Managing a Compliant Chargemaster – The Backbone of your Revenue

Hospitals face ongoing challenges when it comes to protecting their revenue, particularly in environments with high expenses and declining payer reimbursements. To address these challenges, hospitals must ensure that their financial systems, processes, and policies are efficient and accurate to protect revenue for the services they deliver to their patients.

During this webcast, Stephanie Volante, MPH, will review best practices, guiding principles, and recommendations for chargemaster management to help hospitals staff CDM departments appropriately, implement change management controls, and operate with efficiency and standardization.

By attending our webcast, you’ll gain insight into how to review comprehensive components of the CDM to validate appropriate HCPCS and revenue code assignments for chargeable services, as well as other valuable evaluation techniques necessary to upkeep a compliant chargemaster.

Why This Is Relevant:

Managing the chargemaster is an essential aspect of ensuring financial compliance and protecting revenue. Here are some key points to consider:

• The chargemaster is the master file that represents all services that can be rendered and charged to patients throughout the entire healthcare experience.
• The accuracy of the chargemaster master file and review/update processes can be impacted by a variety of factors.
• It is important to hire or contract the correct skill sets to maintain ownership, control, and accountability of the chargemaster master files.
• Industry standards require scheduling a 2-3 year external review process with an outside vendor to ensure compliance with best practices, managing “at-risk” data, and establishing consistent control processes for changes in the files.

Learning Objectives:

• Understand Chargemaster Priorities and Authoritative Guidance
• Define and Manage “At Risk” Data in the Chargemaster
• Understand CDM Comprehensive Review Components
• Identify Usage of Chargemaster Software and Skills Necessary for CDM Management
• Develop Internal Controls for Change Management

Who Should Attend:

Chargemaster managers, coordinators, and specialists; revenue integrity management and staff; financial analysts; patient financial services; compliance officers; managed care contracting staff and managers; payer relations staff; finance leaders and reimbursement leaders; and facility C-suite executives.