From the Premier Inc. blog:
“Health systems concerned about the financial impact of COVID-19 are strategizing recovery options that may include rapid margin improvement or a shift toward more value-based payment models. Key to recovery will be tactics that do not just reduce expenses, but also grow revenue.
A health system’s pharmacy is ripe with these types of opportunities. Patient drug charge validation is a great starting point.
“Charging for medications in a hospital has always been complicated. Multiple interfaces from pharmacy information systems to revenue codes and credits for drugs sent to patients but not used, all lend to this complex task. Responsibility for these processes is divided between multiple individuals in the pharmacy department, while the duty of charge capture often falls outside of the pharmacy departments’ zone of responsibility in patient care areas.
“The effort to scrutinize the processes used in pharmacy charge capture must span departments and sites of care. Many successful sites have a pharmacy revenue working group to handle issues that arise in…”