There are many challenges to managing supply charges in different facilities. For example, many business managers are concerned about devices being used but not charged and that some of their supplies are not assigned to the proper code. Hospitals could save billions each year in the healthcare industry if they were to improve their supply chain optimization.
No matter what electronic medical records (EMR) system your organization uses or what supply chain products you may have, it’s always a daunting task to keep up with the ever-changing list of tens of thousands of supply items. Some systems accommodate CDM charge capture services by having one code mapped to each supply inventory item, making mapping accuracy extremely accurate. However, other systems require each chargeable supply to have a separate charge code, resulting in a huge number of line items to maintain.
Tools like CMNavigator® improve supply chain optimization by connecting all the dots between clinical department directors, circulating nurses, supply chain staff, and finance personnel. It allows clinical staff to submit requests and add new supply items easily, notify the supply chain to update inventory information, and expedite the process. With budgets getting tighter, hospitals need to reduce supply overconsumption and be reimbursed appropriately. Every hospital has a supply chain optimization opportunity, and it is achievable with the right tool.
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.
Learn more about our solutions or visit our homepage today!
In the fast-paced environment of the operating room (OR), maintaining accuracy is not limited to medical procedures—it also extends to financial operations, particularly accurate billing or “charging” for procedures, supplies, ...
Revenue Cycle Management (RCM) is a critical process in the healthcare industry, especially within hospitals. It encompasses the entire financial lifecycle of a patient’s interaction with a healthcare provider, from appointment ...
In healthcare today, charges are increasing, reimbursement is tightening, and pricing has become available for the public. Charges must be simplistic and straightforward for consumers to understand. Headlines highlight patients ...
Subscribe here to receive newsletters on industry insights.
