Today we rolled out a new pricing model for myTIPreport subscriptions. This is the first time that we’ve changed the pricing model, and correspondingly raised prices for most accounts, since we started 6 years ago.
Motivation For Change
Before we discuss what’s different, let’s cover the flaws in the previous pricing model that motivated making a change:
- Subscriptions for very small fellowships were too expensive, especially when compared to large residency programs. On a per-learner basis, the largest residency using myTIPreport was paying 20x less than the smallest fellowship.
- The old pricing model didn’t account well for larger residencies. We classified any residency with more than 32 residents as an “Extra Large Program” and charged them the same amount. While that made sense for Ob/Gyn residencies (since they tend to be smaller), as we’ve moved into other specialties we’re seeing drastically larger programs. That led to oddities in pricing like the one mentioned in #1.
- Departmental pricing wasn’t straight-forward and it wasn’t clear when a department should consider moving to the departmental plan.
- We haven’t raised prices in 6 years. Over those same 6 years the myTIPreport product has improved dramatically. Thus the cost of supporting myTIPreport has increased as functionality has.
Principles
In trying to come up with a better pricing model, we tried to maintain these principles:
- Continue to make myTIPreport affordable for everyone. When we set out 6 years ago, one of our key core tenants was that our software shouldn’t be limited only to the institutions and programs with deep pockets and we still hold to that today. The new pricing model still provides great value for the service provided and shouldn’t strain a program’s budget.
- Keep it simple and predictable. Pricing should be straight-forward and choosing the right subscription plan should be easy. Further, price increases should be predictable.
- Reward the customers who’ve come on this journey with us. As we roll out the new pricing model, we want to reward our earliest adopters - recognizing their contribution to our success. For the next few years, we’ll be giving loyalty discounts for the programs that are most affected by these price changes.
New Pricing Model
Given everything above, here are the details of what has changed.
- Prices are now determined on a per-learner basis. This means the cost for some of the smallest fellowships will decrease while the larger residencies will see the largest price increases. The cost for a single program 12-month subscription is now $120 per program + $30 per learner. Unlimited faculty members and administrators are included in that price.
- Department plans will follow a similar structure. The cost for a 12-month department subscription is $350 for the department + $30 for each resident and fellow.
- Prices will increase roughly 3% each year. This will allow us to continue to invest in the product and make it easy to budget for the future.
If you’re an existing customer, visit the Billing and Invoices section in your admin panel to see how the cost of your subscription will change in the future, as well as any applicable loyalty discounts. If you’re a new customer, you can visit the home page and use new the pricing calculator.
Concerns?
If you have concerns about costs going up, whether it’s related to budget planning or COVID-related spending freezes, please reach out to us at [email protected]. We’re more than happy to work with you to make sure myTIPreport stays affordable for everyone.