REVENUE MANAGEMENT:Accurate and Defensible Pricing of Medical Supplies

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Supply & Revenue Linkage

Integrate supply chain and revenue cycle data with CrossWalk® to establish a defensible markup strategy based on acquisition costs and to improve revenue capture and reimbursement.

Establishes supply and revenue integrity by ensuring all chargeable supplies are accurately represented in the chargemaster

Provides complete side-by-side visibility into supply charges and cost data for data integrity
Offers the industry’s most complete and accurate Master Item File and Chargemaster to highlight compliance issues and revenue opportunities
Helps manage carve-outs by identifying potential data issues associated with billing for high-priced supplies and implants
Ensures high-cost supplies and pass-throughs are captured when used with the charge capture audit tool

Provides a built-in markup matrix simulator to ensure publicly stated pricing strategy is fully implemented across the organization

Evaluates multiple supply pricing strategies based on acquisition costs and models the bottom-line impact
Ensures new supply items are charged based on markup strategy
Manages the rapidly changing supply mix and maintains correct links to the chargemaster
Derives cost information from multiple sources including the supply item file and invoice data
Facilitates quick price changes in the patient accounting system

Provides standard and customizable reports that can be filtered to include individual or multiple facilities and delivered via e-mail

Tracks non-file purchases including high-cost, special order items and delineates between items missing from the item file and items listed but purchased outside of normal procurement processes
Streamlines analysis and indicates areas for financial or compliance improvement within one or more facilities
Identifies unlinked supply items by volume to prevent missed charges
Provides comparison of prices to other hospitals nationally
Identifies items that should have separate charge codes and recommends best practice coding
Audits sub-system ordering to identify linkage problems and ensure the correct charge code is used

Discover how MedAssets can help your bottom line

Maricopa Integrated Health System

Maricopa eliminates deficiencies for both purchasing and revenue cycles of its business and calculates a net increase of over $300,000 based on strategic markup alone. Maricopa was able to synchronize patient charges with cost for supplies, reveal non-item file and special order purchases previously slipping through the cracks, and reduce uncertainty in pricing.

April 30, 2010

NAHAM 36th Annual National Conference and Exposition

April 30 - May 3

Orlando, FL

Booth: 408