ATLANTA, September 25, 2014 – According to The American Hospital Association’s latest RACTrac survey, 93 percent of hospitals surveyed experienced recovery audits in the first quarter of 2014 and almost 60 percent said they spent over $25,000 in the same quarter to manage Recovery Auditor (RAC) activity. As RACs and other payor audits continue to affect health systems’ bottom lines, hospitals need programs and tools to minimize compliance risk and reduce revenue leakage. Craneware, Inc., the healthcare market leader in automated revenue integrity solutions, today announced that it has been selected to present audit management best practices at three industry conferences this fall in an effort to support healthcare organizations that are faced with audit-related challenges. Thought leaders from Craneware will be giving presentations at the following events:
- Association of Healthcare Internal Auditors (AHIA) 2014 Conference: Craneware Senior Manager of Revenue Integrity Communications, William Malm, led a presentation titled, “Managing Opportunities and Identifying Risks Using Chargemaster Control,” on September 23. Malm discussed keys for optimal reimbursement, mitigating compliance risks and improving operational efficiency.
- American Health Information Management Association (AHIMA) 2014 Convention: Malm and Craneware Executive Vice President of Revenue Integrity Operations, Karen Bowden, will lead a presentation titled, “Managing Multi-Payor Audits,” on September 29. Malm and Bowden will outline audit management best practices for commercial audits versus federal payor audits.
- HCPro 2014 Medicare Compliance Forum: Malm will lead four compliance-related presentations:
- “Jeopardy of Non-Validated Charge Capture Within Your EMR” on October 23.
- “From the Front Line: An Auditor’s Perspective” on October 23.
- “The Ins and Outs of Appeals: From Process Building to Appeal Writing” on October 24.
- “Chargemaster Essentials to Ensure Accurate Claim Submission” on October 24.
“We’re hearing from an increasing number of hospital leaders who need help developing a proactive audit strategy,” said Keith Neilson, CEO of Craneware. “The fact that Craneware was selected to present at these upcoming industry events demonstrates the demand for audit and compliance education. We are glad to share best practices for minimizing compliance risk and managing audits proactively and efficiently to help provider organizations achieve revenue integrity.”
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. To learn more, visit craneware.com.