Today’s environment necessitates that healthcare CFOs and financial managers explain, document, and defend the rationale behind their CDM prices.
Since the October 1, 2015 commencement of I-10, both case mix index trends and CC/MCC capture rates nationwide have improved by 2.8% and 0.8% respectively.Years of coding and documentation training to address the tenfold increase in available codes and the need for improved specificity and documentation under I-10 appears to be paying off overall.
Restructuring of the hospital’s chargemaster in this era of transparent pricing often results in material increases and decreases in line item charges to align with market norms, unit costs, or a hybrid thereof. Learn how your organization can enhance its financial performance in this environment.
Hospital leadership responsible for achieving financial goals that include revenue growth, expense management, and operating margins is facing the growing importance of chargemaster integrity. We attribute the challenge of managing financial goals to the accuracy of charge data, complex systems impacting the ability to view the data, and the rapidly changing healthcare environment.