RCM tip of the day: Standardizing the chargemaster

Hospitals should use proper planning and resource assignment to facilitate a process for standardizing their chargemasters, advised Elaine Dunn, vice president of systems integration for Craneware, a provider of automated value cycle solutions.

She offered these guidelines to help ensure an optimal chargemaster standardization: 

1. Understand the extent of work needed for chargemaster standardization.

2. Create comprehensive guiding principles early on. Ms. Dunn said this is a foundation for effective standardization and best practices.

3. Distribute the right resources with the right time allocation. 

4. Use the standardization process to identify and improve the accuracy of reimbursement for services. 

If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.  

 

More articles on healthcare finance: 

Vermont hospital considering partnerships, bankruptcy as financial struggles drag on: 8 things to know
Johns Hopkins Hospital CFO Daniel Smith on the value of EMRs
Prior authorization rules delay lifesaving cancer treatments, physician survey finds

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months