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Due to the increasingcompetition to remain viable, health care service providers are finding itnecessary to undergo annual price reviews in order to optimize net revenues.There are two more reasons why hospitals are opting to analyze hospital datafor benchmarking analyses the transformation into consumer driven health careenvironment and the changes happening in government legislation. HPS (Hospital PricingSpecialists) from the year 1993 has been providing comprehensive hospitalpricing reports and consequently helping the health care service providers byproviding the custom hospital data on the basis of which the clients can choosespecific hospitals for pricing comparison at the HCPCS or MS-DRG levels.The hospital data,consisting of outpatient data, inpatient data, department level pricing,inpatient service line pricing, hospital room rates and hospital financial datais mission critical information for a hospital executive to monitor. HPS canprovide these types of crucial data after deriving them from CMS claims dataand Medicare cost reports within the time frame of just 48 hours.The researchers at HPSconsult the MEDPAR file for analyzing the inpatient record of any Medicarepatient who gets admitted in the hospital for the treatment of any ICDdiagnosis.MEDPAR is short forMedicare provider analysis and review. MEDPAR helps in analyzing the patternsand outcomes of a particular hospitals inpatient care by the length of stay ofpatients, their complications and prices. The MEDPAR records also contain thefinal action claims data in which all adjustments have been resolved.In order to choose theright medical service provider the consumers should be able to do accuratehospital price comparisons and HPS provides the detailed report for this. Thereports provided by HPS also help the medical service provider whether it is ahospital or a nursing home to have the information such as inpatient pricingand outpatient pricing.The health care medicalsystem becomes more cost effective and efficient based on the hospital pricecomparisons with hospital benchmarking. On the other hand consumers are alsoable to make accurate price comparisons with the help of strong medical data.The short name forOutpatient Prospective Payment System is OPPS. OPPS is a database made by CMSfor reimbursement of hospitals that provide outpatient services.This database has provedto be very useful for patients along with Centers for Medicare and Medicaidservice providers. It has been made mandatory for every CMS hospital to have aHospital Outpatient Prospective Payment System (OPPS). Implemented on August 1,2000, OPPS has helped in reducing the beneficiary co-payments to a largeextent.
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