MedAssets Releases New Version of CrossWalk(TM), Offering Easy Evaluation of Multiple Pricing Strategies.ATLANTA -- MedAssets has released the latest version of CrossWalk,(TM) the only technology that automatically and continuously links a healthcare provider's supply cost data to the charge data to ensure charges cover costs with a reasonable, payer-compliant markup (text) markup - In computerised document preparation, a method of adding information to the text indicating the logical components of a document, or instructions for layout of the text on the page or other information which can be interpreted by some automatic system. . CrossWalk version 1.7 features a new Markup Matrix Simulator (1) Software that enables the execution of an application written for a different computer environment. Same as emulator. (2) Software that models the interactions of hypothetical or real-world objects or business processes. , which allows hospitals to develop, modify and apply a single markup strategy to different high-cost departments, and revenue and/or charge codes. With the Markup Matrix Simulator, providers can evaluate the multiple pricing strategies There are many ways in which the price of a product can be determined. The following are the foremost strategies that businesses are likely to use. Competition-based pricing Setting the price based upon prices of the similar competitor products. to ensure a compliant yet flexible pricing strategy. User-based Linking is an additional key feature of CrossWalk version 1.7. CrossWalk creates links between a hospital's Item Master file and Chargemaster, which eliminates the time-intensive, manual updating of ever-changing charge data. The User-based Linking function identifies unlinked items and allows users to establish the link immediately to avoid losing revenue dollars. CrossWalk version 1.7 also adds functionality to provide users with more action-oriented reports, including: --Key Action Item Reports, which are pre-filtered reports that highlight data points that may require immediate attention and action such as when a supply's cost exceeds the charge. --Report Filters, which allow users to generate reports on various subsets of data, including filters by department, by cost and by charge as well as other useful parameters. "Because many states have adopted or are considering adoption of 'open Chargemaster' legislation and consumer-driven health plans are a growing trend, it is critical that a hospital's stated pricing strategy be defensible de·fen·si·ble adj. Capable of being defended, protected, or justified: defensible arguments. de·fen , transparent and completely implemented across their organization," said Kate Banks, senior vice-president at MedAssets Net Revenue Systems. "CrossWalk provides a continuity of data across the hospital's financial continuum Continuum (pl. -tinua or -tinuums) can refer to:
Initially launched in March 2005, CrossWalk is the keystone key·stone n. 1. Architecture The central wedge-shaped stone of an arch that locks its parts together. Also called headstone. 2. The central supporting element of a whole. of the Merge Technology(TM) platform, MedAssets' suite of revenue cycle and supply chain technology applications designed to solve healthcare providers' key operational problems to dramatically improve cash flow from existing operations. About MedAssets MedAssets, headquartered in Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. , improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10 % and increase net patient revenue by 1-3 %. Proprietary information technology is used to work with and improve existing IT assets and work processes. MedAssets, through its revenue cycle subsidiary MedAssets Net Revenue Systems, provides best-of-breed revenue solutions including strategic pricing, pre-bill charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. In addition, MedAssets offers technology enabled denials management, and the only technology enabled system that links supply cost data with charge data to ensure accurate charges and defendable markups for all patient identifiable supplies, including costly medical devices. MedAssets, through its supply chain subsidiary MedAssets Supply Chain Systems, operates the fastest growing group purchasing organization A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. and supply chain services company in the U.S. and builds customized solutions encompassing procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition Food and Nutrition See also cheese; dining; milk. accubation Rare. the act or habit of reclining at meals. alimentology Medicine. thescience of nutrition. allotriophagy Pathology. items, and capital equipment. For more information about MedAssets go to www.medassets.com or contact Gary Johnson Gary Johnson may refer to:
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