ATLANTA, Oct. 19, 2011 /PRNewswire/ -- In a changing
economic landscape where hospitals are looking for ways to ensure
operational efficiency, quality and financial success while
managing compliance risks, the Healthcare Financial Management
Association's (HFMA) Measure, Apply, Perform (MAP) metrics have
established valuable benchmarks for revenue cycle excellence.
Healthcare industry leaders have worked with the HFMA to develop
the HFMA MAP Keys, which serve as unbiased indicators that can be
used to accurately measure revenue cycle performance. Alongside The
Bellevue Hospital, Craneware, Inc., the market leader in automated
revenue integrity solutions, will be presenting on revenue
integrity at the 2011 HFMA MAP Event, to be held at the Doral
Resort in Miami, Fla. from
October 26-28, 2011.
Marianne Schoen, RHIT, director
of Revenue Cycle and Quality Management for The Bellevue Hospital,
and Craneware Professional Services Consultant Michael Najera will
give a presentation on Wednesday, October
26, from 4:40 – 5:30 p.m.,
titled, "The Bellevue Hospital: Achieving Revenue Integrity
Excellence Using Chargemaster Toolkit®." This presentation will
focus on The Bellevue Hospital's performance improvement
achievements in HFMA MAP Key areas. The Bellevue Hospital
will share insights gained from their revenue integrity
initiatives, including the successful implementation of revenue
integrity solutions that helped them to improve the accuracy and
efficiency of charge processes, find missed revenue and strengthen
compliance. Among The Bellevue Hospital's revenue integrity
accomplishments are:
- Reduced denial write-offs from $1.8
million (2009) to $155,000
(2010)
- Decreased days in Accounts Receivable (A/R) by about 30
percent
- Nearly doubled bad debt collections
- Achieved a net revenue potential impact of more than
$1 million
One quarter of registered U.S. hospitals use Craneware Revenue
Integrity Solutions™. In 1999, Craneware introduced the industry's
first effective chargemaster management solution. Today,
Craneware's flagship product, Chargemaster Toolkit® has achieved
HFMA Peer-Review status for eight consecutive years and for the
last five years, Chargemaster Toolkit® is ranked number one in the
KLAS Revenue Cycle – Chargemaster Management market category in the
" Top 20 Best in KLAS Awards: Software & Professional Services"
report published in December 2010,
2009, 2008, 2007 and 2006.
To learn more about the HFMA MAP Initiative and MAP Keys, visit
http://www.hfmamap.org/.
To learn more about the Peer Review, visit
http://www.hfma.org/peerreview.
About HFMA
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
37,000 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.
About The Bellevue Hospital
A voluntary, not-for-profit healthcare facility The Bellevue
Hospital is committed to offering patients the most advanced
technology and medical treatment possible while providing the
highest level of personal care. Serving their community since 1914,
The Bellevue Hospital received the Outstanding Patient Experience
Award, HealthGrades™, 2010/2011. This award makes the hospital one
of only 48 hospitals ranked in the Top 5% of U.S. hospitals for the
fourth year in a row. Among the largest employers in the city of
Bellevue, Ohio, The Bellevue
Hospital was voted one of the 100 "Best Places to Work in
Healthcare" in the U.S. in 2008 by Modern Healthcare magazine.
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, Inc.