Patent ID: 7565300

Claim:
A computer-assisted method of hierarchical pricing, said method comprising the steps of: a. creating a hierarchy comprising a plurality of groups, each said group having at least one procedural code that corresponds to a chargeable item; b. for each group, sequentially ordering said procedural codes in said group in a first sequential order that provides a comparative value for each of said chargeable items relative to said other chargeable items in said group; c. for each group, assigning a ranked character to each said procedural code that symbolizes said first sequential order, wherein each said ranked character is derived from a scale having a total population equal to the total number of procedural codes comprising said group; d. searching said hierarchy for a selected procedural code; e. identifying all related procedural codes in said group to which said selected procedural code is assigned; f. performing a computer-assisted search of a healthcare providers chargeable item database to identify all of said procedural codes in said group to which said selected procedural code is assigned; g. sequentially, by a computer, ordering said procedural codes identified in said chargeable item database in a second sequential order according to price; h. comparing, by a computer, said first and second sequential orders; and i. updating, by a computer, a price of said chargeable items in said chargeable item database having said identified procedural codes to price said chargeable items according to said first sequential order.