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MedAssets® Helps Hospitals Improve Revenue Integrity

Atlanta, GA

MedAssets Net Revenue Systems® today announced the release of enhanced workflow capabilities within its CDMMaster™ product. CDM Master workflow enhances hospitals’ revenue integrity by enabling managers to disperse chargemaster information and assignments to revenue stakeholders organization-wide and, subsequently, to track task status and completion. The ability to provide actionable information and monitor performance hospital-wide ultimately helps to increase regulatory compliance and reimbursement accuracy. CDM Master, launched in February 2007, raises the bar for chargemaster management by incorporating price defensibility capabilities using proprietary benchmarks that cover 100% of the chargemaster, best practice recommendations for coding and compliance and unmatched capabilities for managing chargemasters for multi-hospital systems.

The new CDM Master workflow functions create visibility and accountability into department performance and speed response time for chargemaster additions and updates. The automated workflow process also eliminates the variability of sharing information via email and serves as a single source for chargemaster update/change status and history. These processes reduce the risk of errors, duplication of work and the possibility of overlooking chargemaster change requests. Configurable data access provides customized security levels to share appropriate chargemaster information across the organization without risk. Additionally, CDM Master’s workflow components facilitate compliance with internal controls and regulations. The tracking mechanism prepares an audit trail defining explanation and timing of changes and documentation of staff completing assignments.

“Organized workflow helps organizations achieve maximum performance and provides complete documentation of work to enhance revenue integrity,” stated Kate Banks, senior vice president, MedAssets Net Revenue Systems. “Equipping staff hospital-wide with specific action items speeds turnaround time, reduces billing errors downstream and increases overall productivity.”

Setting this product apart from other chargemaster products, the defensible pricing component of CDM Master provides the ability to compare a hospital’s pricing against local fee schedules, pricing percentiles and publicly available CMS hospital pricing data. All payor custom and regional pricing benchmarks are also available. Benchmark data is blinded in order to maintain confidentiality between facilities. These features allow hospitals to compare 100 % of their charges against similar facilities regionally and nationally to ensure their charges are reasonable and competitive in their market. The workflow functionality further enhances the effectiveness of the tool by organizing tasks to realize full benefit of the technology’s power.

“Revenue integrity should be one of the main goals of any healthcare organization,” continued Banks. “An accurate, up-to-date chargemaster is an essential step in proper reimbursement for services. Workflow ensures accuracy while price defensibility protects reputation. CDM Master is a powerful tool for hospitals seeking help with charges.”

CDM Master workflow enhancements are provided free of charge to all current CDM Master customers.
CDM Master has earned Peer Reviewed status from the Healthcare Financial Management Association. For more information about CDM Master, visit MedAssets Net Revenue Systems’ website at /RevenueSolutions/cdm.htm.

About MedAssets
MedAssets partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers. For more information, go to www.medassets.com