Being hospitalized for anything from an infectious disease to a near-deadly car crash can be a harrowing experience for any patient. Aside from adhering to treatment and rehabilitation, patients also need to worry about the cost of their health care while admitted. Medical bills can rise sky high, especially for those paying out of pocket, and include everything from admission, consultation, diagnostic testing, treatment, monitoring, up until the patient’s discharge from the hospital.
In order to diminish the amount of stress on hospital patients and administration, it’s imperative that every procedure and treatment costs were fully and accurately inputted and calculated before printing out the bill. However, no system is perfect and charge codes assigned to every procedure done and supply and service given may lose accuracy as time passes. The solution to this problem can be found using cdm charge master technology to ensure that information received and submitted are accurately inputted.
The Chargemaster (CDM) as the name denotes, is a database that functions to store all the charge codes in the hospital’s service and supply procurement system. Because the prices and availability of services can change over a short amount of time, the charge codes may not accurately reflect the new additions and changes, which in turn disrupts the accuracy of the CDM. This lapse of continuity can result in missed fines, which would cost the hospital large sums of money in the long run. Even if the mistakes are corrected later on, a patient who was already discharged would be disgruntled to find that the hospital would send a bill months later stating that there were missing payments due to a maladjusted CDM. Thus, in order to maintain the hospital’s reputation and revenue, it would be prudent to invest in a proper CDM review to keep all charges accurate.