Hospitals looking to automate the reimbursement process for chargeable supplies have a new tool at their disposal.
Craneware, an Atlanta-based developer of revenue cycle management tools, has unveiled Supplies ChargeLink, a software solution designed to link the item master and supply items in a provider’s chargemaster platform, identifying supply item inconsistencies and improving the reimbursement process.
“Today, most hospitals rely on spreadsheets, logbooks and other manual methods to coordinate their supply chain's charge capture and billing processes,” said Keith Neilson, Craneware’s CEO, in a press release. “These inefficient measures don't provide hospitals with the necessary visibility into the enormous amounts of reimbursable supply charges that their facilities could be capturing.”
According to Craneware executives, a recent survey by Porter Research indicates three out of every four hospitals rely on manual processes to compare supply purchase histories with actual billing for supplies. Supplies ChargeLink automates that process by identifying coding, billing or pricing errors and any other inconsistencies, correcting them and identifying supply items that are subject to CMS, RAC or OIG guidelines. The resulting audit trail, officials said, reduces compliance risk while linking the materials management and finance departments.
A supply costs change, officials said, Supplies ChargeLink ensures that pricing policies are in line with adjusted charges.
“As healthcare facilities continue to face demanding financial pressures, the need for increased visibility into revenue leakage has never been greater,” Neilson said. “Craneware provides hospitals with a streamlined process to recover the revenues to which they are entitled and, at the same time, comply with important regulations.”
Supplies ChargeLink was made available commercially at the beginning of the year and was first implemented by Washington County Regional Medical Center, a 116-bed, non-profit hospital in Sandersville, Ga.