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Northwestern Memorial Hospital FINANCE POLICY Subject: Page Policy # FINANCIAL ADMINISTRATION 1 of 5 3.03 Title: Revision of: Effective Date: CHARGEMASTER MAINTENANCE NEW 08/31/04 I. PURPOSE: The.

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Charge descriptors should represent the item or service as accurately and specifically as possible within system field length limitations. Charge descriptors should provide the necessary clarity for masterfile maintenance, charge monitoring, and auditing purposes.

The chargemaster is a(n) computer-generated list used by facilities, which contains procedures, services, supplies, revenue codes, and charges. The sorting of claims upon submission to collect and verify information about the patient and provider is called. claims processing.

Chargemaster maintenance is an ongoing process to ensure that services, drugs, and supplies are accurately charged and compliant with CMS and other payer regulations so that a healthcare entity receives appropriate reimbursement.

A typical chargemaster includes detailed information, such as charge codes, General Ledger codes, billing descriptions, revenue codes, billing codes, CPT/HCPCS codes, RVS codes, modifiers, and multiple prices.

The chargemaster reviewers ensure accurate billing codes and edits based on the service line. Staff members analyze data and reports to assess billing problems and payment implications.

a. Each hospital is required to submit a copy of its chargemaster and the estimated percentage change in gross revenue due to price changes annually on July 1. Health facilities licensed as a Chemical Dependency Recovery Hospital or a Psychiatric Health Facility are exempt from these requirements.

Take a Holistic Approach. Maintaining an accurate chargemaster requires a multi-disciplinary team with representation from finance, patient financial services, health information management, compliance, and—most importantly—each ancillary department (e.g., lab, radiology, pharmacy), Gilbert said.

What Is a Chargemaster? A hospital chargemaster is the collection of standard list prices for hospital services. Chargemaster rates are essentially the health care market equivalent of Manufacturer's Suggested Retail Price (MSRP) in the car buying market.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232