Here are five hospitals that saved money by making certain adjustments or tweaks within their revenue cycle process. Each of the hospitals were highlighted in a Craneware case study.
1. Kingman (Ariz.) Regional Medical Center saved $1.1 million within its pharmacy department.
2. St. Joseph Healthcare in Bangor, Maine, recouped $153,000 in lost charges by improving its chargemaster management.
3. Glens Falls (N.Y.) Hospital gained $300,000 in net revenue by automating certain parts of its revenue cycle.
4. Hendrick Medical Center in Abilene, Texas increased gross revenue by $1.5 million per month by switching to a new pharmaceutical chargemaster system.
5. Adams County Regional Medical Center in Seaman, Ohio, identified about $1.3 million in savings by improving pricing, charging and coding.
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