Primary Task Response: Within the Discussion Board area, write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
There are many reimbursement methods that are utilized to reimburse physicians and facilities for the services and procedures that they provide to patients. Physicians and facilities must keep track of the services and procedures that they are providing to the patients to bill out and receive the appropriate reimbursement. The chargemaster or charge description master (CDM) is the billing process that is used in all health care facilities, and it is updated yearly.
Focus your discussion on the following questions:
- What are the consequences of not utilizing current codes and charges? Discuss how using last year’s CDM will affect the current year’s bottom line.
- How can facilities ensure that the current CDM is used?