Panacea Announces No-Cost Diagnostic Review of Hospital Chargemaster Ahead of CMS Final Rule Posting Deadline
The comprehensive diagnostic review includes analysis of CMS Price Transparency shoppable items and services to alert providers of risks and opportunities.
St. Paul, MN, November 24, 2020 --(PR.com)-- Panacea Healthcare Solutions, Inc., the leader in healthcare coding compliance software and consulting services, announced today they are offering health systems a no-cost diagnostic review of their entire chargemaster pricing and drug prices and methodologies. This review will also provide special analytics related to the CMS Price Transparency shoppable items and services requirement and will identify key areas of risk and opportunity. To learn more, providers should visit Panacea’s CMS Price Transparency webpage.
Less than six weeks remain for providers to comply with the January 1, 2021, CMS Price Transparency deadline. The rule requires hospitals to include the gross charges and negotiated rates for ALL items and services in a machine-reachable file, and where applicable, prices or charge-based rates for 300 shoppable items and services (of which CMS defines 70).
“We are proud to offer this service at no cost, and it includes a diagnostic review of room and board rates, ancillary charges by HCPCS code, drug and supply charge-to-cost mark-ups, drug pricing methodology, and a special analysis using Panacea’s table of shoppable items and services – or one provided by the client,” said Frederick Stodolak, Panacea’s Chief Executive Officer. “The diagnostic review will also include customized peer group data, as well as a presentation of results by Panacea outlining specific areas of risk and opportunity so that action can be taken in late 2020 and early 2021.”
About Panacea Healthcare Solutions, Inc.
Panacea helps healthcare organizations improve their coding, compliance, and data integrity with front-line expertise in mid-revenue-cycle management. Designed for healthcare professionals responsible for financial performance or compliance, Panacea delivers innovative auditing, compliance, chargemaster, strategic pricing, and revenue integrity consulting and software solutions to help their clients proactively identify risks and opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.
Less than six weeks remain for providers to comply with the January 1, 2021, CMS Price Transparency deadline. The rule requires hospitals to include the gross charges and negotiated rates for ALL items and services in a machine-reachable file, and where applicable, prices or charge-based rates for 300 shoppable items and services (of which CMS defines 70).
“We are proud to offer this service at no cost, and it includes a diagnostic review of room and board rates, ancillary charges by HCPCS code, drug and supply charge-to-cost mark-ups, drug pricing methodology, and a special analysis using Panacea’s table of shoppable items and services – or one provided by the client,” said Frederick Stodolak, Panacea’s Chief Executive Officer. “The diagnostic review will also include customized peer group data, as well as a presentation of results by Panacea outlining specific areas of risk and opportunity so that action can be taken in late 2020 and early 2021.”
About Panacea Healthcare Solutions, Inc.
Panacea helps healthcare organizations improve their coding, compliance, and data integrity with front-line expertise in mid-revenue-cycle management. Designed for healthcare professionals responsible for financial performance or compliance, Panacea delivers innovative auditing, compliance, chargemaster, strategic pricing, and revenue integrity consulting and software solutions to help their clients proactively identify risks and opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.
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Panacea
Paula Schmidt
651-424-2453
panaceainc.com
Paula Schmidt
651-424-2453
panaceainc.com
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