ATLANTA, June 27, 2011 /PRNewswire/ -- Craneware, the U.S.
healthcare market leader in automated revenue integrity solutions,
today announced the availability of Physician Revenue
Toolkit® – Corporate to help hospitals manage multiple
physician operations. With this new solution, hospitals can
establish a corporate chargemaster file to standardize aspects of
physician charging for greater operational efficiency, optimal
reimbursement and reduced compliance risks.
As hospitals seek to survive and thrive in the new world of
bundled payments, ACO and medical home programs, many are actively
seeking to employ more physicians and acquire community practices.
In fact, a recent survey by the Medical Group Management
Association shows a nearly 75 percent increase in the number of
active doctors employed by hospitals since 2000. This shift has
intensified the perennial challenge of making employed providers
revenue positive for the organization. A recent study published in
The New England Journal of Medicine estimated that hospitals
lose between $150,000 and $250,000
per year over the first three years of employing a physician
(Kochner and Sahni; "Hospitals' Race to Employ Physicians" –
March 30, 2011).
"As the U.S. healthcare industry continues to evolve, we are
committed to helping our customers stop revenue leakage in all of
its forms," said Keith Neilson, CEO
of Craneware. "Physician Revenue Toolkit is a logical extension of
the software tools we offer that give hospitals vital insight into
their business processes so that they can manage effectively for
overall financial success."
Craneware will be exhibiting at HFMA's 2011 ANI: The
Healthcare Finance Conference at the Gaylord Palms Resort and
Convention Center in Orlando, Fl.
from June 26 through June 29, in
booth #813. Craneware InSight will exhibit in booth #1815.
Physician Revenue Toolkit® – Corporate provides
the most up-to-date information on Medicare and industry
regulations. The software then identifies missing or incorrect
codes, descriptors and invalid charges. This information
makes it easier to manage physician group charges, codes, pricing,
relative value units (RVUs) and fee schedules – ensuring optimal
reimbursement and compliance.
Physician Revenue Toolkit® – Corporate is part of
Craneware's Revenue Cycle product family, which includes the
Chargemaster Toolkit® — the industry's leading chargemaster
management solution, having been ranked number one in the KLAS
Revenue Cycle — Chargemaster Management market category for the
last five years.
Craneware's educational campaign, "Stop the Leakage," shares
valuable information on hospital financial performance, including
common sources of revenue leakage and best practices to achieving
revenue integrity. Find out more at stoptheleakage.com.
About Craneware
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 and stoptheleakage.com.
SOURCE Craneware