ATLANTA, July 23, 2013 — Supplies represent about fifteen percent of an average hospital’s operating budget, with pharmacy accounting for as much as ten percent of a hospital’s total budget. To comply with regulatory scrutiny, avoid underpayments and achieve revenue integrity, it is vital for hospitals to maintain and proactively reconcile purchasing and charge data. Craneware, Inc., the healthcare market leader in automated revenue integrity solutions, today announced that it will lead a presentation detailing best practices for pharmacy charge data management at the Association for Healthcare Resource & Materials Management (AHRMM) 2013 Conference & Exhibit alongside its client, Billings Clinic, a community-owned healthcare organization based in Billings, Mont.
The presentation, “What You Don’t Know, Costs You – Keys to Revenue Integrity,” will take place on Monday, July 29, at 4:15 pm. Billings Clinic, Director of Reimbursement Services Jennifer Carmody and its Director of Pharmacy Services Kyle Townsend, will be joined by Craneware Product Manager Kathy Schwartz to discuss how Billings Clinic formed a multi-disciplinary team to employ practical process improvements and ensure accuracy. The presentation will detail the team’s efforts to manage acquisition costs, level pricing fluctuations and move from manual to automated processes to ensure compliant charging and coding.
“Healthcare organizations face a multitude of challenges today, and the Billings Clinic’s success story is a great example of the value that can be realized by taking a strategic approach to managing data for compliant reimbursement,” said Keith Neilson, CEO of Craneware. “We are excited to present at the AHRMM Conference and hope that the Billings Clinic’s story will encourage other healthcare leaders to make similar strides in achieving revenue integrity.”
To learn more about 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, during AHRMM 2013 in San Diego, from July 28-31, 2013.
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 MAGNET facility in Montana. Billings Clinic is a 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.
The Association for Healthcare Resource & Materials Management is the leading national association for executives in the healthcare resource and materials management profession. A professional membership group of the American Hospital Association, AHRMM serves more than 4,200 active members. Founded in 1951, AHRMM prepares its members to contribute to the field and advance the profession through the intersection of cost, quality, and outcomes via networking, education, recognition, and advocacy. For more information, visit www.ahrmm.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 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.
*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
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