PatientKeeper Launches Charge Aggregator Solution to Streamline Healthcare Billing for Health Networks
WALTHAM, Mass., Oct. 14, 2020 /PRNewswire/ -- PatientKeeper®, Inc. a national provider of electronic health record (EHR) optimization software solutions, today announced the immediate availability of PatientKeeper Charge Aggregator™. This software enables a healthcare network's central billing office (CBO) to efficiently consolidate, reconcile, and process charges generated across multiple facilities, specialties, and systems.
The PatientKeeper Charge Aggregator launch comes at a critical moment for healthcare, as consolidation continues to occur at a rapid rate. One Deloitte study estimates that the rate of hospital acquisitions will leave only 50 percent of current health systems remaining in 10 years. This degree of consolidation leads to many health systems working with an average of 16 different EHR vendors at any given time, which makes it time and labor intensive for CBO professionals to access, confirm, and process clinical charges.
PatientKeeper Charge Aggregator provides billers and coders, many of whom are working remotely amid the pandemic, user-friendly technology to efficiently consolidate and normalize charges coming from multiple EHRs and hospital departments. It also utilizes automated logic to optimize the billing process. When used in conjunction with PatientKeeper's charge-note reconciliation tool, billing professionals can match charges to clinical notes to help ensure billing accuracy and completeness.
Using PatientKeeper Charge Aggregator increases the volume of a hospital's billable charges by an average of 20 percent, potentially leading to millions of dollars in previously lost revenue. This equates to an estimated extra $1,500 in billing per month per hospitalist, with additional opportunity for specialists.
"At a time when COVID-19 has devastated the traditional workflow and finances of many health systems nationwide, we are proud to offer a product that can help improve a provider organization's bottom line quickly," said Amy Sullivan, Vice President of Revenue Cycle at PatientKeeper. "We know that many billing professionals spend hours trying to compile and make sense of various professional charges, and often have to track down their colleagues for clarity. Charge Aggregator can help directly reduce that burden and increase workflow efficiency in the CBO."
Moffitt Cancer Center in Tampa, Florida, was an early adopter of PatientKeeper Charge Aggregator.
"At Moffitt, the use of multiple specialty systems creates a challenge for managing the coders' work. With PatientKeeper Charge Aggregator, we are able to pull in charges from disparate systems throughout the hospital, such as the Pathology, Radiology, and Radiation Oncology, into one foundational and flexible platform," said Hilda Garcia, Supervisor, HIM Professional Practice Coding. "Without this technology, my team could not have a standard workflow, and I would not be able to easily manage the charges that they code across the organization."
PatientKeeper's product launch is especially timely as healthcare providers and billing teams prepare to meet the annual ICD-10-CM diagnosis codes changes, effective October 1, 2020, and the Current Procedural Terminology (CPT®) code annual changes, effective January 1, 2021. With PatientKeeper Charge Aggregator, these often-confusing code changes that result in millions of dollars in lost revenue, can be streamlined on the back-end saving both providers time and hospitals lost revenue.
About PatientKeeper, Inc.
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SOURCE PatientKeeper, Inc.