Located in Clinton, Missouri, Golden Valley Memorial Healthcare is a not-for-profit healthcare organization, which includes a 56-bed hospital and a nationally recognized home health service. In addition, the hospital operates four physician and outpatient clinics. The rural community is situated in the west central area of the state.
Challenge
A need for price transparency drove Golden Valley Memorial Healthcare to seek
a solution that would optimize pricing in a highly competitive environment.
Solution
Pricing Analyzer™, Chargemaster Toolkit®
Results
- Increased net revenue by approximately $500,000 as a result of contractual
adjustments on commercial insurance dropping nearly. - Identified Golden Valley’s optimal pricing structure by modeling ‘what if” scenarios by price, payor sensitivity, and volume to see the impact on net revenue.
- Created a comprehensive pricing strategy and contributed to price transparency objectives, aligning pricing to be competitive.
- Opened new lines of service and was able to set optimal prices from the outset.
- Publicly published pricing for 50 common procedures.
“I’m able to see how volume, payor mix, and price sensitivity will affect the budget in different ways,
and I can tweak these things until I find the optimal pricing…I can easily find out what the net revenue impact is going to be. Pricing Analyzer really has been a good investment for our organization. It’s paid for itself many, many times over.”
Tammy Nadler, CFO
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[post_date] => 2018-05-02 17:50:46
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[post_content] => [et_pb_section bb_built="1" _builder_version="3.0.106" next_background_color="#ffffff" background_color="rgba(227,227,227,0.2)" use_background_color_gradient="on" background_color_gradient_start="#ffffff" background_color_gradient_end="#e3e3e3"][et_pb_row][et_pb_column type="4_4"][et_pb_image _builder_version="3.0.106" src="https://craneware.wpengine.com/wp-content/uploads/2018/05/UMC-logo.png" show_in_lightbox="off" url_new_window="off" use_overlay="off" align="center" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" /][et_pb_image _builder_version="3.0.106" src="https://craneware.wpengine.com/wp-content/uploads/2018/05/UMC.jpg" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" border_radii="|10px|10px|10px|10px" box_shadow_style="preset1" align="center" filter_hue_rotate="6deg" /][/et_pb_column][/et_pb_row][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2" background_layout="light"]
413‐bed teaching hospital (Level 1 trauma center with 50+ percent of billings in Medicare and Medicaid) plus more than 40 clinics, labs and other facilities, all serving Texas Tech University Health Sciences Center, West Texas and Eastern New Mexico.
[/et_pb_text][et_pb_button button_url="#" button_text="Get Started" button_alignment="center" background_layout="dark" _builder_version="3.0.90" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" module_id="case-study-content" _builder_version="3.0.90" prev_background_color="rgba(227,227,227,0.2)" next_background_color="#e6eaee"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]
Challenge
Increase accuracy and completeness of charge capture to improve net revenue and improve compliance; streamline workflow through automation.
Solution
Craneware’s Chargemaster Toolkit® to automate chargemaster maintenance and Bill Analyzer for improved charge capture.
Results
Total gross and net revenue doubled in first year for the charges added by the Revenue Integrity Department (over $1 million recovered in Emergency alone) and has remained at elevated level since; chargemaster maintenance now automated, resulting in greater accuracy.
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“Chargemaster Toolkit made it possible for us to consistently capture charges, regardless of patient status – and to capture all charges, then let automation determine exceptions.”
Micky Allen, Director of Revenue Integrity
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Ready to learn more?
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[post_title] => University Medical Center Health System
[post_excerpt] => - Chargemaster Toolkit®
- Bill Analyzer
413‐bed teaching hospital (Level 1 trauma center with 50+ percent of billings in Medicare and Medicaid) plus more than 40 clinics, labs and other facilities, all serving Texas Tech University Health Sciences Center, West Texas and Eastern New Mexico.
[/et_pb_text][et_pb_button button_url="#" button_text="Get Started" button_alignment="center" background_layout="dark" _builder_version="3.0.90" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" module_id="case-study-content" _builder_version="3.0.90" prev_background_color="rgba(227,227,227,0.2)" next_background_color="#e6eaee"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]Challenge
Increase accuracy and completeness of charge capture to improve net revenue and improve compliance; streamline workflow through automation.
Solution
Craneware’s Chargemaster Toolkit® to automate chargemaster maintenance and Bill Analyzer for improved charge capture.
Results
Total gross and net revenue doubled in first year for the charges added by the Revenue Integrity Department (over $1 million recovered in Emergency alone) and has remained at elevated level since; chargemaster maintenance now automated, resulting in greater accuracy.
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_blurb module_class="case-study-blurb" _builder_version="3.0.106" body_font_size="20" body_text_color="#2d79c2" url_new_window="off" use_icon="off" use_circle="off" use_circle_border="off" icon_placement="top" use_icon_font_size="off" background_layout="light"]“Chargemaster Toolkit made it possible for us to consistently capture charges, regardless of patient status – and to capture all charges, then let automation determine exceptions.”
Micky Allen, Director of Revenue Integrity
[/et_pb_blurb][/et_pb_column][/et_pb_row][et_pb_row][et_pb_column type="4_4"][et_pb_button button_url="http://host.craneware.com/af2?LinkID=CH00096645eR00000060AD" button_text="Download Case Study" button_alignment="center" background_layout="dark" _builder_version="3.0.106" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" url_new_window="on" button_icon_placement="right" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" background_color="#e6eaee" _builder_version="3.0.90" prev_background_color="#ffffff" next_background_color="#2d79c2"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.90"]You might also like...
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => University Medical Center Health System [post_excerpt] =>
- Chargemaster Toolkit®
- Bill Analyzer
Posts Per Page: 1
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University Medical Center Health System
- Chargemaster Toolkit®
- Bill Analyzer
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Madison Memorial is a full-service, non-profit community hospital in Rexburg, Idaho with 69 licensed beds.
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Challenge
Compliance, workflow and maximizing revenue all needed improvement. The organization’s previous chargemaster management solution did not provide departments with visibility into the chargemaster process.
Solution
Update chargemaster with automated systems by implementing Craneware’s Chargemaster Toolkit® and Pharmacy ChargeLink® solutions. Added Craneware’s Bill Analyzer for an even greater ROI.
Results
Anticipated yearly ROI of more than $327,000.
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“We’re a small hospital and we don’t have a lot of staff available for extensive chargemaster management. Craneware pulls the data together for us and gives us a strategic view into our costs and charges, something we didn’t have before. Craneware’s solutions are very helpful, especially when it comes to understanding revenue and usage.”
Patsy Fowler, Reimbursement Specialist and CDM Manager
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[post_title] => Madison Memorial Hospital
[post_excerpt] => - Chargemaster Toolkit®
- Pharmacy ChargeLink®
- Bill Analyzer
Madison Memorial is a full-service, non-profit community hospital in Rexburg, Idaho with 69 licensed beds.
[/et_pb_text][et_pb_button button_url="#" button_text="Get Started" button_alignment="center" background_layout="dark" _builder_version="3.0.90" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" module_id="case-study-content" _builder_version="3.0.90" prev_background_color="rgba(227,227,227,0.2)" next_background_color="#e6eaee"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]Challenge
Compliance, workflow and maximizing revenue all needed improvement. The organization’s previous chargemaster management solution did not provide departments with visibility into the chargemaster process.
Solution
Update chargemaster with automated systems by implementing Craneware’s Chargemaster Toolkit® and Pharmacy ChargeLink® solutions. Added Craneware’s Bill Analyzer for an even greater ROI.
Results
Anticipated yearly ROI of more than $327,000.
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_blurb module_class="case-study-blurb" _builder_version="3.0.106" body_font_size="20" body_text_color="#2d79c2" url_new_window="off" use_icon="off" use_circle="off" use_circle_border="off" icon_placement="top" use_icon_font_size="off" background_layout="light"]“We’re a small hospital and we don’t have a lot of staff available for extensive chargemaster management. Craneware pulls the data together for us and gives us a strategic view into our costs and charges, something we didn’t have before. Craneware’s solutions are very helpful, especially when it comes to understanding revenue and usage.”
Patsy Fowler, Reimbursement Specialist and CDM Manager
[/et_pb_blurb][/et_pb_column][/et_pb_row][et_pb_row][et_pb_column type="4_4"][et_pb_button button_url="http://host.craneware.com/af2?LinkID=CH00096645eR00000057AD" button_text="Download Case Study" button_alignment="center" background_layout="dark" _builder_version="3.0.106" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" url_new_window="on" button_icon_placement="right" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" background_color="#e6eaee" _builder_version="3.0.90" prev_background_color="#ffffff" next_background_color="#2d79c2"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.90"]You might also like...
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Madison Memorial Hospital [post_excerpt] =>
- Chargemaster Toolkit®
- Pharmacy ChargeLink®
- Bill Analyzer
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Madison Memorial Hospital
- Chargemaster Toolkit®
- Pharmacy ChargeLink®
- Bill Analyzer
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[posts] => Array
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[post_date] => 2018-05-02 17:16:35
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[post_content] => [et_pb_section bb_built="1" _builder_version="3.0.106" next_background_color="#ffffff" background_color="rgba(227,227,227,0.2)" use_background_color_gradient="on" background_color_gradient_start="#ffffff" background_color_gradient_end="#e3e3e3"][et_pb_row][et_pb_column type="4_4"][et_pb_image _builder_version="3.0.106" src="https://craneware.wpengine.com/wp-content/uploads/2018/05/ERH-logo.jpg" show_in_lightbox="off" url_new_window="off" use_overlay="off" align="center" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" /][et_pb_image _builder_version="3.0.106" src="https://craneware.wpengine.com/wp-content/uploads/2018/05/ERH.jpg" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" border_radii="|10px|10px|10px|10px" box_shadow_style="preset1" align="center" filter_hue_rotate="6deg" /][/et_pb_column][/et_pb_row][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]
An award-winning 25-bed rural Critical Access Hospital (CAH) located in Ulster County, New York, providing a broad range of medical specialties.
[/et_pb_text][et_pb_button button_url="#" button_text="Get Started" button_alignment="center" background_layout="dark" _builder_version="3.0.90" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" module_id="case-study-content" _builder_version="3.0.90" prev_background_color="rgba(227,227,227,0.2)" next_background_color="#e6eaee"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]
Challenge
Create a current, efficient chargemaster as an essential part of EHR implementation for meaningful use.
Solution
Craneware’s Chargemaster Toolkit® - CAH to automate chargemaster management and Online Reference Toolkit® to provide instant access to regulatory resources that are updated on a weekly basis.
Results
Gross revenues in the Emergency Department (ED) increased by 20 percent and rejected and denied claims were reduced by a combined 80 percent.
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_blurb module_class="case-study-blurb" _builder_version="3.0.106" body_font_size="20" body_text_color="#2d79c2" url_new_window="off" use_icon="off" use_circle="off" use_circle_border="off" icon_placement="top" use_icon_font_size="off" background_layout="light"]
“With Chargemaster Toolkit - CAH, our rejected and denied claims were reduced by a combined 80 percent. As a result, our gross accounts receivable days decreased from more than 120 days to 75 days.”
Patricia Gavis, CFO
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[post_title] => Ellenville Regional Hospital
[post_excerpt] => - Chargemaster Toolkit® – CAH
- Online Reference Toolkit®
An award-winning 25-bed rural Critical Access Hospital (CAH) located in Ulster County, New York, providing a broad range of medical specialties.
[/et_pb_text][et_pb_button button_url="#" button_text="Get Started" button_alignment="center" background_layout="dark" _builder_version="3.0.90" custom_button="on" button_text_size="18" button_text_color="#ffffff" button_bg_color="#66bf48" button_border_color="#66bf48" button_border_radius="10" button_use_icon="off" /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" module_id="case-study-content" _builder_version="3.0.90" prev_background_color="rgba(227,227,227,0.2)" next_background_color="#e6eaee"][et_pb_row _builder_version="3.0.47" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]Challenge
Create a current, efficient chargemaster as an essential part of EHR implementation for meaningful use.
Solution
Craneware’s Chargemaster Toolkit® - CAH to automate chargemaster management and Online Reference Toolkit® to provide instant access to regulatory resources that are updated on a weekly basis.
Results
Gross revenues in the Emergency Department (ED) increased by 20 percent and rejected and denied claims were reduced by a combined 80 percent.
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Patricia Gavis, CFO
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Ellenville Regional Hospital [post_excerpt] =>
- Chargemaster Toolkit® – CAH
- Online Reference Toolkit®
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Ellenville Regional Hospital
- Chargemaster Toolkit® – CAH
- Online Reference Toolkit®