We found $80,000 of revenue associated with one HCPCS code in our very first experience using Bill Analyzer.
—Terri Rinker, Community Hospital Anderson, Anderson, Indiana
Even with a perfectly clean chargemaster (CDM) it's still possible to omit charges from the final patient bill. Some charges are "hard coded" (they go straight from the chargemaster onto the bill), some charges are "soft coded" (HIM professionals modify the code as it goes from the chargemaster onto the bill), there's constantly regulatory change, the process cannot be fully automated as the it requires cross reference with medical records, mistakes happen, charge codes get omitted, revenue gets lost.
Bill Analyzer performs a charge capture audit on your bills using intelligence that Craneware has determined from analyzing over 58 million real hospital claims. This analysis indicates, with precise percentage likelihood, charge items which may be missing from your bills.
Bill Analyzer also calculates how much revenue may be leaked with each identified issue. Users can filter and sort on the highest frequency issues, highest percentage likelihood issues and highest value revenue issues, and therefore rapidly achieve significant charge capture improvement and Return On Investment.
An inbuilt workflow system allows teams to work together, and integration with Chargemaster Toolkit® allows chargemaster problems to be fixed directly.
There are additional inbuilt configuration options so that Bill Analyzer logic can be extended and customized with local edits to process billing data in accordance with facility specific requirements.
Bill Analyzer can be used in real time pre-bill, or you can use it retrospectively to analyze larger sets of billing data and identify problem trends and fix recurring issues within your charge capture process. Ask us how others are using Bill Analyzer to capture otherwise lost revenue.