There’s no denying that surgery is an expensive endeavor, and it’s tough for a hospital to walk that fine line between quality care, profit, and affordability for the patient. From a financial standpoint, a focused effort must be created and maintained to maximize the entire process with billing that is both thorough and effective.
Conventional wisdom says that an average of 65% of all hospital revenues stem from operating room procedures, so it’s vitally important that these charges are accurately and coherently structured. If this concern is not addressed intelligently and revisited periodically to ensure it is still being met, your facility could be looking at significant deficits and ballooning overhead expenses.
Chargemaster management, such as that provided by Medcom Solutions, is the way to make the most of your operating room to strengthen it as a source of reliable and increasing income over the long term.
A well-managed Chargemaster that considers time increments, acuity structures, and price levels is the key to accounting for every detail of surgical charge components. Each of these components should be reviewed intently to find their effects on gross and net revenue, and they will be with effective Chargemaster management services. The result of this oversight means your hospital has a robust bottom line.