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  • Toolkit: Strategies for Reconfiguring Cost Structure
    and Alignment Value Project toolkits Approaches that lead to further economies of scale or greater alignment between hospitals and physician practices described in these toolkits can also be effective approaches to reconfiguring cost Next Page BACK TO PAGINATION Reconfiguring cost structure is a critical element in the journey from volume to value Faced with pressures on both commercial and governmental reimbursement most health systems are moving aggressively to lower costs for their existing services But to successfully transition to value health systems will also have to invest in new technologies and capabilities that enable them to take on risk and manage the health of populations They will also have to adapt to changes in the competitive landscape including new entrants and new innovations in healthcare delivery A wide range of approaches are being developed and tested to reconfigure the costs of care delivery This toolkit which accompanies HFMA s Value Project report on Strategies for Reconfiguring Cost Structure discusses and provides examples of how costs are being reconfigured lessons learned by organizations that have already engaged in significant cost reconfiguration activities and additional resources to help other organizations that follow on this same journey Toolkit Directory First time users of this toolkit may find it helpful to work through the contents in order The links in this directory will take you directly to different sections of the toolkit Assessing the Situation Identifying and Prioritizing Opportunities for Cost Reduction Determining the Process Who Should Be Involved Moving Forward Case Studies White Health A Small System Emphasizes Cost Reduction Red and Blue Health Alliance Multiple Health Systems Work Together on Costs and Population Health Green Health System A Multi state System Acts in Several Integrated Directions at Once Additional Resources There is substantial overlap between this toolkit and HFMA s Acquisitions and Affiliations and Physician Engagement and Alignment Value Project toolkits Approaches that lead to further economies of scale or greater alignment between hospitals and physician practices described in these toolkits can also be effective approaches to reconfiguring cost Next Page Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs This article written by Apex Founder and CEO Brian Kueppers explores a number of strategies to create synergy between patient billing online payment portals and electronic health record EHR software to realize a high ROI in speed to payment patient satisfaction

    Original URL path: http://www.hfma.org/Content.aspx?id=31521 (2016-02-10)
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  • Healthcare Dollars & Sense
    mission of HFMA is to lead the financial management of health care As the nation s healthcare system undergoes dramatic changes HFMA is committed to working with other industry groups to bring clarity and transparency to the price of health care and to help consumers understand their role BACK TO PAGINATION Quicklinks New Learn more about HFMA s Patient Financial Communications Training Program Discover how to achieve recognition as an Adopter of HFMA s Best Practices for Patient Financial Communications Download Understanding Healthcare Prices A Consumer Guide and post it on your organizations website No permission needed How much will I have to pay What is included in the price What if I have trouble paying Now more than ever people are asking questions about the price of health care They are called on to make more decisions and pay more out of pocket for the services they receive They are looking for the information they need to find and pay for quality care Patients and other consumers are not alone in asking these questions Employers insurers and public officials want to understand and get the best value for every dollar they spend Healthcare Dollars Sense aims to answer these questions to help make sense of price and value in health care The Healthcare Financial Management Association HFMA convenes stakeholders from across health care hospitals physicians insurers consumers public officials employers and credit agencies to improve the way we communicate about healthcare prices Out of these efforts have come these recommendations for all stakeholders Price Transparency Patient Financial Communications Medical Account Resolution Who are we With more than 40 000 members the mission of HFMA is to lead the financial management of health care As the nation s healthcare system undergoes dramatic changes HFMA is committed to working with other industry groups to bring clarity and transparency to the price of health care and to help consumers understand their role Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs This article written by Apex Founder and CEO Brian Kueppers explores a number of strategies to create synergy between patient billing online payment portals and electronic health record EHR software to realize a high ROI in speed to payment patient satisfaction and portal adoption for meaningful use HFMA Business Profiles Somnia Bending the Healthcare Cost Curve Toward Improved Anesthesia Value

    Original URL path: http://www.hfma.org/Content.aspx?id=23380 (2016-02-10)
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  • Improving Price Transparency
    Leadership News Blogs hfm Blog Leadership Blog Newsletters Healthcare Cost Containment Revenue Cycle Strategist Strategic Financial Planning HERe e Newsletter Physician Business Adviser eBulletins Career Opportunities Healthcare Finance Strategies Leadership Patient Friendly Billing Buyer s Resource Guide About the Editorial Staff Expert Insight and Practical Strategies HFMA s Newsletters Our newsletters offer targeted articles with technical how to details and thought provoking insights from healthcare finance leaders and industry experts HFM Healthcare Finance Blog What Are They Thinking Get the perspectives of leading healthcare finance professionals on today s hottest issues Buying Decisions Buyer s Resource Guide Information about leading vendors helps your buying decisions Forums HFMA s Forums CFO Legal Regulatory Payment Reimbursement Revenue Cycle Networking Events Free for Forum Members Forum members can network during live webinars or access a library of past webinars on topics such as ICD 10 implementation CMS audits bundled payment charity care KPIs and more Tools Ready to Use An ever expanding collection of spreadsheets policies job descriptions checklists and more that you can adopt and adapt Expert Insight From the Source Forum members can submit vexing questions to a panel of experts using our Ask the Expert service Careers Career Center Job Bank Certification CRCR CHFP Certified Specialist Business Intelligence CSBI Certified Specialist Physician Practice Management CSPPM Certified Specialist Managed Care CSMC Certified Specialist Accounting Finance CSAF FHFMA Subscribe to Career Opportunities HFMA Careers Your source for employment solutions Resources Job Bank Find new employment opportunities or reach out to qualified candidates Certification Expand Your Knowledge Distinguish yourself as a leader among your peers and advance your career by earning certification in our healthcare finance programs Marketplace HFMA s MAP Buyer s Resource Guide Search the Guide HFMA Resource Library Case Study Promotion Get Listed Peer Review Products Services HFMA Business Profiles Advertising Solutions Sponsorship Opportunities Evaluated Products Services Peer Review Get an objective third party evaluation of products and services used in the healthcare finance workplace Revenue Cycle MAP App MAP App is a web based application that helps organizations improve revenue cycle performance based on industry standard metrics called MAP Keys Purchasing Buyer s Resource Guide Find suppliers and products in this comprehensive vendor directory for healthcare finance professionals Industry Initiatives Meet the HFP Team The Value Project About Physician Engagement Alignment Report Acquisition Affiliation Strategies Strategies for Reconfiguring Cost Structure Healthcare Dollars Sense About Price Transparency Patient Financial Communications Medical Account Resolution Patient Financial Communications Adopter Recognition Program About HFMA s Patient Financial Communications Training Program Consumer Guide to Healthcare Prices Patient Friendly Billing e Bulletin HFMA s MAP About MAP Keys MAP Keys Compliant Program MAP App MAP Awards MAP Event Physician Practice Resources Patient Friendly Billing Project Payer Resources Policy Perspectives Principles Practices Board Research Trends Best Practices Healthcare Dollars Sense Guidance for understanding and communicating about the price of health care Managing the Transition to Value Value Project Reports Transformation toward value based healthcare is reshaping the delivery of care patient expectations and payment structures Measure

    Original URL path: http://www.hfma.org/PBPhysician.aspx?pageid=28958 (2016-02-10)
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  • Patient Financial Communications
    Our newsletters offer targeted articles with technical how to details and thought provoking insights from healthcare finance leaders and industry experts HFM Healthcare Finance Blog What Are They Thinking Get the perspectives of leading healthcare finance professionals on today s hottest issues Buying Decisions Buyer s Resource Guide Information about leading vendors helps your buying decisions Forums HFMA s Forums CFO Legal Regulatory Payment Reimbursement Revenue Cycle Networking Events Free for Forum Members Forum members can network during live webinars or access a library of past webinars on topics such as ICD 10 implementation CMS audits bundled payment charity care KPIs and more Tools Ready to Use An ever expanding collection of spreadsheets policies job descriptions checklists and more that you can adopt and adapt Expert Insight From the Source Forum members can submit vexing questions to a panel of experts using our Ask the Expert service Careers Career Center Job Bank Certification CRCR CHFP Certified Specialist Business Intelligence CSBI Certified Specialist Physician Practice Management CSPPM Certified Specialist Managed Care CSMC Certified Specialist Accounting Finance CSAF FHFMA Subscribe to Career Opportunities HFMA Careers Your source for employment solutions Resources Job Bank Find new employment opportunities or reach out to qualified candidates Certification Expand Your Knowledge Distinguish yourself as a leader among your peers and advance your career by earning certification in our healthcare finance programs Marketplace HFMA s MAP Buyer s Resource Guide Search the Guide HFMA Resource Library Case Study Promotion Get Listed Peer Review Products Services HFMA Business Profiles Advertising Solutions Sponsorship Opportunities Evaluated Products Services Peer Review Get an objective third party evaluation of products and services used in the healthcare finance workplace Revenue Cycle MAP App MAP App is a web based application that helps organizations improve revenue cycle performance based on industry standard metrics called MAP Keys Purchasing Buyer s Resource Guide Find suppliers and products in this comprehensive vendor directory for healthcare finance professionals Industry Initiatives Meet the HFP Team The Value Project About Physician Engagement Alignment Report Acquisition Affiliation Strategies Strategies for Reconfiguring Cost Structure Healthcare Dollars Sense About Price Transparency Patient Financial Communications Medical Account Resolution Patient Financial Communications Adopter Recognition Program About HFMA s Patient Financial Communications Training Program Consumer Guide to Healthcare Prices Patient Friendly Billing e Bulletin HFMA s MAP About MAP Keys MAP Keys Compliant Program MAP App MAP Awards MAP Event Physician Practice Resources Patient Friendly Billing Project Payer Resources Policy Perspectives Principles Practices Board Research Trends Best Practices Healthcare Dollars Sense Guidance for understanding and communicating about the price of health care Managing the Transition to Value Value Project Reports Transformation toward value based healthcare is reshaping the delivery of care patient expectations and payment structures Measure Apply Perform HFMA s MAP Improve your revenue cycle performance through standard metrics peer comparison and successful practices Patient Financial Communications Featured Content As consumers pay more out of their own pockets for their health care interactions about financial matters are more important than ever Here s how your

    Original URL path: http://www.hfma.org/PBPhysician.aspx?pageid=40434 (2016-02-10)
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  • Medical Account Resolution
    6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider

    Original URL path: http://www.hfma.org/SpecialTopic1.aspx?id=21241 (2016-02-10)
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  • Patient Financial Communications Adopter Recognition Program
    a prerequisite for application to the Compliance Recognition Program If your organization is an Adopter take the first step toward achieving compliance recognition Contact us for additional information including application fees Inquiries Please send all inquiries to recognition hfma org BACK TO PAGINATION About the Best Practices The Patient Financial Communications Best Practices bring consistency timeliness and clarity to a confusing process The practices outline steps to help patients understand the cost of services they receive their insurance coverage and their individual responsibility View the best practices Take the first step Show that you ve implemented best practices for patient financial communications Let HFMA recognize your organization as a Patient Financial Communications Adopter Apply today About the Adopter Recognition Program Who s Eligible All healthcare provider organizations may apply for the Adopter recognition Applications must be at the individual provider level or at the system level For example a hospital system consisting of three hospitals may complete one application for the system or may apply using separate applications for each individual hospital A physician group practice however would apply on behalf of the entire group HFMA s Patient Financial Communications Adopter recognition is based on HFMA s review of an application and supporting documents that describe an organization s practices The Adopter recognition is valid for two years Organizations achieving this status are allowed to use the phrase Supporter of the Patient Financial Communications Best Practices in their marketing materials Adopter organizations also will receive a certificate and will be listed on HFMA s website and quarterly in HFMA s magazine How to Apply Apply now It is recommended that patient access leadership be actively involved with other revenue cycle leadership in completing the applicaiton The applicant s CFO or CEO must attest to the accuracy of the application HFMA will gladly answer any questions about the online form and application process but only complete electronic applications will be accepted Send questions to recognition hfma org Participation in the recognition program is voluntary Information in the applications and supporting documentation become the property of HFMA and may be disseminated at HFMA s discretion provided that the identity of the applicants remains confidential Deadline and Fee There is no deadline or fee Applications are processed in the order received Evaluation HFMA professionals experienced in revenue cycle operations will use the application and supporting documentation to review and identify those applications that reflect the compliance levels necessary to achieve the Adopter recognition designation Emphasis will be given to the provider s work in the areas of process training technology feedback and response and participation in compliance evaluation at the executive level within the provider s organization Recognition is based on the criteria in the application Each criterion is related to a specific best practice and recognition is based on achieving a minimum level of compliance Supporting documentation submitted with the application checklist will be used to validate achievement of the performance levels necessary to earn this Adopter recognition HFMA recognizes that not every provider can or will implement the specific details of each best practice Notification Applicants will be notified when HFMA receives a completed application HFMA will complete processing within 60 days of receipt of the completed application Successful applicants will be notified by telephone unsuccessful applicants will receive a written notification that will include recommendations for additional compliance work About the Compliance Recognition Program Providers who have attained Patient Financial Communications Adopter status may go on to achieve a higher level of recognition through HFMA s new Compliance Recognition Program This program gives providers the benefit of an objective performance assessment conducted by revenue cycle experts under the guidance of HFMA s revenue cycle team Providers who achieve recognition as Compliant with the Best Practices in Patient Financial Communications are automatically revalidated as an Adopter and newly recognized as Compliant Once achieved both recognitions are valid for three years The Compliance Recognition Program includes the following elements On site review On site assessment of the organization s performance to assess implementation of the Patient Financial Communications Best Practices in accordance with provider specific policies Observation Direct observation of communications interactions between provider personnel and patients Patient satisfaction research Review or development of patient survey and or focus group data on patient communication and satisfaction Technology review Completion of a technology inventory and application utilization review for those applications supporting the Patient Financial Communications Best Practices Training assessment Review of training materials and records that support compliance with the training best practices Formal feedback Presentation of a gap analysis report highlighting opportunities for improvement Achievement of recognition as an Adopter of Patient Financial Communications Best Practices is a prerequisite for application to the Compliance Recognition Program If your organization is an Adopter take the first step toward achieving compliance recognition Contact us for additional information including application fees Inquiries Please send all inquiries to recognition hfma org Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY

    Original URL path: http://www.hfma.org/Content.aspx?id=19961 (2016-02-10)
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  • Understanding Healthcare Prices: A Consumer Guide
    as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and

    Original URL path: http://www.hfma.org/consumerguide/ (2016-02-10)
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  • Patient Financial Communications Best Practices
    Criteria Framework Adopting these best practices is a worthy goal for all healthcare organizations To help HFMA has established a recognition program so that organizations can demonstrate their use of the best practices Learn more about the recognition program BACK TO PAGINATION These common sense best practices bring consistency clarity and transparency to patient financial communications The practices outline steps to help patients understand the cost of services they receive their insurance coverage and their individual responsibility The best practices address communication in the emergency department at time of service outside the emergency department and in advance of service Also included are practices that apply to all patient financial communications Finally the practices include a framework for measurement to determine compliance Click on the links below to review each section Or download a PDF of all the best practices Emergency Department Time of Service Outside the Emergency Department Advance of Service All Patient Financial Interactions Measurement Criteria Framework Adopting these best practices is a worthy goal for all healthcare organizations To help HFMA has established a recognition program so that organizations can demonstrate their use of the best practices Learn more about the recognition program Please login to add your comments Advertisements HFMA Business Profiles McKesson Leveraging Predictive Analytics to Rein in Operating Costs A leader from McKesson discusses how healthcare reform is forcing hospitals and health systems to take a different approach to capacity management and patient flow HFMA RESOURCE LIBRARY 6 Patient Revenue Cycle Metrics You Should Be Tracking and How to Improve Your Results Patient financial engagement is more challenging than ever and more critical With patient responsibility as a percentage of revenue on the rise providers have seen their billing related costs and accounts receivable levels increase If increasing collection yield and reducing costs are a priority for your organization the metrics outlined in this presentation will provide the framework you need to understand what s working and what s not in order to guide your overall patient financial engagement initiatives and optimize results HFMA Business Profiles Accretive Health Partners with Providers to Excel in a Rapidly Transforming Revenue Cycle Environment Emad Rizk MD president and CEO of Accretive Health discusses the uncertainty facing hospitals and the transitions affecting revenue cycle management HFMA RESOURCE LIBRARY 10 Ways to Reduce Patient Statement Volume and Reduce Costs No two patients are the same Each has a very personal healthcare experience and each has distinct financial needs and preferences that have an impact on how when and if they chose to pay their healthcare bill It s no longer effective to apply static billing techniques to solve the complex challenge of collecting balances from patients The need to tailor financial conversations and payment options to individual needs and preferences is critical This presentation provides 10 recommendations that will not only help you improve payment performance through a more tailored approach but take control of rising collection costs HFMA Business Profiles Conifer Health Solutions Helping Providers and Employers Build a Foundation for Better Health Jim Bohnsack vice president solution corporate development for Conifer Health Solutions explains how the company helps healthcare providers leverage data to deliver better outcomes while optimizing reimbursement for all payment arrangements HFMA RESOURCE LIBRARY Reduce Patient Balances Sent to Collection Agencies Approaching New Problems with New Approaches This white paper written by Apex Vice President of Solutions and Services Carrie Romandine discusses the importance of patient segmentation and messaging specifically related to the patient revenue cycle Applying strategic messaging that is tailored to each patient type will not only better educate consumers on payment options specific to their billing needs but it will maximize the amount collected before sending to collections Further targeted messaging should be applied across all points of patient interaction i e point of service customer service patient statements and analyzed regularly for maximized results HFMA Business Profiles Ontario Systems Optimizing Accounts Receivable in a Rapidly Changing Environment Steve Scibetta senior director of channel sales for Ontario Systems healthcare product line shares insights into effectively managing receivables HFMA RESOURCE LIBRARY The Future of Online Patient Billing Portals This white paper written by Apex President Patrick Maurer discusses methods to increase patient adoption of online payments Providers are now seeking ways to incrementally collect more payments due from patients as well as speeding up the rate of collections This white paper shows why patient centric approaches to online payment portals are important complements to traditional provider centric approaches HFMA Business Profiles Optum Enabling Transformative Change Elena White vice president of risk quality and network solutions for Optum discusses how healthcare providers can leverage data and technology as they enable risk in their organization HFMA RESOURCE LIBRARY Payment Portals Can Improve Self Pay Collections and Support Meaningful Use Increased electronic engagement between healthcare providers and patients provides significant opportunities for improving revenue cycle metrics and encouraging patients to access EHRs This article written by Apex Founder and CEO Brian Kueppers explores a number of strategies to create synergy between patient billing online payment portals and electronic health record EHR software to realize a high ROI in speed to payment patient satisfaction and portal adoption for meaningful use HFMA Business Profiles Somnia Bending the Healthcare Cost Curve Toward Improved Anesthesia Value Somnia President and CEO Marc Koch MD MBA explains how hospitals can drive transformative change in the perioperative experience for outstanding clinical and financial outcomes HFMA RESOURCE LIBRARY Large Health System Drives 10 UP Patient Payments and 10 DOWN Billing related Costs Faced with a rising tide of bad debt a large Southeastern healthcare system was seeing a sharp decline in net patient revenues The need to improve collections was dire By integrating critical tools and processes the health system was able to increase online payments and improve its financial position Taking a holistic approach increased overall collection yield by 10 while costs came down because the number of statements sent to patients fell by 10 which equated to a 1 3M annualized improvement in

    Original URL path: http://www.hfma.org/Content.aspx?id=20098 (2016-02-10)
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