Hospitals are central to our nation’s healthcare industry. However, they must make money to run, just like any business. Hospitals make money by treating patients and charging them using the chargemaster. The chargemaster is a guide that helps the hospital know what to charge its patients. The chargemaster coordinator is responsible for the implementation of the chargemaster.
The chargemaster coordinator is involved in pricing. She meets with the hospital’s procurement department on a regular basis. The procurement department works with third-party vendors. They help the hospital get service contracts for goods such as medical equipment, vending machines and gift shop goods. The chargemaster coordinator does not suggest the acquisition of new equipment, for example, but simply deals with the way its cost will affect pricing.
The chargemaster coordinator will also meet with the medial director and chief financial officer of the hospital. They will discuss the cost of running the hospital, the income earned from third-party vendors and the cost of staff wages. The chargemaster coordinator must balance the needs of the hospital with the need to offer services at a competitive price. She must edit the chargemaster to accordingly. This can include rewriting massive segments of the chargemaster or writing new segments.
The billing and payment procedure for any hospital is complex. The chargemaster coordinator uses the chargemaster to make sure patients are being billed correctly. She ensures that patients and their insurance companies won’t be charged too much or that the hospital won’t charge too little. The chargemaster coordinator will check and double check all bills administered by the hospital before they are charged or paid. In this regard, she works directly with the billing and coding department. The coding department creates the billing code that the billing department will use to create bills. If an inaccuracy has been found in the billing, the chargemaster coordinator must work with these departments to find out where the inaccuracy originated. It may be a simple case of mistaken coding or something more complex.
The chargemaster must work hard to keep her chargemaster updated and accurate. The chargemaster review team is under her control. This team periodically reviews and refines the chargemaster. She directs them in anyway necessary, such as focusing them on a specific pricing matter she believes may be lacking. The chargemaster coordinator will work with the various departments in the hospital and take suggestions on any changes they think are necessary for the chargemaster. She may take these suggestions into consideration when deciding on revisions to the chargemaster. However, the chargemaster coordinator is the last authority on revising the chargemaster; she must review, analyze and approve all changes. If she does not approve changes, they will not be made.