Debunking the Myth: Why Charges Still Matter in the Age of Pricing Transparency
The push for health care price transparency is nothing new and can be traced back almost 20 years. When CMS released their proposed 2019 Inpatient Prospective Payment System (IPPS) rules including “requirements for hospitals to make public, a list of their standard charges via the internet”, it further underscored CMS’ continued effort for hospitals and health systems to provide price transparency. Read more
It’s a Fact: Revenue Integrity Programs Increase Net Revenue
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 […]
Does your organization have a strategic plan to address CMS FY19 IPPS proposed rule that requires hospitals “to make public their standard charges via the Internet?”
Written By: Fred Stodolak, Executive Vice President, Mark Spehar, Senior Vice President, Financial Services, Henry Gutierrez, Vice President, Financial Services
There is an increasing debate surrounding CMS FY2019 IPPS proposed rule, published April 24, that would require hospitals “to make public a list of their standard charges via the internet.” Discussions around this topic have pointed out a number of valid arguments:
Panacea to Present Education Session on Pricing Transparency at HFMA 2019 Virtual Conference on Consumerism, Cost and Compliance
St. Paul, MN – April 9, 2019 – Panacea, a leading provider of mid-revenue cycle management software, consulting and educational solutions, is proud to announce that Senior Vice President Mark Spehar and Executive Vice President Frederick Stodolak will present at the Healthcare Finance Management Association’s (HFMA) 2019 Virtual Conference on April 18, 2019 from 1:00-2:00 p.m. Central Time. Their session is titled “The Pricing Transparency Conundrum – Juggling Rational Price Development with Healthcare Consumerism Leading Practices.”
Panacea Announces Enhanced Pharmacy Revenue Improvement Solution
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
pr@careerstep.com | 1-800-246-7837
Payer Denials: Can You Win on this New Battleground?
In today’s complex health care environment, in which CMS and insurers each maintain their own claims-related “rules,” disputes, DRG downgrades and denials are all-too common. Read more
