Chicago, May 15, 2012 – The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, Craneware, Inc., a market leader in automated revenue integrity solutions, has once again consistently met the “Peer Reviewed by HFMA®” standard. HFMA recently reviewed Craneware as part of the evaluation process necessary to maintain Craneware Revenue Integrity Solutions™ HFMA Peer Reviewed designation.
Craneware Revenue Integrity Solutions&trdae; span four product families: Audit & Revenue Recovery, Revenue Cycle, Supply Management, and Access Management & Strategic Pricing. Within those four product families are the recently reviewed and Peer Review designated products:
- Chargemaster Toolkit® automates chargemaster management processes and workflows facilitating continual analysis of charge data to identify problems in line items, coding mistakes, flawed price positioning and compliance issues to help establish and sustain revenue integrity.
- Chargemaster Corporate Toolkit® automates the creation and maintenance of a corporate standard chargemaster, enabling effective workflow for the continual analysis of charge data and automated management of updates across the organization to help optimize reimbursement, improve operational efficiency and support compliance.
- Interface Scripting Module is software that automatically uploads chargemaster changes to the patient accounting system for accurate billing.
- Online Reference Toolkit® is a browser-based tool for reducing risk by providing access to reference and regulatory resources.
- Bill Analyzer is software that improves charge capture processes by identifying lost revenue and categorizing areas of risk resulting in cleaner, more compliant claims.
“HFMA’s commitment to thought leadership and best practices for financial executives in healthcare makes the organization’s Peer Reviewed status a gold standard that companies strive to achieve. At Craneware, we place significant value on HFMA’s endorsement and see it as a clear indicator that our solutions have fulfilled our customers’ revenue integrity needs,” said Craneware CEO, Keith Neilson.
HFMA’s Peer Review process is designed to provide healthcare financial managers with an objective third-party evaluation of products and services used in the healthcare workplace. The rigorous, eleven-step process includes a panel review made up of current customers, prospects who have not made a purchase, and industry experts. Peer Review status of the product or service and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
“We’re pleased to have Craneware renew their HFMA Peer Reviewed designation,” says HFMA President and CEO Richard L. Clarke, DHA, FHFMA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed product or service meets an objective third-party evaluation that assesses overall effectiveness, quality, and value.”
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.
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 optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. craneware.com.