ATLANTA, April 22, 2013 /PRNewswire/ -- In the first
quarter of the U.S. federal government's 2013 fiscal year, Medicare
Recovery Auditors collected a record high of $744.8 million in
overpayments from hospitals and other providers, a 23 percent
increase from the most recent quarter. In response to this
staggering escalation of recovery audits and increased need for
compliance, Craneware, Inc., the market leader in revenue integrity
solutions, will be showcasing several enhancements to its #1 in
KLAS Bill Analyzer solution, an automated claims analysis tool, at
the HCCA 17th Annual Compliance Institute 2013,
April 21-24, in National Harbor,
MD.
Bill Analyzer enables hospitals to correct claim issues at the
root cause by automatically reviewing claim information to identify
missed charges, billing errors, and potential compliance issues, so
they no longer have to allocate limited resources to correct the
same errors over and over again. By understanding repeated
patterns, hospitals can identify opportunities to capture
additional legitimate revenue and mitigate compliance risk. Bill
Analyzer now includes new enhancements that provide greater
flexibility for claims analysis, including valuable overviews of
issues, issue categories and improved revenue impact calculations.
The new functionalities also include all-payer capabilities, and
offer increased visibility into 100 percent of outpatient data, and
the ability to prioritize claim issues to rapidly identify revenue
opportunities and compliance risks.
"As U.S. healthcare evolves and healthcare organizations work to
meet increased regulatory demands on thin margins, compliance
officers have a strategic role in improving the bottom line through
the ability to accurately identify sources of revenue leakage and
to help optimize compliant, legitimate reimbursement," said
Keith Neilson, CEO of Craneware.
"Craneware is committed to meeting the needs of healthcare
organizations as they work to achieve revenue integrity, and we
look forward to HCCA to discuss best practices for compliance and
how software helps compliance officers more efficiently improve
compliance for their organization."
Craneware will also demonstrate its InSight Audit® solution, a
comprehensive web-based audit management tool that helps hospitals
develop and maintain an efficient and transparent audit process.
InSight Audit provides a seamless interface with The Centers for
Medicare and Medicaid Services (CMS) and is certified for
electronic submission of medical documentation (esMD) to Recovery
Auditors, Medicare Administrative Contractors and other review
contractors.
To learn more about Craneware's Bill Analyzer, InSight Audit or
the range of Craneware Revenue Integrity Solutions®, visit booth
#415 at the HCCA 17th Annual Compliance Institute 2013
from April 21-24 in National Harbor,
MD.
Craneware's Bill Analyzer is ranked No. 1 in the Revenue Cycle –
Other market category in the "2012 Best in KLAS Awards: Software
& Services" report, published December
2012. Data © 2012 KLAS Enterprises, LLC. All rights
reserved. www.KLASresearch.com
About HCCA
The Healthcare Compliance Association (HCCA) is a member-based,
non-profit, organization for compliance professionals in the
healthcare field. HCCA currently has more than 8,600 members. HCCA
exists to champion ethical practice and compliance standards and to
provide the necessary resources for ethics and compliance
professionals and others who share these principals.
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.
SOURCE Craneware, Inc.