As provider organizations continue to transition to health information systems like Epic and Cerner, data that has traditionally resided in the chargemaster is being moved to detached, clinical modules. This disparate data results in redundancies that can hinder a revenue cycle department's ability to maintain accurate charges for billing and reimbursement. The updates announced today will help hospitals gain visibility into charge data to ensure compliance and maximize financial performance.
Both Chargemaster Toolkit Discovery Viewer and Chargemaster Toolkit Corporate Discovery Viewer build on the award-winning functionality that makes Craneware's Chargemaster Toolkit the charge management tool of choice in over a quarter of all U.S. hospitals. The updates enable users to view all chargemaster data in one place, and improve collaboration across teams. Specifically, these tools enable users to:
- View all procedure, pharmacy, and supplies records
- View and filter by location/service line, volume/revenue and usage
- View fee schedules for multiple facilities, payers, and service lines
- Identify and remove redundant charges
Sparrow Health, mid-Michigan's largest health system and a Craneware client since 2015, has already seen the benefits of utilizing the newest version of Chargemaster Toolkit. "Chargemaster Toolkit Discovery Viewer provides added visibility and capability in regard to our Epic data," said Kevin Sharp, Executive Vice President of Revenue Cycle at Sparrow Health. "We believe this feature would result in added value for Epic users."
"We're always looking for ways to advance our technology to better meet the needs of our clients," said Keith Neilson, CEO of Craneware. "Right now provider organizations are facing reimbursement pressures, as well as the challenge of complex HIS implementations on top of an ever-changing list of regulations. In the midst of all of this, Craneware is working to support providers with solutions designed to ensure revenue integrity so that they can focus on providing quality care to patients."
Craneware's Chargemaster Toolkit has ranked number one in the KLAS Revenue Cycle – Chargemaster Management market category for ten years in a row. The solution helps address a wide range of revenue cycle management needs for healthcare providers, including management automation that helps improve accuracy of compliant charge capture.
Craneware (AIM: CRW.L) is the market leader in software and supporting services that help healthcare providers improve margins, so they can invest in quality patient outcomes. Our value cycle management suite includes Patient Engagement, Charge Capture & Pricing, Coding Integrity, and Revenue Recovery & Retention solutions. These SaaS solutions identify and address risks related to revenue and cost. Learn more at craneware.com.
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SOURCE Craneware, Inc.