Revenue cycle management software vendor Craneware Inc. has added functionality in a new version of its Pharmacy ChargeLink data analytics application for hospital pharmacies.

Version 3 of the software, for instance, enables the linking of inpatient and outpatient data, along with an expanded payer mix, to prioritize areas mostly likely to yield financial improvement, according to the Atlanta-based vendor. Other new functions include:

* Use of filters to identify drugs in the chargemaster with missing or incorrect units of measure;

* Comparison of what affiliated facilities pay for identical or dispensing-equivalent medications;

* Expanded benchmarks against which to monitor drug costs, including wholesale acquisition cost, suggested retail price and the direct price from the manufacturer;

* Guidance to appropriately bill for drugs that often are self-administered, using determinations from the local Medicare contractor; and

* Quantification of the true cost of physician prescribing preferences to stimulate conversion on achieving savings from dispensing equivalent medications.

More information is available at craneware.com.

 

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