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3M upgrades online charging software to boost revenue opportunities

3M Health Information Systems : 29 August, 2007  (New Product)
3M Health Information Systems has upgraded the company’s web based chargemaster management solution, 3M Chargemaster Online, with advanced charge capture features that alert healthcare organizations to revenue opportunities that may have been overlooked.
The software analyses all procedures itemised in the chargemaster and automatically identifies related procedures or devices which may be missing or for which charges may not have been generated. Upon review, facilities can take corrective action to improve charge capture and revenue.

The new release of 3M Chargemaster Online offers greater control over the chargemaster for multi-facility organizations by allowing a central chargemaster to be designated as the corporate standard. The software can then be used as a template by all facilities to simplify the process of maintaining compliance with coding regulations.

In addition, cross-departmental communication is streamlined with enhanced workflow features, including updated forms, assigned approval teams, and user-friendly email functions that accommodate multiple requests on a single form.

“With hospitals today operating on such small margins, it is critical that all appropriate revenue be captured,” said Jerry Kolosky, vice president, Medical Necessity and Compliance Solutions for 3M Health Information Systems. “With this new version of 3M Chargemaster Online, we’re providing a robust solution for identifying revenue opportunities that could easily be missed. By offering an even greater selection of workflow enhancements, we can also help our customers promote effective chargemaster management and improve the bottom line.”

3M Chargemaster Online combines advanced software with onsite support from chargemaster experts to provide a complete solution. These experts address specific problems identified by the software and work with facilities to align the chargemaster update and maintenance process between the hospital’s ancillary departments, finance, patient accounts, and health information management.

Healthcare organizations avoid a long and involved manual review of chargemaster items, and instead can focus immediately on correction and education.

A dedicated medical informatics team continually updates 3M Chargemaster Online with the latest coding and regulatory changes. The software is available in an ASP model accessed through Windows Internet Explorer.
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