ATLANTA, July 29, 2013 /PRNewswire/ -- Hospitals
continually struggle to incorporate coding, charging, and pricing
for new high-value supplies, such as surgical implants and devices,
into the chargemaster quickly and accurately, but the manual data
management processes most hospitals employ can lead to
inefficiencies, significant revenue leakage, and major compliance
risk. In order to address this costly problem, Craneware, Inc., the
market leader in automated revenue integrity solutions, today
introduced an update to its leading Supplies ChargeLink®
solution. The new Supplies Assistant functionality provides an
automated search function that enables staff to quickly research
and identify up-to-date Healthcare Common Procedure Coding System
(HCPCS) codes for new high-value supplies to ensure compliant and
accurate supply charge data.
(Logo: http://photos.prnewswire.com/prnh/20121221/CL33999LOGO
)
In addition to improving efficiency and accuracy in assigning
HCPCS codes to new supply items, Craneware's Supplies ChargeLink
also allows compliance professionals to prioritize and analyze
codes for line-item review based on value potential to mitigate
audit risk, and reduce underpayments and denials. Supplies
ChargeLink also facilitates communication in hospitals across
traditionally siloed stakeholders about any missing or questionable
supply codes.
"Today's healthcare landscape offers hospital and health system
leaders the opportunity to advance their organizations' initiatives
to improve financial performance and reduce compliance risk," said
Craneware CEO, Keith Neilson. "With
new supplies entering hospitals every day, incorrect charge data
and coding lead to costly compliance risk and significant revenue
leakage. Craneware is dedicated to continually enhancing our
industry-leading solutions to meet the needs of the healthcare
industry, and these new enhancements to our Supplies ChargeLink
solution are a testament to this commitment."
To learn more about how hospitals and health systems can
proactively work towards achieving revenue integrity and to view
demos of Craneware's industry-leading revenue integrity solutions,
including the # 1 in KLAS* Chargemaster Toolkit® and
Bill Analyzer, as well as Online Reference Toolkit® and
Craneware's Pharmacy ChargeLink® and Supplies
ChargeLink®, visit Craneware's booth, #317, at AHRMM's
51st Annual Conference & Exhibition in San Diego, July 28-31,
2013.
About Craneware
Craneware (AIM: CRW.L) is the leader
in automated revenue integrity solutions that improve financial
performance for healthcare organizations. Craneware's
market-driven, SaaS solutions help hospitals and other healthcare
providers more effectively price, charge, code and retain earned
revenue for patient care services and supplies. This helps
customers optimize reimbursement, increase operational efficiency,
minimize compliance risk, and retain more earned revenue. By
partnering with Craneware, clients achieve the visibility required
to identify, address and prevent revenue leakage. To learn more,
visit craneware.com and stoptheleakage.com.
*Chargemaster Toolkit® is ranked No. 1 in the Revenue
Cycle – Chargemaster Management market category for the seventh
year in a row (2006 – 2012), and Bill Analyzer is ranked No. 1 in
the Revenue Cycle – Other market category the second year in a row
(2011 – 2012 ) in the "2012 Best in KLAS Awards: Software &
Services" report, published December
2012. Data © 2012 KLAS Enterprises, LLC. All rights
reserved. www.KLASresearch.com
SOURCE Craneware