MedAssets Net Revenue Systems Releases Update to Hospital Pricing Simulator

MedAssets Net Revenue Systems announced today the release of the latest version of CrossWalk(R), the only technology that automatically and continuously links healthcare provider’s supply cost data to charge data to ensure charges cover costs with a reasonable and defensible markup. The new release adds greater flexibility and accuracy when defining a mark up strategy based on acquisition costs of supplies. CrossWalk’s capabilities and latest enhancements allow business managers to simulate actual or anticipated cost increases’ impact on revenue and incorporate those anticipated cost increases when building their markup strategies using CrossWalk’s Markup Matrix Simulator.

CrossWalk version 2.6 provides greater functionality that improves a hospital’s ability to capture the correct revenue and improve coding compliance. A newly created chargemaster restructuring report within CrossWalk aids hospitals in restructuring their CDM implementing best practice recommendations for charging for all items within the supply item file.

In addition CrossWalk V. 2.6 provides a Cost Variance Report making it easy to identify supply items that roll up under a single charge code that have a wide cost variance. This report will be particularly effective in identifying charge codes that may be too generic, causing a facility to lose revenue.

"The continuing development of CrossWalk is further equipping hospitals to make informed decisions about charging for supplies and creating optimal pricing strategies," stated Kate Banks, senior vice president, MedAssets Net Revenue Systems. "The increasingly sophisticated linkage of supply cost data and charge data through CrossWalk is allowing for better control and accuracy in both sets of data and providing transparency into hospital finances previously unavailable."