Case Study: TRC Insights achieves optimal pricing for 200+ medical procedures with Greenbook’s MDS and conjoint analysis

TRC Insights prices 200+ medical procedures correctly with Greenbook

TRC Insights, a healthcare provider, faced the challenge of determining the price elasticity for over 200 medical procedures. Their goal was to accurately disclose pricing so consumers could shop for healthcare services, but individual research on each procedure was deemed too costly and time-consuming. The vendor Greenbook was engaged to help solve this challenge using their research and analytics services.

Greenbook implemented a proprietary solution using Multi-Dimensional Scaling (MDS) to group procedures, which was followed by a conjoint analysis with 10,000 consumers. This approach resulted in a robust pricing simulator that allowed TRC Insights to determine optimal pricing across all procedures. The client successfully developed a new pricing strategy that incorporated the consumer perspective.

TRC Insights