ATLANTA, April 10, 2012 /PRNewswire/ -- CMS' Medicare
Fee-for-Service Recovery Audit Program is accelerating
exponentially. From Oct. 2011 through
Dec. 2011, CMS' Recovery Audit
National Program (formerly RAC program) has already collected
$397.8 million in overpayment
take-backs from provider organizations: close to half of the total
amount recovered in all of CMS' fiscal year (FY) 2011 (Oct.
2010–Sept. 2011) during which Recovery Auditors collected
$797.4 million in overpayment
take-backs. And that figure is more than ten times the $75.4 million in overpayment recoveries in FY
2010 (Oct. 2009–Sept. 2010). With this staggering escalation of
take-backs from 2010 to 2012, Craneware, Inc., the market leader in
automated revenue integrity solutions, forecasts greater emphasis
on compliance in healthcare. In response to the growing demand for
information, best practices and tools to help provider
organizations support compliance and manage audits, healthcare
industry associations have invited Craneware to share information
at audit and compliance events this spring.
"As Recovery Auditors escalate their reviews across healthcare
organizations of all sizes, these audits are greatly impacting
financial performance, driving the need for providers to ensure
revenue integrity," said Keith
Neilson, CEO of Craneware. "Now more than ever, the entire
healthcare industry is looking to adopt methodologies and processes
that ensure charge compliance and reduce payment recoupment. As
such, Craneware is sharing at upcoming conferences our real-world
experiences, proven tools and best practices that help healthcare
organizations effectively manage audits and compliance."
At the American Association of Medical Audit Specialists (AAMAS)
18th Annual conference, Craneware Senior Vice President,
Karen Bowden and Senior Data
Products Manager Bill Malm ND, RN, CMAS and Healthcare Consultant
Joan Hoover will lead five "Educational Workshops" focused on
audits, and conduct three "Breakout Sessions" on compliance-related
issues. The two-day specialty-focused audit course will leave
participants well-versed and current in all aspects of audit with
respect to all types of payers. By understanding the risks that
healthcare organizations face today, auditors can act as solution
agents, identifying where the problems that cause revenue leakage
reside and how to solve those problems. The conference will be held
April 10-13, 2012 at the Point Hilton
Squaw Peak Resort in Phoenix.
In addition, Craneware will exhibit at the Health Care
Compliance Association (HCCA) 16th Annual Institute from
April 29 through May 2 in
Las Vegas in booth 100,
demonstrating software that works to enable optimal workflow and
decision support for ensuring charge compliance, managing audits
and preventing revenue leakage.
Craneware Revenue Integrity Solutions™ span four product
families: Audit & Revenue Recovery, Revenue Cycle, Supply
Management, and Access Management & Strategic Pricing.
Craneware developed the industry's first effective chargemaster
management solution, and Craneware's Chargemaster
Toolkit® has ranked number one in the KLAS
Revenue Cycle – Chargemaster Management market category for the
past six years. In 2011 Craneware's Bill Analyzer achieved number
one ranking in the KLAS Revenue Cycle – Other market category. More
than a quarter of all registered U.S. hospitals use Craneware
software.
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.
About AAMAS
AAMAS provides resources and support to advance the
practice of medical audit. AAMAS promotes a culture of
professionalism that upholds the principles of integrity, the
promotion of competency, legislative and regulatory compliance, and
the personal and professional standards of conduct of the medical
audit specialist.
About HCCA
HCCA currently has over 7,500 members and over
2,700 CHC certified in the U.S. HCCA exists to champion
ethical practice and compliance standards and to provide the
necessary resources for ethics and compliance professionals and
others who share these principles.
SOURCE Craneware, Inc.