Healthcare Financial Management Association

New AKASA Report Highlights Key Benchmarks in Healthcare Revenue Cycle to Increase Productivity

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수요일, 9월 15, 2021

SOUTH SAN FRANCISCO, Calif., Sept. 15, 2021 /PRNewswire/ -- AKASA , the only Unified Automation company for healthcare revenue cycle management, today released a report titled, " New Productivity Benchmarks For The Healthcare Revenue Cycle ."

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SOUTH SAN FRANCISCO, Calif., Sept. 15, 2021 /PRNewswire/ -- AKASA , the only Unified Automation company for healthcare revenue cycle management, today released a report titled, " New Productivity Benchmarks For The Healthcare Revenue Cycle ."
Nearly 84% of healthcare revenue cycle teams say they use productivity standards or quotas to meet goals, according to a recent AKASA survey of healthcare financial leaders.
The national survey was designed to assess the adoption of automation in revenue cycle operations at hospitals and health systems across the U.S.
"It's challenging for healthcare revenue cycle leaders to access accurate benchmarks in terms of actual staff productivity," said Amy Raymond, head of revenue cycle operations at AKASA.
AKASA's "New Productivity Benchmarks For The Healthcare Revenue Cycle" is based on our proprietary data and informed by the expertise and experience of our team.

Leaders from Mayo Clinic Laboratories, Mount Carmel Health System and XIFIN to Explore Strategies to Transform Lab Financial Performance in HFMA Webinar

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월요일, 9월 13, 2021

During this September 14 webinar, these experts will explore current roadblocks, initiatives and tools for organizational success that attendees can apply to their own operational strategies.

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During this September 14 webinar, these experts will explore current roadblocks, initiatives and tools for organizational success that attendees can apply to their own operational strategies.
This behavior accentuates the importance of keeping laboratories strong and why optimal activity is crucial to maintaining a financially viable health system.
Achieving financial stability requires a holistic approach, including automation and system connectivity, said Mike Fauver, AVP of Health Systems at XIFIN.
To learn more, visit www.XIFIN.com , follow XIFIN on Twitter and LinkedIn , or subscribe to the XIFIN blog .

Majority of Health Systems That Leverage Lean Principles Use Automation as Part of Process Improvement

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목요일, 9월 9, 2021

Nearly 70% of hospitals and health systems reported using lean principles for business process improvement and more than 60% of those respondents also say they employ automation within the revenue cycle to reduce waste and improve efficiency.

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Nearly 70% of hospitals and health systems reported using lean principles for business process improvement and more than 60% of those respondents also say they employ automation within the revenue cycle to reduce waste and improve efficiency.
"Revenue cycle automation reduces variation and increases productivity key tenets within the lean principles.
AKASA's unique expert-in-the-loop approach, Unified Automation, combines modern machine-learning with human judgment and subject matter expertise to provide robust and resilient automation.
Unified Automation adapts to the highly dynamic nature of revenue cycle operations and has been purpose-built for healthcare.

Automation in Healthcare Revenue Cycle Operations Jumps from 66% to 78% in Less Than a Year

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목요일, 8월 19, 2021

The findings signify automation in healthcare is no longer an emerging trend but is mission-critical for driving efficiency and cost-effectiveness in revenue cycle operations.

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The findings signify automation in healthcare is no longer an emerging trend but is mission-critical for driving efficiency and cost-effectiveness in revenue cycle operations.
COVID-19 has placed many healthcare organizations under intense cash-flow pressure and created volatile claim volumes and workloads for revenue cycle teams.
These dynamics are driving more revenue cycle leaders to look to automation to provide flexibility and resiliency in their operations while minimizing their organization's cost to collect.
Unified Automation adapts to the highly dynamic nature of revenue cycle operations and has been purpose-built for healthcare.

Patientco® Named Best Patient Financial Engagement Platform in Wealth & Finance International’s 2021 FinTech Awards

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수요일, 8월 4, 2021

Professional Services, Health, Technology, Practice Management, Software, Finance, Banking, Articles, Economy, Financial technology, Fintech awards, Patient experience, Patientco, Wealth & Finance International and the FinTech Awards, PATIENTCO, WEALTH & FINANCE INTERNATIONAL AND THE FINTECH AWARDS

Patientco , a next-generation patient payment technology company, has been named the Best Patient Financial Engagement Platform in the 2021 FinTech Awards by Wealth & Finance International.

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Patientco , a next-generation patient payment technology company, has been named the Best Patient Financial Engagement Platform in the 2021 FinTech Awards by Wealth & Finance International.
Patientco also recently received the 2021 Best in KLAS distinction for patient financial engagement software .
As the need for payment technology designed to improve the patient experience grows, I am honored that Patientco was selected as the Best Patient Financial Engagement Platform by Wealth & Finance International,'' said Bird Blitch, CEO and co-founder of Patientco.
Patientco, named Best in KLAS for Patient Financial Engagement Platforms, is the only vertically-integrated payment technology company that was founded specifically to rethink the patient payment experience in healthcare.

The Greeley Company Names Ted Pfeiffer as Vice President of Product Innovation

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화요일, 7월 20, 2021

Service companies, Healthcare Financial Management Association, Transform

DANVERS, Mass., July 20, 2021 /PRNewswire/ -- The Greeley Company (Greeley), a leader in healthcare consulting, education and interim staffing solutions, is pleased to announce that Ted Pfeiffer has been named Vice President Product Innovation.

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DANVERS, Mass., July 20, 2021 /PRNewswire/ -- The Greeley Company (Greeley), a leader in healthcare consulting, education and interim staffing solutions, is pleased to announce that Ted Pfeiffer has been named Vice President Product Innovation.
Mr. Pfeiffer has over 25 years of leadership experience driving growth and innovation in the healthcare ecosystem.
Prior to joining Greeley, he served as Vice President for a nationally-recognized leader in healthcare strategic business intelligence, analytics, and consulting where he was responsible for strengthening clients' market positioning and growth strategies.
He also previously served as Vice President, Product Management for Healthcare Financial Management Association (HFMA) where he led strategic transformation of the organization's key products, including expansion of its e-learning distribution.

Standard Benchmarks for Success in Healthcare Revenue Cycle Operations Are Evolving

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목요일, 7월 15, 2021

Automation, Robotics, Self-driving car

Of note, the survey found the standard industry benchmark of "cost to collect" as an indicator of revenue cycle operations success surprisingly didn't rank in the top five most important measures.

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Of note, the survey found the standard industry benchmark of "cost to collect" as an indicator of revenue cycle operations success surprisingly didn't rank in the top five most important measures.
The report found the top five measures of revenue cycle operations success, in order of most to least important, include:
The final write-offs rate was statistically more important to organizations with higher annual net patient revenue.
The only Unified Automation company for healthcare, AKASA uses the same machine learning approaches that made driverless cars possible to provide health systems with a single solution for automating revenue cycle operations.
Unified Automation adapts to the highly dynamic nature of revenue cycle operations and has been purpose-built for healthcare.

Waystar to Acquire Patientco to Bring True Consumerism to Healthcare, Simplifying Payment Processes for Patients and Providers

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목요일, 7월 15, 2021

Healthcare in the United States, Health care, Primary care, Medical billing

Together, Waystar and Patientco will offer patients consumer-friendly experiences when paying medical bills, while simplifying how providers receive and process payments both before and after care delivery.

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Together, Waystar and Patientco will offer patients consumer-friendly experiences when paying medical bills, while simplifying how providers receive and process payments both before and after care delivery.
Patientco provides a holistic view of the patient's financial journey operating within both acute and ambulatory provider HIT and treasury ecosystems.
"The combination of our technology and resources brings true transformation to healthcare payments by optimizing the financial experience for both patients and providers."
The Waystar platform removes friction in payment processes, streamlines workflows and improves financials for providers in every care setting.

Ensemble Health Partners, in Partnership with Clients, Receives Five HFMA 2021 MAP Awards for High Performance in Revenue Cycle

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금요일, 7월 2, 2021

Bon Secours Sisters, Bon Secours, Marriottsville, Maryland, Healthcare Financial Management Association, Mercy Health, Health care, Health

Cincinnati, Ohio, July 01, 2021 (GLOBE NEWSWIRE) -- Ensemble Health Partners (Ensemble), in support of five healthcare provider clients, has been named as a recipient of five 2021 MAP Awards for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association (HFMA).

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Cincinnati, Ohio, July 01, 2021 (GLOBE NEWSWIRE) -- Ensemble Health Partners (Ensemble), in support of five healthcare provider clients, has been named as a recipient of five 2021 MAP Awards for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association (HFMA).
This is the first year The Christ Hospital Health Network, Trinity Health of New England, Adena Health and ThedaCare have been named MAP Award for High Performance winners, with ThedaCare receiving the 2021 Best of the Best designation.
This is also the third year in a row Bon Secours Mercy Health has been named a MAP Award for High Performance winner as a result of Ensembles partnership.
Created by and for healthcare leaders, HFMAs MAP initiative sets the standard for revenue cycle excellence in the healthcare industry.

32 Winners Receive the 2021 MAP Award for High Performance in Revenue Cycle

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화요일, 6월 29, 2021

Health care quality, Health, Healthcare Financial Management Association, Patient satisfaction

CHICAGO, June 29, 2021 (GLOBE NEWSWIRE) -- The Healthcare Financial Management Association (HFMA) announced the 2021winners of the MAP Award for High Performance in Revenue Cycle, includingfourintegrated delivery systems, 12hospitalsystems, seven individual hospitals, fivephysician practices and four critical access hospitals.

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CHICAGO, June 29, 2021 (GLOBE NEWSWIRE) -- The Healthcare Financial Management Association (HFMA) announced the 2021winners of the MAP Award for High Performance in Revenue Cycle, includingfourintegrated delivery systems, 12hospitalsystems, seven individual hospitals, fivephysician practices and four critical access hospitals.
HFMAs MAP Award for High Performance in Revenue Cycle recognizes providers that have excelled in meeting industry standard revenue cycle benchmarks (MAP Keys),implemented the patient-centered recommendations and best practices embodied in HFMAs Healthcare Dollars & Sense initiatives, focused their efforts on improving price transparencyand achieved outstanding patient satisfaction.
Across our organization, the dedication and support of our entire revenue cycle team has helped us become a high performing organization.
Winners of the 2021MAP Award for High Performance include the following organizations:
Baylor Scott & White Health; Dallas,Texas
TheChristHospital Health Network; Cincinnati, Ohio
TrinityHealth ofNew England; Hartford,Conn.