Charge Master
Receiving reimbursement for healthcare services is a complex process for any healthcare system. Efficient implementation and maintenance of the hospital Chargemaster or Charge Description Master (CDM) plays a critical role in revenue cycle integrity. Maintaining accurate costs, definitions, and codes is central to a hospital’s business performance and key to receiving proper reimbursement for services rendered.
Features
FastFlow provides the automation and collaboration tools enabling healthcare organizations to maintain their Chargemaster for improved operational efficiency, regulatory compliance and reimbursement.
The processes in place to maintain the Chargemaster data determine the accuracy and effectiveness of the Chargemaster. FastFlow implements processes for managing and maintaining Chargemaster data. FastFlow’s flexible features support:
- Automation and standardization of request and authorization procedures
- Formalized communications and collaboration
- Notification of affected staff and departments
- Audit trail
Benefits
The results of proper Chargemaster maintenance include minimized compliance risk, increased revenue opportunities, and reduced risk of improper claims that lead to rejections, underpayments, overpayments, audits, fines, and penalties. The FormFast Chargemaster Maintenance Workflow drives the following benefits:
- Improves reimbursement
- Ensures that prices are uniformly applied
- Identifies lost charges
- Reduces problems that may surface during an audit
- Reduces resource utilization and costs
- Allows the facility to aggregate cost data to determine the actual cost of a service
- Improves billing accuracy, training, communications, and implementation of the changes
- Ensures full implementation of Chargemaster changes
Employee Evaluations
