Valuing a Comprehensive
Charge Description Master (CDM) Review
Elevating the CDM to its Appropriate Status in the Revenue Cycle
How does one measure the value of a Charge Description Master (CDM) review? Perhaps this process begins by determining your organizations perception of the value of the Charge Description Master itself. It should be viewed as one of your organizations most strategic assets. Often with management devoting much of their time to what may seem as larger and more important issues, the potential value of an accurate CDM may be unintentionally disregarded. Institutions can improve both their compliance, performance and overall bottom line when they recognize that the CDM can be a key control point within the revenue cycle.
One of the first steps is to elevate the organization's view of the Charge Description Master. Then to determine its appropriate status and establish internal procedures for the continuous, systematic review and maintenance of this important element in the revenue cycle.
Through continuing control of the CDM and the resulting claims by using numerous methods, a comprehensive picture of the charge process can be created. Pattern recognition, modeling, updates of regulatory data, logical coding relationships, measurement of financial exposure (based on the frequency of use and materiality), and an evaluation of the probability of error, are all used to create this.
By not only appropriately training staff, but adding an automated system, the basis of sustainable revenue cycle improvement, backed by strong internal controls can be introduced. Being able to prioritize action based on the materiality of a change to the overall process, as well as documenting and tracking changes to the CDM accountability.
Compliance is Integral to a Comprehensive CDM Review
The most important value of a CDM review is ensuring compliance with laws and regulations. Compliance is often overlooked, however when prioritized, the additional cash-flow and revenue is immeasurable. That is particularly true in these difficult economic times, when healthcare facilities are searching for ways to positively impact their bottom line.
The additional funds generated, tremendously outweigh the cost. The dual benefits of peace of mind regarding compliance and significant financial impact have always made the process worth undertaking and maintaining.
Securing the Benefits that a CDM Review Produces
We are pleased to offer customers a unique service to make it easier to understand and secure the benefits that a Charge Description Master review produces.
At no cost or obligation, we will conduct a preliminary review of your specific Charge Description Master(s). Identifying in advance, the benefits available to them as a result of conducting a full review. These preliminary results are available for review, within three (3) business days of receipt and verification of the customer specific data. Based on the projected benefits forecast by this preliminary review, the customer can make a more informed decision as to whether proceeding with the full review will produce sufficient compliance and financial improvement to warrant the undertaking.
While our standard flat rate continues to be available, it’s intended to allow prospective customers to better understand the benefit they will derive from a complete CDM review in advance of the undertaking. It’s just another way in which we can help reduce and/or eliminate any concerns the customer may have about the specific value that will be produced by a comprehensive CDM review.
Improving Bottom Lines – Regardless of Facility Type or Size
Regardless of size or type of facility, so many medical facilities have benefitted from our services. From the smallest of critical access hospitals to the largest of acute care hospitals, we can help you. We also work with physician billing groups, skilled nursing facilities, private, faith based, and government operated entities. Consider our new offerings as you contemplate the various ways to improve your bottom line.