CHICAGO, IL--(Marketwired - January 11, 2017) - The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, Craneware, Inc. has once again achieved the "Peer Reviewed by HFMA®" designation for its Chargemaster Toolkit® product.
The chargemaster is increasingly critical for tracking and understanding all the components of a particular service line. That said, the completeness of the chargemaster is becoming even more pivotal as hospitals and health systems build their value-based care strategies. Through the use of Chargemaster Toolkit, these organizations can:
- Enable hospitals and health systems to review pricing against peer and fee schedule benchmarks
- Increase operational efficiency through workflow and efficient integration
- Better understand where revenue is at risk to prevent lost opportunities
- Reduce unbilled clinical services and coding errors
- Better understand what best practices identify as billable services
"We are honored to receive this recognition from HFMA, an organization that has built a tremendous peer review program that is well-respected throughout the healthcare industry," said Mark Montgomery, chief marketing officer for Craneware. "It also recognizes the efforts of our employees and clients in creating a product that can achieve this designation year over year."
HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel review comprising current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the healthcare business solution and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
"We're pleased to have Craneware renew their HFMA Peer Reviewed designation," said HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. "The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed healthcare business solution meets an objective, third-party assessment of overall effectiveness, quality, and value."
With more than 40,000 members, the Healthcare Financial Management Association (HFMA) is the nation's premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care. hfma.org
Craneware (AIM: CRW) is the market leader in software and supporting services that help healthcare providers improve margins so they can invest in quality patient outcomes. The company's flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle - Chargemaster Management since 2006 and is part of our value cycle management suite, which includes Patient Engagement, Charge Capture & Pricing, Coding Integrity, Revenue Recovery & Retention, and Cost Analytics solutions. Learn more at www.craneware.com.