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Craneware's Pharmacy ChargeLink® Version 3 Helps Improve Margins and Control Costs
Date:10/12/2010

ATLANTA, Oct. 12 /PRNewswire/ -- Healthcare organizations can now gain unmatched visibility into their business processes and new efficiencies to help contain rising drug costs, ensure compliance, and improve financial performance with new functionality in Pharmacy ChargeLink® Version 3 from Craneware, Inc. (AIM: CRW.L; OTC: CRWRY), the leader in automated revenue integrity solutions for U.S. healthcare.

"Pharmacy revenue leakage costs hospitals millions," said Keith Neilson, CEO of Craneware. "Constant changes to formularies, prices and reimbursement policies make it tough for hospitals to maintain current, complete information on the data needed for drug reimbursement. Craneware recognized the industry's need for software that would provide business process visibility and analysis – from drug purchasing all the way to reimbursement – to connect these siloed areas."

To meet this need, Craneware introduced Pharmacy ChargeLink – the industry's first effective solution of its kind – in January 2008. "As we now introduce the advanced Version 3, clients' results show Pharmacy ChargeLink remains unmatched in helping healthcare organizations integrate their pharmacy spend information with billing to ensure correct pricing, accurate coding and optimal reimbursement," commented Neilson. New Version 3 capabilities enable hospitals to better account for drug expenditures, comply with changing payor requirements, prioritize work according to its potential financial impact, and quantify organizational value of physician drug preferences to support cost-saving conversations, among key benefits.

Pharmaceuticals are among the top costs for healthcare organizations. As drug costs continue to increase, and new reimbursement models emerge, hospitals using

SOURCE Craneware
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