The hospital charge master is an internal list of charges related to the billable services and items submitted by providers at the organization. Chargemaster Management involves managing of charge master file for regulatory compliance and to maximize revenue. The chargemaster file contains the information about costs of all healthcare procedures like service, supply, prescription drug, diagnostic tests, equipment fees, and room charges etc. Inability to maintain an updated and accurate chargemaster can therefore lead to payment cancellations, underpayments, compliance violations, and potential claw backs from payers for overcharges.
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