On January 1, 2019 the Hospital Price Transparency Rule took effect mandating hospitals publish their price lists online in a machine-readable format. Hospitals complied by making their charge description master (CDM) available via download in CSV or similar format. The result fell far short of CMS’ goal of empowering patients to become “active healthcare consumers” […]
We’ve summarized the Centers for Medicare and Medicaid Services (CMS) and American Medical Association (AMA) payment and coding updates being implemented October 1, 2019. The updates should be reviewed for possible implementation in your hospital chargemaster and/or reviewed by applicable coding and billing staff.
Is your revenue integrity program performing at full capacity? Perhaps more important, do you have a revenue integrity program (or department) at all? A survey conducted by the Healthcare Financial Management Association (HFMA) reports that less than half (44%) of providers contacted have a revenue integrity department to track accurate coding and charge capture, establish […]
Panacea announces enhanced Pharmacy Revenue Improvement solution, which combines expert consultants with Panacea’s PHARMauditor software tool.
ST. PAUL, MN—November 7, 2017—Panacea, a Career Step company and leading provider of revenue cycle management, smart software and enterprise-level educational solutions, is pleased to announce its enhanced Pharmacy Revenue Improvement solution. This solution combines Panacea’s expert consulting team and the company’s PHARMauditor software tool to improve revenue by gathering and simplifying complex data to ensure accurate and compliant pharmacy information.
“Achieving pharmacy revenue integrity is an especially complex task for healthcare providers,” said Mike Hodgson, President of Panacea. “Disconnects between the NDC, HCPCS, revenue codes and billable units; differences between the amount of medication dispensed and billed; and inconsistent cost and markup models, among other factors, create unnecessary discrepancies and can artificially depress reimbursements. Our Pharmacy Revenue Improvement solution cuts through the clutter to ensure organizations are using best-practice driven, defensible pricing, coding and billing strategies.”
Panacea is hosting a complimentary webinar on November 16 at 1 p.m. Eastern time to discuss the top reasons why pharmacy revenue improvement should be your next project. The webinar will feature Robin Zweifel, BS, MT(ASCP), Panacea Senior Vice President of Revenue Capture, and Lidia Zekic Karp, RN, BSN, MA, AE-C, Panacea Clinical Product Manager.
Panacea’s enhanced Pharmacy Revenue Improvement solution uncovers coding and billing risks to ensure accurate payment. This is done through a detailed documentation review by pharmacy experts as well as a comprehensive analysis of charge capture processes and pharmacy chargemaster. The PHARMauditor tool used for the analysis includes more than 300,000 codes from the National Drug Codes database.
Panacea has found that most organizations can achieve accurate, compliant and defensible pharmacy pricing in three to six months through its Pharmacy Revenue Improvement solution. This timeline is dependent on the complexity of the organization, the average pharmacy having between 4,000 to 5,000 medications to review.
For more information on Panacea’s enhanced Pharmacy Revenue Improvement solution, attend the complimentary webinar November 16. Registration is available at https://attendee.gotowebinar.com/register/625663184540301315 . More details are also available by calling 1-866-926-5933.
About Panacea
Panacea, a Career Step company, helps healthcare organizations improve their bottom lines and strategic market positions with front-line expertise in revenue-cycle management, smart software and enterprise-level educational solutions. Designed for the healthcare professionals responsible for financial performance or compliance, Panacea helps identify opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.
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Contact: Marilyn Bunderson
[email protected] | 1-800-246-7837