Article | Revenue Cycle Technology

Craneware is transforming the business of healthcare

Sponsored by Craneware
Article | Revenue Cycle Technology

Craneware is transforming the business of healthcare

How do you help healthcare organizations navigate the biggest challenges in healthcare?

Traditional finance and revenue cycle management approaches can no longer sustain success in the age of big data — these approaches do not serve dynamic healthcare environments. 

At Craneware, our purpose is to impact healthcare profoundly by improving healthcare providers’ operational efficiency and margin, so they can continue investing in providing quality care for their communities. We understand what is on the line, and we believe it’s time to transform the business of healthcare.

With the chargemaster as the foundation, Craneware offers its customers — representing more than 2,000 U.S. hospitals and health systems — value cycle solutions that go beyond traditional revenue cycle to include pharmacy, supplies and service line optimization. By optimizing critical data assets in these areas, Craneware helps healthcare organizations optimize revenue.

What advice would you offer to healthcare leaders when choosing among vendors?

Healthcare leaders today need to understand how people, process and technology work harmoniously together to achieve the best possible operational and financial outcomes. Investing in a new technology partner requires not just features and functionality but also having the people and process needed to ensure maximum ROI.

When evaluating technology, organizations need to look for more than a vendor, they need to find a partner. Both the vendor and the healthcare provider need to be aligned around a foundation of values, demonstrated market success, organizational stability and tenacious pursuit of innovation.

Look for a vendor with the ability to assist with marrying the technology with your people and processes. A partner should offer not just exceptional support but ongoing education and a strong consultative approach to best practices that are provided by passionate professionals with deep industry experience.

Although you may be looking for a technology solution to solve a specific problem in one area where data is abundant, data is often siloed throughout the organization. A good vendor partner will be searching for ways to assist your team in solving problems with low friction, aligning data sets across the system to provide actionable insights into the data that are digestible, achievable and measurable.

What is some advice you can give providers for a successful implementation of a new product or service?

Ensure the vendor provides the implementation, training and support that fits the unique needs of your organization. Look for a mix of on-site, virtual and on-demand offerings to ensure your staff can be effective and successful once the implementation process is complete. Ongoing education is also important to ensure your team is current with changes in the industry, so a strong webinar and thought leadership program is also important. Lastly, partner with a vendor that values expertise in the area of need and provides a team of experts who are ready to assist your staff with questions that lie outside technical support. 

Quick Facts

  • 13 years on the Short List
  • 100% of peer reviewers would recommend this product to a colleague.

About Craneware

Craneware (AIM: CRW.L), the leader in automated value cycle solutions, collaborates with U.S. healthcare providers to plan, execute and monitor operational and financial performance so they can continue to drive better outcomes for the communities they serve. Craneware’s Trisus platform combines revenue integrity, cost management and decision enablement into a single SaaS-based platform. Our flagship solution, Chargemaster Toolkit®, continually earns KLAS recognition in the Revenue Cycle – Chargemaster Management category and is part of our value cycle management suite, which includes charge capture, strategic pricing, 340B compliance, claims analytics, patient engagement, revenue recovery and retention, and cost and margin intelligence solutions.

To learn more about HFMA’s Peer Review program, visit hfma.org/peerreview

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