ATLANTA, April 10, 2019 /PRNewswire/
-- Craneware (AIM: CRW.L), the healthcare market
leader in automated value cycle solutions, today announced the
addition of a new product to its SaaS-based Trisus platform,
(Trisus Pricing Analyzer). This represents an evolution of the
company's Pricing Analyzer product, which for years has helped U.S
hospitals and health systems take control of strategic pricing
through an automated process that adapts to payor and competitive
conditions.
According to Public Agenda research, 56 percent of Americans
researched healthcare pricing before getting care. This rise in
consumerism has created an environment where hospitals and health
systems are under intense scrutiny and pressure to develop
transparent and defensible pricing while maintaining already slim
margins. Without an automated process in place, these organizations
leave themselves susceptible to underachieving financials,
compliance risks and a lack of market competitiveness.
Through use of Trisus Pricing Analyzer, healthcare organizations
can achieve the following benefits:
- Maximize net revenue with a strategic pricing policy.
Trisus Pricing Analyzer gives healthcare organizations the ability
to model complex payor reimbursement rates by providing visibility
into Net Patient Revenue through claim based price modeling.
Real-time modeling includes regulatory, reimbursement, cost, and
market information to help establish pricing that is compliant,
defensible, and competitive.
- Simplify pricing evaluations. Complex reimbursement
language modeling can often make pricing transparency time
consuming and difficult. Craneware imports the detailed patient
claim file allowing our models to reveal the net revenue based on
specific payor nuances. Our team of experts builds your contract
reimbursement rules into Trisus Pricing Analyzer, removing the need
for organizations to spend time and resources managing and
maintaining contract rules.
- Ensure compliance and competitiveness. Understanding
pricing, when compared with other hospitals, is essential to price
modeling. Trisus Pricing Analyzer provides comparative pricing
data, including the market low, high, average, and median charges.
Health Price Index and Consumer Price Index data is also included
to help account for inflation.
"With reimbursements shrinking and more cost shifting to
consumers, the ability to adapt quickly is essential to establish
defensible and optimal pricing," said Brian
Workinger, vice president payor and pricing analytics at
Craneware. "Industry research reveals that 10 to 25 percent of a
hospital or health system's total business is charge-related, and
that even a modest price increase can improve operating
margin."
As the healthcare industry evolves beyond traditional,
"old-school" revenue cycle management and towards value-based
economics, outcomes are increasingly evaluated on both cost and
quality of care. Craneware is uniquely qualified to partner with
healthcare providers to plan, execute, and monitor the success of
these critical initiatives. Click here to find out how.
About Craneware
Craneware (AIM: CRW.L), the leader in automated value cycle
solutions, collaborates with U.S. healthcare providers to plan,
execute and monitor value-based economic performance. Our flagship
solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking
in Revenue Cycle – Chargemaster Management for 12 of the past 13
years and is part of our value cycle management suite, which
includes charge capture, strategic pricing, patient engagement,
claims analytics, patient engagement, revenue recovery and
retention, and cost and margin analytics solutions. Learn more at
craneware.com.
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SOURCE Craneware