Pricing for Profitability

Pricing for Profitability
Medical Group Management Association logo on a black background

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The Medical Group Management Association (MGMA), the nation’s principal voice for the medical group practice profession, had been serving its growing membership with innovative, competitive and high-value products for over 80 years. Yet MGMA was looking for a new, organization-wide data-driven pricing strategy that could ensure ongoing value and growth.

In 2007, MGMA sought McKinley’s expertise to devise a pricing strategy to maximize non-dues revenue, provide guidelines across the organization that would enable it to be competitive in the marketplace, drive the product life cycle and ensure ongoing membership value.

VALUE TO CLIENT:

The key results from the project included a “product dashboard” that responded to the challenge of meeting member needs while balancing the core fiscal, strategic and operational needs of the organization. McKinley also developed a comprehensive pricing handbook and tools that continue to be used across the organization to ensure consistent and effective pricing.

In late 2010, MGMA re-engaged McKinley to conduct a comprehensive assessment of MGMA’s competitors, products and services and pricing. The project resulted in an updated objective picture of MGMA’s competitors, details on their offerings and recommendations to enhance MGMA’s pricing.

“The McKinley pricing project helped create a uniform pricing strategy for the association. The tools provide a systematic way to ask the right questions and develop pricing recommendations and rationale. They give staff the confidence to price correctly and support their decisions to senior management and the Board of Directors.”
Dana Guilfoyle
Former Vice President, Communications and Marketing