Pharmacy ChargeLink has helped us improve pharmacy revenue, financial performance and compliance. With more accurate coding, charge capture, and competitive, defensible pricing. We have confidence that we’re billing and being reimbursed properly.
– Jennifer Carmody, Director of Reimbursement Services, Billings Clinic
Gaps in pharmacy data between your purchase history, formulary, and chargemaster are difficult to identify and validate manually. Yet with the rising cost of drugs, these gaps can result in a significant amount missed revenue that negatively impacts your hospital’s bottom line.
Disconnected workflows and databases mean that expensive drugs are often billed incorrectly or never billed at all. Manually identifying, auditing and validating critical pharmacy data issues across departments is too time-consuming and inefficient. These problems are often not identified until a major change such as a HIS conversion, government audit, or revenue shortfall brings the need to streamline operations into focus.
Pharmacy ChargeLink solves these issues by providing automatic validation of all pharmacy data, giving all stakeholder departments a shared platform to ensure administered medications are accurately coded, billed, and reimbursed at an optimal level. By synching the drug purchase history, formulary, chargemaster and up-to-date regulatory reference, hospitals can address the revenue gaps that sabotage efforts at cost-reduction
Discover what's really costing your pharmacy – missed revenue
- Discover the operational efficiency of having pharmacy and finance teams on the same page with visibility into all data
- Discover reimbursable drugs purchased, but missing from the chargemaster or formulary
- Discover drugs in the chargemaster or formulary with invalid or incorrect HCPCS codes and multipliers
- Discover inaccurate Primary NDCs billed on claims
- Discover large gaps in volume between drugs purchased vs. drugs billed
- Discover the most important pharmacy data issues that require correction
Convert manual cost-to-charge audits into automatic identification and validation
- Use role-based worklists to prioritize validation based on revenue value and potential risk
- Align prices for medications between hospitals and clinics
- Correct missing and incorrect multiplier issues that lead to improved operational processes
- Export reporting of your complete pharmacy data sets compared to Craneware’s proprietary reference and regulatory data
- Manage costs, internal pricing policies, and improved margins
- Quickly identify and respond to coding and regulatory changes
Optimize from purchase to bill
- Determine current pricing policy and margin impacts to optimize transition from fee for service to value-based reimbursement.
- Achieve optimal reimbursement
- Bill appropriately with accurate cost-to-charge analytics
- Benchmark and monitor key performance indicators
- Make better strategic decisions with actionable analytics for value-based metrics and population health
Pharmacy ChargeLink Implementation
Craneware Professional Services provides an implementation service that delivers a quick return on investment and ongoing benefits from using the software with expert consultation, best practices and effective business process design. The engagement includes a review and analysis of the previous 12 months' pharmacy purchase history and of the chargemaster's pharmacy data, onsite training, strategic reporting, and more.