ATLANTA, Dec. 1, 2015 /PRNewswire/ -- Craneware, Inc., the healthcare market leader in automated value cycle solutions, today announced the company will showcase a new version of its industry-leading Pharmacy ChargeLink® solution at the American Society for Health-System Pharmacists (ASHP) 2015 Midyear Clinical Meeting. The new features are focused on simplifying and streamlining the increasingly complicated process of monitoring and managing enterprise-wide pharmacy charges to ensure compliance and optimal revenue performance.
"With frequent pricing changes and new drugs always being added to the market, it is becoming increasingly difficult for provider organizations to stay on top of pharmacy charges, and many organizations wind up leaving significant revenue on the table," said Kathy Schwartz, Craneware AVP of Strategic Messaging and Solutions Owner. "The latest Pharmacy ChargeLink enhancements help simplify the complexity caused by such frequent pricing changes, especially for larger hospitals and health systems with multiple technology systems in place. These product updates also align with Craneware's overall value cycle strategy aimed at helping provider environments navigate the transition from fee-for-service to value-based reimbursement."
The new version of Pharmacy ChargeLink includes over a dozen new features that help ease billing professionals' workflow. New enhancements are designed to:
- Streamline importing processes, such as pre-defined file mapping for unique formulary fields found in specific EHRs including Epic's Willow and Cerner's Pharmnet®. Pharmacy ChargeLink is able to identify and address specific billing and compliance issues found in these clinical workflow systems.
- Enhance support for organizations billing under the 340B Drug Pricing Program, Wholesale Acquisition Cost (WAC) and group purchasing organization (GPO) accounts.
- Help billing professionals prioritize high impact cost variances and other revenue areas affecting financial performance.
- Ease development of new and existing pharmacy pricing policies.
"Pharmacy ChargeLink has given us the confidence that we're billing and being reimbursed properly," said Jennifer Carmody, Director of Reimbursement Services at Billings Clinic. "We're excited to use these new features to further simplify our pharma coding and charge capture processes and create a competitive and defensible pricing strategy."
Craneware's Pharmacy ChargeLink helps hospitals more effectively manage costs, confirm pricing policies and improve margins. Pharmacy ChargeLink automatically validates all pharmacy data, giving stakeholder departments a shared platform to ensure administered medications are accurately coded, billed, and reimbursed at an optimal level. By continuously updating and synching purchase history, formulary, chargemaster and regulatory reference information, Pharmacy ChargeLink helps hospitals address revenue gaps and ensure optimal reimbursement and compliance.
Craneware (AIM: CRW.L) is the leader in automated value cycle solutions that help provider organizations discover, convert and optimize assets to achieve best clinical outcomes and financial performance. Our solutions normalize disparate data sets, bringing in up-to-date regulatory and financial compliance data to deliver value at the points where clinical and operational data transform into financial transactions, creating actionable insights that enable informed tactical and strategic decisions. Learn more at Craneware.com.
SOURCE Craneware, Inc.