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

ture.aspx">Pharmacy ChargeLink have the necessary, superior visibility into accurate drug costs and charges. This visibility, combined with actionable analysis, enables hospitals to implement industry best practices for business process efficiency, resulting in improved financial performance and compliance. Pharmacy ChargeLink helps healthcare organizations:

  • control costs,
  • increase transparency,
  • optimize reimbursement,
  • ensure adequate margins,
  • maintain defensible pricing consistent with internal policy and CMS regulation,
  • capture revenue they are currently missing due to absent, incomplete or incorrect pharmacy data in their billing systems,
  • identify processes that prevent better charge capture,
  • increase operational efficiency through industry best practices, and
  • minimize compliance risk.

Advanced capabilities in the new Version 3, enable healthcare organizations to:

  • Link inpatient/outpatient data with an expanded payor mix to help hospitals prioritize their time on areas most likely to yield financial improvement.
  • Use filters to identify drugs in the chargemaster with missing or incorrect units of measure.
  • Compare what their facilities pay for identical or dispensing-equivalent drugs using the Corporate Cost Analysis function to identify the lowest cost paid within the system.
  • Monitor drug costs with expanded benchmarking – in addition to the existing Average Sales Price and Average Wholesale Price benchmarks, new benchmarks include: Wholesale Acquisition Cost, Suggested Retail Price, Direct Price from the manufacturer, and the ability to compare facility drug costs against average-cost benchmarking from other Craneware clients who agree to share this information.
  • Facilitate the challen
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SOURCE Craneware
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