ATLANTA, April 22, 2014 /PRNewswire/ -- Hospitals and
health systems can experience huge revenue losses from common
oversights in pharmacy revenue cycle. To have confidence in their
data integrity and charge capture process, hospitals must validate
that their pharmacy data is compliant, correct and complete before
billing. Today, Craneware, Inc., the healthcare market leader in
automated revenue integrity solutions, announced new features for
its supply management solution, Pharmacy
ChargeLink®, which empowers hospital management to meet
changing payor requirements, better account for drug expenditures,
and more efficiently manage competitive pricing, accurate charging
and the compliant billing that can avoid the operational expense of
dealing with audits, denials and lost reimbursement.
One of the new capabilities announced today in the software is
Worklist functionality, which simplifies the hospital-pharmacy
business process for improved productivity and efficiency. The
Worklist prioritizes action items by achievability, identifying the
stakeholder role to manage each item to tackle pharmacy charge
issues with the highest compliance risk and revenue value.
"Craneware is committed to helping hospitals and health systems
achieve revenue integrity, and pharmacy is one of the most
significant revenue and compliance opportunities for automation to
benefit healthcare today," said Keith
Neilson, Craneware CEO. "With more than a decade of
experience in working with leading health systems across the
country, Craneware has deep insight into the needs, priorities and
best practices of hospitals of all sizes. The new enhancements to
Pharmacy ChargeLink embed those best practices into health systems'
daily process to ensure optimal accuracy, efficiency and value for
pharmacy reimbursement."
Other new features to Pharmacy ChargeLink include:
- Benchmark pricing so hospitals can price more
competitively by comparing drug prices across their organization
and with the pharmacy prices of other hospitals in the market.
- Dose differentiation automatically identifies which
drugs are single-dose versus multi-dose, to help validate the
varied units-of-measure allowable for drugs when purchased,
administered and for compliant billing.
- Interface enhancements, such as optimized data layout
and tab features, streamline the user role so results can be
generated on the fly.
"With Craneware's Pharmacy ChargeLink we are confident that
we're being efficient in capturing appropriate pharmacy NDCs and
reimbursement," said Manager of Pharmacy Program Durwin Logan,
Effingham Hospital in Georgia.
"Pharmacy ChargeLink helps us gain greater visibility into the
pharmacy revenue cycle, and automate what would otherwise be a very
manual, labor-intensive process, so we're excited about these new
enhancements to further strengthen our pharmacy billing
methods."
Pharmacy ChargeLink is part of Craneware's Supply Management
product family. Craneware Revenue Integrity Solutions®
span four product families, with the other three being: Audit &
Revenue Recovery, Revenue Cycle, and Access Management &
Strategic Pricing. Craneware developed the industry's first
effective chargemaster management solution, Craneware's
Chargemaster Toolkit®, which has ranked number
one in the KLAS Revenue Cycle – Chargemaster Management market
category for the past eight years.
To learn more about how hospitals and health systems can
proactively work towards achieving revenue integrity through
improved supply chain data management, visit craneware.com and
revenueintegrityjourney.com.
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 optimizes
reimbursement, increases operational efficiency and minimizes
compliance risk. By partnering with Craneware, clients achieve the
visibility required to identify, address and prevent revenue
leakage. To learn more, visit craneware.com and
revenueintegrityjourney.com.
*Chargemaster Toolkit® is ranked No. 1 in the Revenue
Cycle – Chargemaster Management market category for the eighth year
in a row (2006 – 2013), and Bill Analyzer is ranked No. 1 in the
Revenue Cycle – Charge Capture market category the third year in a
row (2011 – 2013 ) in the "2013 Best in KLAS Awards: Software &
Services" report, published January
2014. Data© 2014 KLAS Enterprises, LLC. All
rights reserved. www.KLASresearch.com
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SOURCE Craneware