MedAssets Claims Auditor Designated Compatible with American Hospital Association’s RACTrac

MedAssets’ Claims Auditor solution is now compatible with the American Hospital Association’s (AHA) RACTrac, a Web-based survey that will collect data from hospitals to track and summarize the impact of RAC activity on individual hospitals nationwide. MedAssets Claims Auditor is a Web-based solution to help providers streamline and automate cumbersome RAC processes.

MedAssets (NASDAQ: MDAS) currently assists more than 100 healthcare facilities in developing and executing comprehensive RAC strategies to improve revenue integrity and retention. MedAssets’ Claims Auditor audits historical claims to assess risk and uses an interactive workflow and customized reporting to appeal RAC audit findings in a timely and efficient manner. The solution also links to MedAssets’ market-leading coding and reference research tool and helps identify areas for improvement, such as compliance and reimbursement issues and/or omissions.

AHA’s RACTrac will collect data from general medical/surgical acute care hospitals, long-term acute care hospitals, inpatient rehabilitation hospitals and inpatient psychiatric hospitals. RACTrac’s reports will be generated quarterly, and will help these hospitals understand the program’s effect on them, as well as emerging trends, such as changes in the prevalent reasons for denials. With this information, AHA can communicate with The Center for Medicare and Medicaid Services (CMS) to ensure adherence to Medicare policy, assess its implications for broader policy issues such as medical necessity and measure the true impact of RACs on the provider community and Medicare as a whole. AHA does not support or endorse any particular product for RAC tracking.

MedAssets Claims Auditor can connect hospitals with RACTrac to disseminate the following data:

• Number of claim denials and total dollars associated with overpayments and underpayments
• Service areas where overpayments are being identified (e.g., inpatient, outpatient, rehab, etc.)
• Reasons for claim denials cited by the RACs
• Number of appeals filed and the dollars associated with those appeals
• Quantifying administrative burden and costs by hours of staff dedicated to managing the RAC process and dollars paid to consultants

“We are pleased that MedAssets Claims Auditor has been identified as RACTrac compatible since its workflow and built-in automation work seamlessly to track and analyze the variables hospitals need to report,” said D.T. Nguyen, President, Revenue Cycle Management, MedAssets. “The solution proactively assists hospitals with compliance and revenue integrity when engaged in a RAC audit and when identifying opportunities for efficiency during the normal course of operations.”

MedAssets Claims Auditor helps providers cut through the complexities of Medicare claims and payments, replacing labor-intensive research and review with accurate, process improvement technology. It identifies coding, compliance and reimbursement issues caused by claims errors and omissions. It provides tracking and reporting on issues identified during the audit process, facilitates responses to all five CMS review programs, and monitors the status of the audits for all of the review programs including RAC, OIG or Medical Reviews.

About MedAssets

MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.

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