Global Healthcare Exchange has introduced three new consulting services to help hospitals improve efficiency and accuracy for the billing of implantable device supply chains.
The new services offered by GHX are intended to automate supply chain billing, which historically has caused revenue losses upwards of $5 billion, according to a news release. The three new services are:
1. Healthcare Common Procedure Coding System Association Service — GHX assigns HCPCS to products used in the implantable device supply chain, many of which have never previously had an HCPCS code. Assigning these codes provides more accuracy for the billing and reimbursement of devices, says the company.
2. Item Master/Charge Master Synchronization Service — The HCPCS code links an item master and purchase order with its charge master. Synchronizing these two functions reportedly keeps data accurate and relevant from the time a case is opened until the billing process and helps reduce transaction errors.
3. IDSC Trading Partner Acceleration Service — This service reduces time and potential for errors by electronically sending bill-only and consignment purchase orders to participating suppliers.
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