ATLANTA, July 29, 2013 /PRNewswire/ -- Hospitals continually struggle to incorporate coding, charging, and pricing for new high-value supplies, such as surgical implants and devices, into the chargemaster quickly and accurately, but the manual data management processes most hospitals employ can lead to inefficiencies, significant revenue leakage, and major compliance risk. In order to address this costly problem, Craneware, Inc., the market leader in automated revenue integrity solutions, today introduced an update to its leading Supplies ChargeLink® solution. The new Supplies Assistant functionality provides an automated search function that enables staff to quickly research and identify up-to-date Healthcare Common Procedure Coding System (HCPCS) codes for new high-value supplies to ensure compliant and accurate supply charge data.
In addition to improving efficiency and accuracy in assigning HCPCS codes to new supply items, Craneware's Supplies ChargeLink also allows compliance professionals to prioritize and analyze codes for line-item review based on value potential to mitigate audit risk, and reduce underpayments and denials. Supplies ChargeLink also facilitates communication in hospitals across traditionally siloed stakeholders about any missing or questionable supply codes.
"Today's healthcare landscape offers hospital and health system leaders the opportunity to advance their organizations' initiatives to improve financial performance and reduce compliance risk," said Craneware CEO, Keith Neilson. "With new supplies entering hospitals every day, incorrect charge data and coding lead to costly compliance risk and significant revenue leakage. Craneware is dedicated to continually enhancing our industry-leading solutions to meet the needs of the healthcare industry, and these new enhancements to our Supplies ChargeLink solution are a testament to this commitment."
To learn more about how hospitals and health systems can proactively work towards achieving revenue integrity and to view demos of Craneware's industry-leading revenue integrity solutions, including the # 1 in KLAS* Chargemaster Toolkit® and Bill Analyzer, as well as Online Reference Toolkit® and Craneware's Pharmacy ChargeLink® and Supplies ChargeLink®, visit Craneware's booth, #317, at AHRMM's 51st Annual Conference & Exhibition in San Diego, July 28-31, 2013.
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 helps customers optimize reimbursement, increase operational efficiency, minimize compliance risk, and retain more earned revenue. 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.
*Chargemaster Toolkit® is ranked No. 1 in the Revenue Cycle – Chargemaster Management market category for the seventh year in a row (2006 – 2012), and Bill Analyzer is ranked No. 1 in the Revenue Cycle – Other market category the second year in a row (2011 – 2012 ) in the "2012 Best in KLAS Awards: Software & Services" report, published December 2012. Data © 2012 KLAS Enterprises, LLC. All rights reserved. www.KLASresearch.com