ipl-logo

Chargemaster Case Study Answers

877 Words4 Pages

Case 2 - 6 Chargemaster Maintenance
What plan would you come up with?
The chargemaster is one of the most important financial aspect of a healthcare facility or hospital because the amounts listed on the chargemaster is what is charged to the patients. If the chargemaster has the wrong amounts on there, the hospital will be either losing revenue is the costs are lower than what they should be or they will be overcharging the patient. This will also be viewed as committing fraud against CMS and the hospital will ultimately be held responsible and would have to incur fines and penalties. A chargemaster automatically charges patients for all types of services, procedures, supplies and even medications that are provided from a list of prices …show more content…

Problem – The reason that she quit was because she was frustrated with her job.
Solution – Rather than getting frustrated and quitting, she should have approached her manager with her concerns and discuss possible solutions that could have taken place in order to rectify the situation.
Since there are thousands of different costs on the chargemaster, it really is a process in of itself to keep checking to see what prices have changed where. This is where the IT department can come in help speed up the process of finding out what changes were made to the costs and inform the proper manager of the changes being made to the chargemaster. The IT department can get the costs from CMS and run it against the chargemaster using the code set that is used for the various items listed.
This query can be done on a monthly basis and the IT department can provide the change report to the appropriate department, as well as the assistance director of HIM and Billing. With CMS coming out with new rules and code sets, it is imperative for the chargemaster to portray all the changes that are being made when the changes are reported from

Show More
Related
313 Words | 2 Pages

Medical biller is a position that will require you to take in medical claims and code them and bill out medical claims to insurance companies, Medicare and Medicaid on a daily basis. You will have to reconcile Explanation of Benefits (EOB) weekly. Verify if insurance companies require that patients get PA for certain procedure and products. Five requirements for Medical Biller position 1. How to bill claims 2.

Read More
484 Words | 2 Pages

It’s very crucial that the technology proposal includes these recurrent expenses established not only on current amounts, but also on the healthcare organizations’ future situation. In general, upcoming planning expenses have to account the employee’s resources that are required to meet the organizations’ needs. This would entail the support of administrative employee for the technology, overall technical support to maintain the organization’s growth and management capacity to maintain the organization’s strategic planning. This could be kept in-house or given to outside cohorts, but the expense implications of both models must be assessed as a component of the planning process. A lot of work and time should be set aside so the organization can isolate known and estimated expenses and develop and create them within the general organizational plan so they everyone know what they will need to pay for and when.

Read More
580 Words | 3 Pages

The CMS - 1500 form is to facilitate the process of billing by easily arrange in diagnoses and services provided that were necessary to treat patients. The form is divided into two major sections, patient and insured information and physician or supplier information. The upper portion of the form has 13 "Form Locators" ( boxes to be completed on the form) that contain 11 data elements and two signature form locators. The lower portion of the form consists of 20 form locators numbered 14 through 33 that contain 19 data elements, and one signature form locator. Form Locator 1- type of insurance

Read More
621 Words | 3 Pages

After each month, the manager and two other people that do not deal with the financial statements meet and look other each office. They look at their expenses, number of patients, and revenue. Once they look over them they decide if changes need to be made and if so how they will make the changes. I also learned about the ethics of their company and approaches they take to prevent possible

Read More
741 Words | 3 Pages

Billing 1 Week 2 DB Discuss the importance of knowing the processes and procedures used for receiving payment for services rendered under the contract provisions. It’s extremely important to understand both the process and procedures of securing payment for medical services under a managed care contract agreement. The process for receiving payment for services begins when the patient makes their initial appointment with a provider.

Read More
122 Words | 1 Pages

I agree with you that a nurse need to have entry level of CNA experience. You will gain valuable experience from the access to patient care, be aware that it is a real job of nursing field. I believe nurse with CNA experience are better prepared for the workload and health field environment. At least has had a picture of what to do with patient care and dealing with family and emergency situations. Charge nurses have a lot of responsible.

Read More
1027 Words | 5 Pages

The activities and formation of ACOs that do not fall within the "antitrust safety zone" will generally be evaluated by the Agencies under the Rule of Reason, which weighs the potential anticompetitive effects of collaboration against its potential pro-competitive effects, such as enhancing efficiency. The Policy Statement notes that the Rule of Reason will be applied by the Agencies "if providers are financially or clinically integrated and the agreement is reasonably necessary to accomplish the pro-competitive benefits of the integration." Converting from fee-for-service (FFS) model to value based reimbursement has brought many challenges to healthcare providers. These challenges include shift in payor mix, shared savings and increase in tracking provider quality and performance. The shift in payor mix relates to the decrease in commercial patients with higher reimbursement rates while Medicare and Medicaid patients with lower reimbursement rates will increase.

Read More
1185 Words | 5 Pages

In close participation with the Treasury and Labor Departments, CMS executes procurements on the protection change as to the 1996 Health Insurance Portability and Accountability Act (Booske et al., 2005). The Social Security Administration is responsible for determination of Medicare qualification and Medicare premium installments. The Chief CMS Actuary is responsible for giving expense projections and bookkeeping data to the Medicare Board of Trustees while helping them in the evaluation of the accounts circulated for the wellbeing a portion of the system. On yearly premise, the Board issues reports giving pertinent information on the monetary situation of the Medicare Trust Funds (Booske et al., 2005).

Read More
1216 Words | 5 Pages

An Analysis of Lincoln Electric Company’s Culture through Assessment of its Case Study After thorough investigation of the Lincoln Electric Company’s (LEC) Harvard Case Study, certain understanding and reflections may be made about the company’s culture from a multi-faceted perspectives such as the visual aspects of culture and its maintenance dynamics as observed in the textbook’s Chapter 8. ( Carpenter, Taylor, & Erdogan, 2009) Continuing Influence of Founders at Lincoln Electric It is easily evident from the case study that the diverse aspects of LEC’s operations --- from investors, employees, and customers to how the senior management conducts and approaches its business --- all reflect the philosophy, vision, and ideals of its founders:

Read More
1122 Words | 5 Pages

Without proper reimbursement it is practically impossible for providers to render healthcare services to the patient

Read More
869 Words | 4 Pages

Based on this case the cost driver is to properly distribute the direct cost among the different divisions. Dr. Julian would like to control her departments costs by having them distributed fairly among the divisions without affecting the hospital’s reimbursement/revenue. Carroll University Hospital is currently using the standard costing unit, which is based on the cost of bed/day for inpatients. Currently the present cost accounting system that is being used at CUH takes the total direct cost of the departments, then allocates the indirect costs and distributes it among the departments evenly regardless of the actual resources being used in those departments, and without considering that there may be some patients in these divisions that may require more resources than others, this method does not seem to recognize the different activities,

Read More
1770 Words | 8 Pages

Also, various methods of controlling costs such as standard costing system and flexible budgets have close relation with the variable costing system, in turn making it easy to use those methods. 3. Companies using variable costing system are able to prepare income statement in contribution margin format that provides necessary information for cost volume profit (CVP) analysis. On the flip side, this data cannot be directly obtained from a traditional income statement prepared under absorption costing

Read More
974 Words | 4 Pages

Sembcorp Industries (SCI) is a Singapore-based industrial conglomerate with business interests in: 1) utilities (primarily on electricity generation and wastewater treatment); 2) offshore/marine through its 61%-owned subsidiary Sembcorp Marine; and 3) urban development (developing industrial parks). SCI is 49.55%-owned by Temasek (AAA/Aaa), a government-owned holding company that has equity stakes in several strategic companies in the country. Investment Rationale : We rate SCI as BBB with one notch uplift from the potential support from Temasek. The rating is underpinned by its strong track record in utilities and marine business.

Read More
735 Words | 3 Pages

EXECUTIVE SUMMARY EMPLOYEES RETENTION Employee retention means to retain the employees in the organisations and not giving them chance to leave the organisations at any cost. The burly block for any organisations is just not to get the best employees for the organisations, but to also retain them in the organization. There are number of reason because of which an employee leaves or try to quit the job, some of them are: 1.

Read More
839 Words | 4 Pages

We are experts in dealing with getting our imported products in the hand of customers directly. The teamwork in the workplace is essential to the success of business. When the team work together, we understand the strength and weakness of each team member. It mainly depends on the team leader in dividing up the tasks and getting things done by through the qualified members. Delegation of responsibilities has been practising in each team.

Read More

More about Chargemaster Case Study Answers

Related Topics

Open Document