Executives from University Medical Center Health System and Craneware to Present Educational Session Showcasing Benefits of Revenue Integrity Model at HFMA ANI 2012
Craneware Executives to Also Host Series of Speaking Engagements in Company Booth, Highlighting Trends in Audits, Pricing, Supplies Integration
ATLANTA, June 21, 2012 /PRNewswire/ -- Craneware, Inc., the market leader in automated revenue integrity solutions, today announced that it has been selected to lead an educational session at ANI: Healthcare Financial Management Association's (HFMA) National Institute 2012. Craneware's Professional Services Manager Michael Najera , and Craneware's client, Micky Allen , director of revenue integrity for University Medical Center (UMC) Health System will give a presentation that describes how UMC implemented an enterprise-wide revenue integrity model to achieve substantial revenue improvements.
The presentation, titled "University Medical Center Uses Revenue Integrity Culture to Improve Revenue and Payer Mix," will be held on Monday, June 25 at 10:00 a.m. During this presentation, Allen and Najera will explain how moving to a revenue integrity approach allowed UMC to increase its gross revenue across all clinical departments by 100%, enhance electronic charge capture and improve its Medicare case mix by seven percent for a four-to-one ROI. The two industry experts will share proven best practices for improving revenue cycle processes through the implementation of workflow technology and the execution of a holistic revenue integrity model.
"At UMC, we were able to meet our goal of providing superior patient care at affordable prices while operating at a profit by shifting our orientation from siloed revenue cycle management to an enterprise-wide revenue integrity approach," said Allen. "Working with Craneware, we implemented a closed-loop model for key revenue functions, and found that by establishing a strong, collaborative connection between clinical initiatives and charge capture updates, we were able to achieve accurate documentation for charging, billing, coding and denials. It is my hope that after hearing our presentation, attendees will be able to take some of our lessons learned and implement them at their own organizations to achieve optimized financial performance."
"One of the key takeaways that I hope attendees understand from our presentation is that excellence doesn't happen by accident, it happens by design," said Najera. "We worked with UMC to 'design' this excellence by creating a culture where the entire organization, from registration through billing, was dedicated to performance improvement. At Craneware, it is our mission to stop revenue leakage by establishing a culture of revenue integrity in healthcare organizations, and UMC is a great example of the clinical and financial benefits that revenue integrity enables."
Additionally, Craneware thought leaders will be conducting a series of instructive sessions at the company's booth (# 616) during the conference. Specifically, experts will lead the following sessions:
- Monday, June 25
- 12:30 p.m.– "Top issues that leave you open to RAC take-backs and how to prevent them" (led by Karen Bowden , RHIA, senior vice president of Consulting, Craneware)
- 4:30 p.m. – "Managing your facilities' pricing year 'round" (led by Michael Najera )
- Tuesday, June 26
- 12:30 p.m. – "Use best practices to set up revenue integrity programs focused on charge capture" (led by Kelley Blair , MAOL, senior vice president of Professional Services and Sales Support, Craneware)
- 4:30 p.m. – "Understanding why integrating pharmacy and supplies into your revenue integrity program is important" (led by Brooke Biloski , professional services manager, Craneware)
Craneware Revenue Integrity Solutions™ span four product families: Audit & Revenue Recovery, Revenue Cycle, Supply Management, and Access Management & Strategic Pricing. Craneware developed the industry's first chargemaster management solution, Craneware's Chargemaster Toolkit® has ranked number one in the KLAS Revenue Cycle – Chargemaster Management market category for the past six years. In 2011 Craneware's Bill Analyzer achieved number one ranking in the KLAS Revenue Cycle – Other market category.
To participate in one of the Craneware booth sessions or receive product demos, visit the company at ANI (booth #616) at the Mandalay Bay Resort and Convention Center in Las Vegas. ANI will take place June 24-27, 2012.
About University Medical Center Health System
UMC Health System is the leader in comprehensive healthcare delivery in West Texas and Eastern New Mexico. More than 300,000 patients a year have come to expect our dedication to service and the top-tier care we provide. Through UMC's partnership with Texas Tech University, the health system produces groundbreaking research and innovative technology, including a number of nationally recognized clinical trials in breast and prostate cancers. Patients of the Southwest Cancer Treatment and Research Center are treated with the most modern medical systems available. UMC Health System employs almost 3,000 people. The system has been honored among the Best Places to Work in Texas, and in 2009 employee satisfaction ranked in the 97th percentile compared with hospitals nationwide.
The Healthcare Financial Management Association (HFMA) provides the resources healthcare organizations need to achieve sound fiscal health in order to provide excellent patient care. With more than 39,000 members, HFMA is the nation's leading membership organization of healthcare finance executives and leaders. HFMA helps its members achieve results by providing education, analysis, and guidance, and creating practical tools and solutions that optimize financial management. The organization is a respected and innovative thought leader on top trends and challenges facing the healthcare finance industry. From addressing capital access to improved patient care to technology advancement, HFMA is an indispensable resource on healthcare finance issues. hfma.org
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 stoptheleakage.com.
SOURCE Craneware, Inc.
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