References 26 publications

Pricing of hospital services: evidence from a thematic review

Pricing of hospital services: evidence from a thematic review

Pricing information asymmetry in healthcare: stakeholder analysis and research insights

Drivers of Patients’ Behavioral Intention toward Public and Private Clinics’ Services

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