Medical Asset Management, Inc. (Atlanta, Georgia), signed an agreement with Baxter Regional Medical Center (Mountain Home, Arkansas) to install two web-based software applications: iRCODER.COM® and Procedure-Integrated Inventory Management System (PIIMS®) in its Cardiac Catheterization Lab.
iRCODER.COM®, utilizes proprietary intelligence, color-coded illustrations and Center for Medicare and Medicaid Services (CMS) guidelines for timely, accurate charging of certain complex hospital procedures (interventional radiology, cardiac catheterization, electrophysiology, vascular and non-vascular).
PIIMS® is an intelligent inventory management system that tracks use of inventory, monitors expired/ expiring products on a real-time basis (including the associated costs of the expired or expiring products) and tracks model and lot numbers for quick identification of recalled products. Unlike other inventory management systems, PIIMS® also includes comprehensive cost-tracking intelligence. Hospital staff now has immediate access to the dollar value of its inventory.
Game changing synchronicity occurs when both systems are used together. The intelligence built into both products recognizes when a device has been used in a procedure, but not charged. Conversely, it will not allow a device to be charged if it was not used in a procedure. Hospitals that rely on conventional inventory management systems to track inventory have not been as successful in utilizing those systems to make sure inventory is always charged properly when used. PIIMS® resolves this issue for the hospital.
“We’re pleased that both iRCODER.COM and PIIMS® are being utilized by Baxter. When these products are used together, it results in phenomenal improvement in process flow, accurate charge capture and inventory management. Healthcare reform constantly requires hospitals to be more efficient in billing and hospital viability requires the revenue cycle to be a top priority. Use of these products result in timely reimbursements,” says Belinda Stanley-Majors, Principal of Medical Asset Management, Inc.
Gary Burns, Principal of Medical Asset Management, Inc. says, “using this inventory tracking system allows a hospital to avoid issues associated with expired inventory: inefficient management of supply purchases, waste and financial losses associated with inventory that cannot be used. A hospital wants to avoid Joint Commission violations as well as legal issues associated with carrying expired products on its shelves.”
Medical Asset Management, Inc. is headquartered in Atlanta, Georgia with hospital clients nationwide. For more information about these products, please visit www.ircoder.com or https://piims.ircoder.com.
