# Achieve regulatory approval for pricing

*/Processes/Achieve_regulatory_approval_for_pricing*

Obtaining internal price approvals and governmental approvals that are required for licensed products and for products that can be reimbursed by the government.

## Digital Scalar

**Band**: digital
**Digital**: 0.85
**Rationale**: Since no child occupations are seeded, this score is derived from the process lens and description. The APQC lens 'Develop and manage marketing plans' combined with the task of 'Obtaining internal price approvals and governmental approvals' indicates pure knowledge work. The required activities—financial analysis, compliance documentation drafting, and regulatory correspondence—are entirely information-transformation tasks executed on computers, placing this firmly in the digital band.

## Process Profile

**Outcome**: The pricing structure is approved by internal committees and external regulatory bodies, allowing it to be implemented in the market.
**Trigger**: A new pricing strategy or price change for a regulated or reimbursable product is formally proposed by the commercial team.
**Key Steps**:
- Compile pricing rationale and supporting compliance documentation
- Conduct internal reviews and secure executive price approvals
- Submit pricing dossiers to relevant governmental or regulatory agencies
- Address agency inquiries and negotiate reimbursement or licensed rates
- Receive formal regulatory authorization
- Update master pricing systems and notify commercial stakeholders
**Measured By**:
- [Pricing Approval Cycle Time](/Metrics/Pricing_Approval_Cycle_Time)
- [First-Pass Approval Rate](/Metrics/First-Pass_Approval_Rate)
- [Submission Rework Rate](/Metrics/Submission_Rework_Rate)
- [Compliance Cost Per Submission](/Metrics/Compliance_Cost_Per_Submission)

## Boundary Of Firm

**Outsourced To**:
- [Regulatory Consulting Firm](/CompanyTypes/Regulatory_Consulting_Firm)
- [Actuarial Consulting Firm](/CompanyTypes/Actuarial_Consulting_Firm)
**Automatability**: assisted
**Routing Summary**:
- Rate filing assembly and data validation are automated by a rate filing management system, but the approval decision is reserved to the regulator and cannot be automated.
- Complex filings and jurisdiction strategy are outsourced to a regulatory consulting firm.
- Actuarial justification and regulator negotiation are kept in-house by regulatory affairs specialists and pricing actuaries.
**Delivered By Role**:
- [Regulatory Affairs Specialist](/Processes/Achieve_regulatory_approval_for_pricing/JobTypes/Regulatory_Affairs_Specialist)
- [Pricing Actuary](/Processes/Achieve_regulatory_approval_for_pricing/JobTypes/Pricing_Actuary)
**Asset Specificity**: specific
**Automated By Action**:
- [Compile Rate Filing](/Action/Compile_Rate_Filing)
- [Validate Filing Data](/Action/Validate_Filing_Data)
**Automated By Software**:
- [Rate Filing Management System](/Software/Rate_Filing_Management_System)
**Delivered By Department**:
- [Regulatory Affairs](/Processes/Achieve_regulatory_approval_for_pricing/Departments/Regulatory_Affairs)
- [Actuarial](/Processes/Achieve_regulatory_approval_for_pricing/Departments/Actuarial)

## Neighborhood

### Parent

- [Develop and manage pricing](/Processes/Develop_and_manage_pricing) — parent · Processes

### Siblings

- [Determine pricing based on volume/unit forecast](/Processes/Determine_pricing_based_on_volume%2Funit_forecast) — siblings · Processes
- [Execute pricing plan](/Processes/Execute_pricing_plan) — siblings · Processes
- [Evaluate pricing performance](/Processes/Evaluate_pricing_performance) — siblings · Processes
- [Refine pricing as needed](/Processes/Refine_pricing_as_needed) — siblings · Processes
- [Implement promotional pricing programs](/Processes/Implement_promotional_pricing_programs) — siblings · Processes
- [Implement other retail pricing programs](/Processes/Implement_other_retail_pricing_programs) — siblings · Processes
- [Communicate and implement price changes](/Processes/Communicate_and_implement_price_changes) — siblings · Processes
- [Determine corporate incentives](/Processes/Determine_corporate_incentives) — siblings · Processes
- [Understand resource requirements for each product/service and delivery channel/method](/Processes/Understand_resource_requirements_for_each_product%2Fservice_and_delivery_channel%2Fmethod) — siblings · Processes

### Industries where this operates

- [Cut and Sew Apparel Manufacturing](/Industries/Cut_and_Sew_Apparel_Manufacturing) — operates in · Industries
- [Automobile and Light Duty Motor Vehicle Manufacturing](/Industries/Automobile_and_Light_Duty_Motor_Vehicle_Manufacturing) — operates in · Industries
- [Building Construction](/Industries/Building_Construction) — operates in · Industries
- [Food And Beverage Manufacturing](/Industries/Food_And_Beverage_Manufacturing) — operates in · Industries
- [Truck Body and Trailer Manufacturing](/Industries/Truck_Body_and_Trailer_Manufacturing) — operates in · Industries
- [Automotive Parts Manufacturing](/Industries/Automotive_Parts_Manufacturing) — operates in · Industries
- [Audio And Video Equipment Manufacturing](/Industries/Audio_And_Video_Equipment_Manufacturing) — operates in · Industries
- [Ship Building and Repairing](/Industries/Ship_Building_and_Repairing) — operates in · Industries
- [Direct Life, Health, and Medical Insurance Carriers](/Industries/Direct_Life,_Health,_and_Medical_Insurance_Carriers) — operates in · Industries
- [Direct Insurance (except Life, Health, and Medical) Carriers](/Industries/Direct_Insurance_(except_Life,_Health,_and_Medical)_Carriers) — operates in · Industries
- [Textile Industry](/Industries/Textile_Industry) — operates in · Industries
- [Motor Vehicle Dealers](/Industries/Motor_Vehicle_Dealers) — operates in · Industries
- [Chemical Industry](/Industries/Chemical_Industry) — operates in · Industries
- [Hospitals and Health Care Facilities](/Industries/Hospitals_and_Health_Care_Facilities) — operates in · Industries
- [Agriculture, Forestry, Fishing and Hunting](/Industries/Agriculture,_Forestry,_Fishing_and_Hunting) — operates in · Industries
- [Depository Credit Intermediation](/Industries/Depository_Credit_Intermediation) — operates in · Industries
- [Aerospace Product and Parts Manufacturing](/Industries/Aerospace_Product_and_Parts_Manufacturing) — operates in · Industries
- [Administrative and Support and Waste Management and Remediation Services](/Industries/Administrative_and_Support_and_Waste_Management_and_Remediation_Services) — operates in · Industries
- [Educational Services](/Industries/Educational_Services) — operates in · Industries
- [Electric Power Generation, Transmission and Distribution](/Industries/Electric_Power_Generation,_Transmission_and_Distribution) — operates in · Industries
- [Electronics and Appliance Retailers](/Industries/Electronics_and_Appliance_Retailers) — operates in · Industries
- [Executive, Legislative, and Other General Government Support](/Industries/Executive,_Legislative,_and_Other_General_Government_Support) — operates in · Industries
- [Finance and Insurance](/Industries/Finance_and_Insurance) — operates in · Industries
- [Activities Related to Credit Intermediation](/Industries/Activities_Related_to_Credit_Intermediation) — operates in · Industries
- [Health Care and Social Assistance](/Industries/Health_Care_and_Social_Assistance) — operates in · Industries
- [Accommodation and Food Services](/Industries/Accommodation_and_Food_Services) — operates in · Industries
- [Information](/Industries/Information) — operates in · Industries
- [Leather and Allied Product Manufacturing](/Industries/Leather_and_Allied_Product_Manufacturing) — operates in · Industries
- [Management of Companies and Enterprises](/Industries/Management_of_Companies_and_Enterprises) — operates in · Industries
- [Manufacturing](/Industries/Manufacturing) — operates in · Industries
- [Manufacturing and Reproducing Magnetic and Optical Media](/Industries/Manufacturing_and_Reproducing_Magnetic_and_Optical_Media) — operates in · Industries
- [Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers](/Industries/Media_Streaming_Distribution_Services,_Social_Networks,_and_Other_Media_Networks_and_Content_Providers) — operates in · Industries
- [Medical Equipment and Supplies Manufacturing](/Industries/Medical_Equipment_and_Supplies_Manufacturing) — operates in · Industries
- [Medical and Diagnostic Laboratories](/Industries/Medical_and_Diagnostic_Laboratories) — operates in · Industries
- [Mining, Quarrying, and Oil and Gas Extraction](/Industries/Mining,_Quarrying,_and_Oil_and_Gas_Extraction) — operates in · Industries
- [Monetary Authorities-Central Bank](/Industries/Monetary_Authorities-Central_Bank) — operates in · Industries
- [Navigational, Measuring, Electromedical, and Control Instruments Manufacturing](/Industries/Navigational,_Measuring,_Electromedical,_and_Control_Instruments_Manufacturing) — operates in · Industries
- [Nondepository Credit Intermediation](/Industries/Nondepository_Credit_Intermediation) — operates in · Industries
- [Nursing and Residential Care Facilities](/Industries/Nursing_and_Residential_Care_Facilities) — operates in · Industries
- [Other Motor Vehicle Dealers](/Industries/Other_Motor_Vehicle_Dealers) — operates in · Industries
- [Other Services (except Public Administration)](/Industries/Other_Services_(except_Public_Administration)) — operates in · Industries
- [Other Transportation Equipment Manufacturing](/Industries/Other_Transportation_Equipment_Manufacturing) — operates in · Industries
- [Automotive Parts, Accessories, and Tire Retailers](/Industries/Automotive_Parts,_Accessories,_and_Tire_Retailers) — operates in · Industries
- [Petroleum Refineries](/Industries/Petroleum_Refineries) — operates in · Industries
- [Petroleum and Petroleum Products Merchant Wholesalers](/Industries/Petroleum_and_Petroleum_Products_Merchant_Wholesalers) — operates in · Industries
- [Pharmaceutical and Medicine Manufacturing](/Industries/Pharmaceutical_and_Medicine_Manufacturing) — operates in · Industries
- [Professional, Scientific, and Technical Services](/Industries/Professional,_Scientific,_and_Technical_Services) — operates in · Industries
- [Public Administration](/Industries/Public_Administration) — operates in · Industries
- [Radio and Television Broadcasting Stations](/Industries/Radio_and_Television_Broadcasting_Stations) — operates in · Industries
- [Real Estate and Rental and Leasing](/Industries/Real_Estate_and_Rental_and_Leasing) — operates in · Industries
- [Retail Trade](/Industries/Retail_Trade) — operates in · Industries
- [Scheduled Air Transportation](/Industries/Scheduled_Air_Transportation) — operates in · Industries
- [Scientific Research and Development Services](/Industries/Scientific_Research_and_Development_Services) — operates in · Industries
- [Semiconductor and Other Electronic Component Manufacturing](/Industries/Semiconductor_and_Other_Electronic_Component_Manufacturing) — operates in · Industries
- [Textile Product Mills](/Industries/Textile_Product_Mills) — operates in · Industries
- [Transportation and Warehousing](/Industries/Transportation_and_Warehousing) — operates in · Industries
- [Utilities](/Industries/Utilities) — operates in · Industries
- [Wholesale Trade](/Industries/Wholesale_Trade) — operates in · Industries
- [Paper Manufacturing](/Industries/Paper_Manufacturing) — operates in · Industries
- [Beverage and Tobacco Product Manufacturing](/Industries/Beverage_and_Tobacco_Product_Manufacturing) — operates in · Industries
- [Arts, Entertainment, and Recreation](/Industries/Arts,_Entertainment,_and_Recreation) — operates in · Industries
- [Ambulatory Health Care Services](/Industries/Ambulatory_Health_Care_Services) — operates in · Industries
- [Communications Equipment Manufacturing](/Industries/Communications_Equipment_Manufacturing) — operates in · Industries
- [Computer and Peripheral Equipment Manufacturing](/Industries/Computer_and_Peripheral_Equipment_Manufacturing) — operates in · Industries

### Problems this exposes

- [proposed price not stress-tested against the regulator's likely disallowances](/Problems/proposed_price_not_stress-tested_against_the_regulator's_likely_disallowances) — exposes problem · Problems
- [cost-of-service filing support assembled manually under tariff deadlines](/Problems/cost-of-service_filing_support_assembled_manually_under_tariff_deadlines) — exposes problem · Problems
- [approved-rate effective dates not propagated cleanly into billing systems](/Problems/approved-rate_effective_dates_not_propagated_cleanly_into_billing_systems) — exposes problem · Problems
- [regulator data requests during the rate case arriving faster than teams can respond](/Problems/regulator_data_requests_during_the_rate_case_arriving_faster_than_teams_can_respond) — exposes problem · Problems
- [Assembling The Rate Filing To Survive Regulator Objections](/Problems/Assembling_The_Rate_Filing_To_Survive_Regulator_Objections) — exposes problem · Problems

### Automated by

- [Rate Filing Management System](/Software/Rate_Filing_Management_System) — automated by · Software
- [Validate Filing Data](/Activities/Validate_Filing_Data) — automated by · Activities
- [Compile Rate Filing](/Activities/Compile_Rate_Filing) — automated by · Activities

### Outsourced to

- [Actuarial Consulting Firm](/CompanyTypes/Actuarial_Consulting_Firm) — outsourced to · CompanyTypes
- [Regulatory Consulting Firm](/CompanyTypes/Regulatory_Consulting_Firm) — outsourced to · CompanyTypes

### Delivered by

- [Pricing Actuary](/JobTypes/Pricing_Actuary) — delivered by · JobTypes
- [Regulatory Affairs Specialist](/JobTypes/Regulatory_Affairs_Specialist) — delivered by · JobTypes
- [Actuarial](/Departments/Actuarial) — delivered by · Departments
- [Regulatory Affairs](/Departments/Regulatory_Affairs) — delivered by · Departments