GNYHA Ventures—a for-profit affiliate of Greater New York Hospital Association (GNYHA)—has formed a strategic alliance with Craneware that brings the valuable economic benefits of Craneware's Active Chargemaster Professional Toolkit to GNYHA members. This highly cost-effective software tool is designed to help health care institutions better manage and control their Charge Description Master Files, which house all financial transactions that can be applied to a patient account, including all descriptions and codes needed for billing, payment, and reimbursement. The software will help health care institutions keep their chargemaster files current, accurate, and compliant. This product is also marketed by 3M Health Information Systems and Martin Henry Associates on behalf of Craneware, Inc.

The Active Chargemaster Professional Toolkit identifies invalid or obsolete Current Procedural Terminology (CPT) or Healthcare Common Procedural Coding System (HCPCS) codes and suggests replacements for codes that are missing or no longer exist; recommends possible billable codes missing from the master file and identifies common compliance problems by constantly checking against the latest code standards, regulations, and current compliance issues; enables health care facilities to support efficient chargemaster coding via easy access to an up-to-date reference guide of all CPT and HCPCS codes; provides a comprehensive audit trail for every charge code and an online memo feature for each chargemaster item; and increases flexibility by allowing multiple, simultaneous access to permission-controlled segments of the chargemaster. This innovative product will help ensure quicker payments while increasing revenue and reducing bill rejection.

Active Chargemaster is currently in use in more than 300 hospitals throughout the United States.

For more information, contact Gayle White at (212) 506-5479.