Do you have difficulty managing supply charges in your facility? Are you worried about implantable devices being used but not charged? Do you have concerns that some of the supplies are not assigned to the proper code? If so, you are definitely not alone. Hospitals could save approximately $25.4 billion a year if they improve their supply chain operations, according to a new report.
No matter what EMR system you use and what supply chain product you have, it is a daunting task to keep up with the ever-changing list of tens of thousands of supply items. Some systems allow one CDM charge code being mapped to multiple supply inventory items, which makes mapping accuracy extremely crucial. Some systems require each chargeable supply to have its own charge code, which results in an enormous number of line items to maintain.
An intuitive yet comprehensive tool, such as CMNavigator, is needed to connect the dots between circulating nurses, clinical department directors, supply chain staff, coders and finance personnel. Such a tool should allow staff in the clinical areas to submit requests to add new supply items easily, notify supply chain to update inventory information, equip CDM coordinators with necessary resources to assign proper coding, and expedite the process to update the approved requests into the CDM. It is also important for your CDM team to be able to monitor the workflow turn around time, lookup historic requests and manage active supply charges easily with dynamic reports and advanced alerts.
With budgets getting tighter, hospitals can not afford to consume supplies and continue to be reimbursed inappropriately. Every hospital has an unrealized supply chain opportunity. It is imperative to enable automation to reduce clinical and operational variances. With assistance from the right tool, you can increase your hospital’s revenue through improved charge capture.
About MedCom Solutions
MedCom Solutions creates patented technology and state-of-the-art software to help medical service providers meet rapidly escalating and changing medical billing demands. Our Chargemaster, Pricing, and Compliance solutions have yielded hundreds of millions in net revenue for healthcare providers across the country.
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