Health Information Management

Tip of the week: Charge appropriately for radiopharmaceuticals

APCs Insider, March 7, 2008

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Before you decide how you'll set up your chargemaster at the start of each year, your facility should examine any available historical information (revenue and usage). This will allow you to determine how many times your facility charges for a particular procedure or radiopharmaceutical in comparison to the previous year.

It's also a good idea to review table 10 of the 2008 OPPS final rule, published in the November 27 Federal Register, to determine which drugs your facility uses. Take the time to determine whether you have appropriately calculated the price of procedures associated with those radiopharmaceuticals-not only from the standpoint of Medicare, but also in the current marketplace.

Review your data from previous years, and compare today's charges with those from 2006. Ask yourself, 'Were my charges relevant to last year, and is my present cost structure going to be rational and transparent? If not, what am I going to do about it?' You can't just raise the price of the item because all that's going to do within Medicare is increase your contractuals.

(The above tip was excerpted from the March issue of Briefings on APCs).

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