Moreover, the software flags exceptions to industry best practices and allows hospital staff to manage those exceptions rather than getting mired in complex details. It also enables staff to identify the exact sources of the problems and correct them before they become patterns of behavior within the charges. A much more efficient approach than correcting the same errors over and over again later, after claims have been denied or rejected. Plus the automated process allows providers to see losses of revenue that would be missed by traditional scrubbers.
“Just 12 months prior to adding the Craneware software we had a consultant check our chargemaster and we were told that it was in relatively good shape but what we found intriguing was that the consultants never talked about the things we were not charging for,” says Barry. “This software is doing a better job of identifying opportunities.”
Indeed automating their chargemaster has given their bottom line a boost—they’ve been able to identify more than a few opportunities over the last year.
I understand that financial leaders have a lot of cost-cutting measures on their minds and the supply chain offers the low-hanging fruit; however automating your chargemaster has the potential to unveil millions of dollars in reimbursement—it’s not low hanging fruit but I think you’ll find it’s a more ample harvest.