What is a chargemaster coordinator?
Chargemaster team or coordinator responsibilities should include gathering departmental reviews, deleting or replacing codes, assigning revenue codes, reviewing code changes and rates, identifying rates below Medicare rates, and educating other staff on pricing and billing processes.
What is a chargemaster in healthcare?
A chargemaster serves as a medium between a healthcare facility and for billing their patients and insurance companies. This system contains a list of all the billable services and/or items to a patient or the patient’s insurance company.
How much does a chargemaster coordinator make?
Charge Master Coordinator Salary
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $99,000 | $48 |
| 75th Percentile | $89,500 | $43 |
| Average | $72,345 | $35 |
| 25th Percentile | $46,500 | $22 |
How do you become a hospital chargemaster?
The qualifications you need to become a chargemaster analyst or charge description master (CDM) analyst are a bachelor’s degree in business, finance, or accounting in addition to experience with medical billing and coding.
What is a CDM Code?
The Charge Description Master (CDM), sometimes called the Chargemaster or Procedure Code Dictionary, is the database of all billable items that go on patients’ accounts. It contains all the descriptions, revenue codes, department associations, alternate CPT/HCPCS codes for different payer….
What is the CDM for hospital codes?
Charge Description Master
The Charge Description Master (CDM), sometimes called the Chargemaster or Procedure Code Dictionary, is the database of all billable items that go on patients’ accounts. It contains all the descriptions, revenue codes, department associations, alternate CPT/HCPCS codes for different payer….
Why is the chargemaster important?
For hospitals, an accurate and up-to-date chargemaster is the backbone of this type of revenue flow, as well as an important record for purposes of public reporting and compliance. An unreliable chargemaster will lead to revenue leakage, legal liabilities, and even confusing and high charges for patients themselves.
Can a hospital have multiple chargemasters?
Yes. All services that are provided under the hospital’s general acute care license should be reported. If you are unable to combine the chargemasters into a single document, you may file them separately.
Who is in charge at a hospital?
The Chief Executive Officer (CEO) is the highest-level management position in a hospital or hospital system. Hospital CEO’s must possess the qualifications and skills to manage and direct the complexities of a modern patient care facility.
What’s the role of the hospital chargemaster coordinator?
Chargemaster coordinators must keep abreast of coding and reimbursement changes to ensure the hospital maximizes reimbursement, reduces claim denials for coding errors, maintains an accurate chargemaster.
Is the hospital chargemaster available to the public?
While patients and payers are technically on the receiving end of chargemaster prices, healthcare stakeholders outside of the hospital are unlikely to gain access to hospital chargemaster prices. The charges on this list are generally considered proprietary information.
Who is the chargemaster of the CDM team?
As planned, we created the chargemaster manager position and created a CDM department. Further, we formed a CDM team with representatives from clinical departments, HIM, patient accounts, corporate compliance, and information systems.
How does charge capture work in a hospital?
Charge capture through the chargemaster is an integral component of the hospital billing process. When a patient receives services from a hospital, providers document the encounter in the medical record and health information management staff or professional coders assign codes for reporting and claim submission.