Hospital Prevents Revenue Leakage with Craneware Solutions

Monday, June 21, 2010 Hospital News
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ATLANTA, June 21 Craneware, Inc. (AIM: CRW.L), the market leader in automated revenue integrity solutions that improve healthcare providers' financial performance, will present a peer-review session at the Healthcare Financial Management Association (HFMA) 2010 ANI: The Healthcare Finance Conference, scheduled for June 20-23, 2010, in Las Vegas, Nev.

Presented in conjunction with Parkview Health, an eight-hospital system in Indiana, the session, "Parkview Health: Linking Pharmacy with Billing Finds $10M Revenue Variance," will demonstrate the importance of understanding the strategies and considerations for modernizing pharmacy revenue management processes.

Kathy Lytal, director of revenue integrity at Parkview Health, and Kelley Blair, Craneware's vice president of professional services, will share how the hospital increased visibility into pharmacy business processes, identified valuable process improvement opportunities, and now supports continuous monitoring and comparison of interdependent pharmacy systems and processes using automation.

Pharmacy represents a significant portion of a healthcare organization's operating expense, closely following salaries and the supply chain. Parkview Health's pharmacy leadership, in addition to their commitment to medication safety and quality, is also accountable for financial management. Pricing, charging and coding for healthcare supplies and services is a continually changing, highly complex process for all healthcare providers today. Rather than being consumed with data manipulation and analysis in the complex, ever-changing pharmacy environment, Parkview efficiently manages continuous process improvement in their pharmacy financial management from procurement to distribution by connecting pharmacy purchasing and revenue cycle processes. Parkview will review their process of evaluation, and the actions they have taken as an organization to optimize revenue, ensure compliance and minimize risk.

At the show, Craneware will also preview its soon-to-be-released product, Value-based Pricing Analyzer(TM), in its booth, #225. This new Craneware Revenue Integrity Solutions(TM) tool will facilitate meaningful, quality price comparisons. It is part of Craneware's Strategic Pricing product family, which increases hospitals' visibility into their business processes to support effective appropriate pricing and strong financial performance. Value-based Pricing Analyzer addresses hospitals' growing needs to optimize reimbursement, increase operational efficiency and minimize compliance risk.

Craneware serves more than 1,000 healthcare provider organizations and maintains a focus on increasing hospitals' visibility into their business processes to ultimately prevent revenue leakage. As part of its commitment to financial performance improvement in healthcare organizations, Craneware launched the educational campaign, "Stop the Leakage." Industry best practices, in-depth white papers and success stories are available at stoptheleakage.com.

View the social media release at http://pitch.pe/71216.

About Craneware

Craneware (AIM: CRW.L) is the leader in automated revenue integrity solutions that improve financial performance for healthcare organizations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. This optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.

SOURCE Craneware, Inc.


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