Charge Descriptions: Five Foundational Guidelines

Learn the best Strategic Approaches to your Charge Descriptions Policy

Charge descriptions are key data elements in the charging file of a hospital, clinic, or physician billing system. They are frequently reported on revenue-oriented reports such as charge description master (CDM), revenue & usage, statistics, and others, and are key to complete and accurate chargemaster maintenance.

Despite their importance, many teams have not fully considered the implications of CDM descriptors on charge integrity or file management. Charge descriptors may be placed at a lower priority, believing they carry little risk.

In our latest article, our CDM team covered charge descriptions in detail. Among the highlights were the 5 Rules of Charge Descriptions that proactive hospitals can use as foundational guidelines:

1.     Be Accurate and Specific

2.     Clarity is Key

3.     Include Key Verbiage

4.     Follow Hospital-Defined Standards

5.     Ensure Consistent Verbiage

Also included were common pitfalls to look out for, as well as information on how our Chargemaster Solutions can help your organization maintain these standards.

Read the full article to learn more…

Take Your Charge Management to the Next Level

ChargeAssist is a Cost-Effective Total Charge Management Solution

ChargeAssist®, Panacea’s enterprise-wide charge management solution, is utilized by some of the most prestigious hospitals, healthcare systems, and industry-leading Chargemaster and Revenue Cycle Management experts. Our software combines chargemaster auditing, charge benchmarking, charge change workflow management, regulatory resources, and enterprise-level support.

The solution includes:

·       Pre-built Auditing Protocols, making auditing faster to perform and easier to complete

·       Research and modeling for unlimited hospital, physician and other provider charges

·       Automated Processes for collaboration and documentation of charge changes

·       The market’s most robust coding and regulatory resources

Learn more about what ChargeAssist can do for you…

Compliance and Auditing Mistakes to Avoid

Making Compliance a checkbox means you are missing out

In today’s environment of increasing regulatory insight and ever-changing reimbursement policies, far too few healthcare organizations make compliance and auditing a priority. Done right, they can help organization better serve patients, mitigate risks, and improve reimbursement.

Even those with plans for compliance and auditing in place might be missing out. In a recent article, we at Panacea compiled some common pitfalls which should be avoided when creating and implementing an auditing plan, including not jumping right in, knowing the auditors, and never forgetting to skip implementation.

Move Past the Compliance Checkbox and Read More…

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To learn more about Panacea Healthcare Solution, visit us at panaceainc.com.