ATLANTA, June 17, 2013 /PRNewswire/ -- Underpayments for
pharmaceutical supplies continue to be a significant revenue drain
on hospitals as they struggle to improve financial performance.
It's hard to identify these losses without bringing together both
purchasing and charge data sets and looking at exceptions.
Craneware, Inc., the healthcare market leader in automated revenue
integrity solutions, today announced that it will lead an education
session discussing best practices for preventing common pharmacy
discrepancies that lead to underpayment at the Healthcare Financial
Management Association National Institute (HFMA ANI) 2013,
alongside its client, Billings Clinic, a community-owned healthcare
organization based in Billings,
Mont.
(Logo: http://photos.prnewswire.com/prnh/20121221/CL33999LOGO
)
The session is featured in the HFMA ANI conference's Financial
Management: CFO Strategies track. The presentation, "Transforming
Pharmacy Revenue Integrity through Clinical and Financial
Collaboration," will be held on Tuesday,
June 18, 2013 at 10:00 a.m.
EST.
When instituting a revenue integrity program, the pharmacy area
can often be overlooked. This presentation will detail best
practices for improving pharmacy revenue cycle performance and
compliance through clinical and financial collaboration and
automation. During this presentation, Kathy
Schwartz, Craneware project manager; Jennifer Carmody, director of reimbursement
services at Billings Clinic; and Kyle
Townsend, clinical manager of pharmacy services at Billings
Clinic, will explain how Billings
implemented an enterprise-wide revenue integrity initiative,
deploying automated solutions to aid chargemaster and pharmacy
management, ensure compliant pricing and drive financial
performance across the clinic's diverse rural locations.
"As healthcare organizations across the nation are facing a
multitude of challenges related to increased regulations and
changing legislation, collaborating and sharing best practices in a
setting like ANI is vital to improving pharmacy revenue cycle
management specifically, and revenue integrity overall," said
Keith Neilson, CEO of Craneware. "We
are honored to present alongside our client, Billings Clinic, and
share our combined revenue integrity best practices with an
audience of our peers."
To enable hospital organizations to efficiently realize the
value inherent in the validation of their pharmacy charges, and to
mitigate risk for one of healthcare's most costly supplies,
Craneware pioneered an automated solution in 2008. To learn how
hospitals and health systems can proactively ensure their revenue
integrity, request a meeting or visit Craneware's booth #1501
during HFMA ANI 2013. View enhancements to the # 1 in KLAS*
solutions Chargemaster Toolkit® and Bill Analyzer, as well as
Online Reference Toolkit® and Craneware's Pharmacy ChargeLink®
June 16-19.
About Billings Clinic
Based in Billings, Montana, Billings Clinic is the
largest health care system in Montana and is a physician-led health
care organization, consisting of a multi-specialty physician
group practice, a 272-bed hospital, and a 90-bed skilled
nursing and assisted living facility. Billings Clinic is the
only Montana MAGNET-designated health care organization
and member of the Mayo Clinic Care Network. The Billings
Clinic system includes partnerships with ten critical access
hospitals serving markets in Montana, Wyoming and the western Dakotas with the
highest standards of care for quality, safety and value. Billings
Clinic is recognized as U.S. News' #1 hospital in Montana, is a Top 100 hospital as ranked by
Truven, and is a recipient of the Women's Choice Award for "Best
Hospitals for Patient Experience". For more information,
visit www.billingsclinic.com.
About HFMA
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
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 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). "2012 Best in KLAS Awards: Software & Services" report,
published December 2012. Data © 2012
KLAS Enterprises, LLC. All rights reserved.
www.KLASresearch.com
SOURCE Craneware