MedAssets Launches New Chargemaster Management Solution

Further enhancing its position as a market leader in revenue cycle management, MedAssets Net Revenue Systems announces the general release of CDM Master™, the next generation of chargemaster management technology.

CDM Master raises the bar for chargemaster management by incorporating price defensibility capabilities using proprietary benchmarks that cover 100% of the chargemaster, best practice recommendations for coding and compliance, and unmatched capabilities for managing chargemasters for multi-hospital systems.

The defensible pricing component of CDM Master provides the ability to compare a hospital’s pricing against local fee schedules, pricing percentiles, and CMS hospital pricing data. All payor custom and regional pricing benchmarks are also available. This feature allows facilities to compare 100% of their charges against similar facilities regionally and nationwide to ensure their charges can withstand public scrutiny and remain competitive in their market.

“In response to customer feedback and the current transparency trends in healthcare, we created a chargemaster tool that assists healthcare providers in preparing their chargemaster for public consumption while remaining compliant with current regulations and optimizing revenue,” said Kate Banks, senior vice president, MedAssets Net Revenue Systems. “Charging correctly for services is paramount for healthcare facilities, because it speeds reimbursement, increases net revenue, and improves patient satisfaction.”

CDM Master’s integrated work flow management capabilities enhance the communication process and improve accountability and turnaround time. The user-friendliness of the tool decreases user training time and increases adoption in non-power user staff. The web based application requires minimal IT commitment and improves performance and usability of the system.

“CDM Master is an easy to use, full service maintenance system that provides our facilities with the tools necessary to help keep our chargemaster accurate and compliant,” said Margaret Hamilton, manager, Rate Setting, Memorial Hermann Healthcare System. “The dashboards, workflow options and KnowledgeMaster have noticeably minimized the number of coding related compliance issues and simplified the overall process resulting in a more effective chargemaster management team.”

CDM Master offers easy access to the KnowledgeMaster, MedAssets’ repository of best practice data. The tool points out missing charge codes where potential revenue may be missed and allows the user to add the missing code from the MedAssets Best Practice CDM with one click.

“Our customers told us that it is a significant challenge to maintain revenue integrity while capturing the most revenue possible,” stated Banks. “CDM Master, as a stand alone product or in conjunction with our other revenue cycle management tools, helps our customers reach this goal and improve their bottom line.”