"% lost due to price" is a loaded metric for complex service providers operating in competitive industries. You rarely bid on a truly apples to apples basis against your competitors, nor should you- prospects are coming to you because you have more expertise in providing solutions to their problems than they do, so your prospects should be receiving quotes reflecting a variety of approaches.
So a loss due to price typically has more to do with poor strategy, lack of understanding customer objectives, and one size fits all solutions than it does your rates for certain line items being higher. "Price" is also a convenient way to say the prospect was never that interested in the first place, and you were invited so they could meet their SOP requirements that RFPs go to 5 bidders.
It's not meaningless, but I would only pay attention to it if you saw the metric spanning multiple customers types, across opportunities from multiple sales teams, over multiple months or quarters.
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