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  • HFMA Recognizes Elliott Fisher for Contributions to Health Care | HFMA
    of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 25 Orlando Fla The Healthcare Financial Management Association HFMA presented its highest individual achievement award to Elliott Fisher M D M P H during HFMA s annual conference today in Orlando The Richard L Clarke Board of Directors Award was presented to Fisher in recognition of his leadership in advancing the science of health care delivery and in developing new models of healthcare delivery and payment Dr Fisher is Director of the Dartmouth Institute for Health Policy and Clinical Practice and the John E Wennberg Distinguished Professor of Health Policy Medicine and Community and Family Medicine at the Geisel School of Medicine at Dartmouth He is also Co Director of the Dartmouth Atlas of Health Care Dr Fisher s groundbreaking work on the concept of accountable care organizations paved the way for the subsequent development of ACOs said HFMA president and CEO Joseph J Fifer FHFMA CPA He continues to be a top thought leader in this key area Fisher is noted for three major contributions First he led seminal research on the promise and perils of using large databases for healthcare research work that helped to validate the quality of the data and demonstrated how such data could be used to answer important epidemiologic and policy questions He then built on this work to explore the causes and consequences of the dramatic differences in spending observed across U S regions and academic medical centers He then demonstrated that the 60 percent higher intensity of care in high cost U S regions and health systems did not result in better health outcomes and was largely due to differences in the use of discretionary and potentially avoidable care This work was the first to reveal the magnitude of waste in U S health care and helped provide the rationale for the transition to value based payment that is now underway Finally he led the team that did the empirical research that provided the theoretical rationale for accountable care organizations and worked with colleagues to adapt the concept in ways that helped lead to its inclusion in the Affordable Care Act and adoption by many private payers His current research focuses on exploring the determinants of successful ACO formation and performance Fisher has published over 150 research articles and commentaries He received his undergraduate and medical degrees from Harvard University and completed his internal medicine residency and public health training at the University of Washington He is a member of the Institute of Medicine of the National Academy of Sciences Established in 1964 the Richard L Clarke Board of Directors Award recognizes individuals who make significant positive contributions to the profession of healthcare finance or the financing of healthcare services About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31709 (2016-02-10)
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  • HFMA’s Nebraska Chapter Receives Award for Sustained Excellence | HFMA
    of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 23 Orlando Fla The Healthcare Financial Management Association HFMA awarded its highest chapter honor the Robert M Shelton Award to the Nebraska Chapter during HFMA s annual conference in Orlando Florida on Tuesday The award is given annually in recognition of five years of sustained excellence The Nebraska chapter has achieved outstanding results in the areas of education membership growth and certification said HFMA Chair Melinda S Hancock FHFMA CPA This is even more impressive considering that Nebraska also received the Shelton award in 2010 These two awards represent a full 10 years of sustained high performance Hancock presented the award to Nebraska Chapter past presidents Troy Bruntz Mandy Kumm Douglas Wismer Gretchin Heckenlively and Christopher Vairo The Nebraska chapter demonstrated sustained success over the five year period by earning five awards for Education in recognition of an average increase of 6 percent in education hours over that time They also earned an award for educational performance improvement In addition an average of 18 4 percent of the chapter members were certified the highest level reached by any chapter during this time Also chapter membership trends reflected an average growth of 4 percent for the five year period The chapter has achieved a perfect overall score of 100 points on the Chapter Balanced Scorecard since 2010 11 The Nebraska Chapter has 344 members Winners of the Shelton Award demonstrate continuous improvement in all areas tracked by HFMA including quality and variety in educational programs growth in membership and other areas The winner is selected by a five member committee appointed each year by the HFMA Chair About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31699 (2016-02-10)
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  • New Edition of Consumer Guide to Healthcare Prices Is Published | HFMA
    sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 22 Orlando Fla The Healthcare Financial Management Association HFMA has published an updated version of its consumer guide to healthcare prices The 2015 edition of Understanding Healthcare Prices A Consumer Guide includes a new section designed to help consumers assess healthcare quality When making healthcare decisions consumers should take both price and quality into account said HFMA president and CEO Joseph J Fifer FHFMA CPA Although a great deal of quality information is available it s not always consumer friendly The updated guide offers tips that can help consumers find and sort through quality information The first edition of the guide was developed through a collaboration among groups representing consumers hospitals and health systems physicians and health plans In addition to providing quality information the guide offers a step by step process for consumers to obtain price estimates It is also designed for consumers who wish to comparison shop or to better manage their out of pocket expenses Since publication of the first edition in 2014 the report has been downloaded or distributed to hundreds of healthcare organizations throughout the country Organizations that interact with healthcare consumers can download the report in PDF format and make it available to consumers as an educational resource HFMA disseminates this report electronically as a public service No permission is needed for electronic redistribution About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31701 (2016-02-10)
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  • New Healthcare Financial Management Association Chair Melinda Hancock Takes Office | HFMA
    sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 22 Orlando Fla The Healthcare Financial Management Association HFMA inducted Melinda S Hancock FHFMA CPA into office as Chair of its Board of Directors for the 2015 2016 term during HFMA s annual conference in Orlando Fla Her term began on June 1 2015 Hancock is Partner at Dixon Hughes Goodman LLP in Richmond Va In this role Hancock s executive leadership includes responsibility for development of services pointed to the mandatory elements of payment reform i e value based purchasing readmissions and hospital acquired conditions shared savings models governmental and commercial bundled payments and the Medicare innovation model She leads team members who are addressing some of the most pressing business issues facing U S healthcare organizations including the provider journey to risk capability and implementation of advanced payment models that advance crucial institutional Triple Aim objectives Melinda s experience and expertise will help us bring different stakeholders together around value improvement in health care said HFMA President and CEO Joseph J Fifer FHFMA CPA Melinda is dedicated to helping healthcare organizations shape a better healthcare system for the benefit of consumers and other care purchasers Hancock was previously senior vice president and chief financial officer of Bon Secours Virginia Health System She has authored or co authored several articles on finance s role in clinical transformation and professional development in the value based payment era A member of HFMA since 1994 Hancock has served on the Association s National Advisory Councils the Regional Executives Council the Board of Directors and the Executive Committee She also served the Virginia Chapter as Director Secretary President elect and President Hancock is a recipient of HFMA s Follmer Bronze Reeves Silver and Muncie Gold merit awards and the Founders Medal of Honor Hancock a Fellow of HFMA and a certified public accountant holds an MBA from the University of Phoenix and a Bachelor of Science degree in accounting from the College of William and Mary Williamsburg Va Other new Board officers for 2015 2016 include Chair elect Mary Mirabelli Vice President Global Healthcare Services HP Enterprise Services Hewlett Packard Nashville Tenn and Secretary Treasurer Carol Friesen Vice President of Health System Services Bryan Health Lincoln Neb Additionally three newly elected members joined the HFMA Board for a three year term ending in 2018 Penny D Cermak FHFMA CPA Senior Vice President Central Texas Division CFO Baylor Scott White Health Temple Texas Edward G Chadwick Executive Vice President and CFO Henry Ford Health System Detroit Mich Tammie L Galindez Vice President Client Management Conifer Health Solutions Frisco Texas About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31698 (2016-02-10)
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  • Report Urges Providers to Go Beyond Cost Containment to Cost Reconfiguration | HFMA
    sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 22 Orlando Fla Hospitals and health systems must shift resources away from established operations and services to enable investments in infrastructure for managing risk and population health according to a new report released today by the Healthcare Financial Management Association HFMA at its annual conference in Orlando Fla The report Strategies for Reconfiguring Cost Structure describes an imperative to develop the infrastructure and capabilities for the emerging value based payment and care delivery environment That infrastructure will necessitate investments in IT and analytics primary care services care coordination and related technological capabilities Health systems must take a strategic approach to cost reduction today said HFMA President and CEO Joseph J Fifer FHFMA CPA The basic strategy is to reduce spending in established service areas to free up resources needed for new investments in value based care Those investments will deliver the most value to patients and other healthcare purchasers A survey of senior financial executives conducted for this report found that 71 percent of respondents are planning to improve their population health management capabilities by increasing investment in IT clinical data warehousing and reporting At the other end of the scale just 8 percent of respondents expect to increase expenditures for administrative staff and services Many hospitals and health systems are differentiating between administrative and clinical staff when seeking to trim costs For example Banner Health Phoenix Ariz achieved nearly 60 million in savings in 2012 and 2013 including estimated efficiency gains through corporate services optimization an approach that focuses on general and administrative expenses Overall more than two thirds of respondents to the HFMA survey expected to decrease administrative staff and services over the next five years while fewer than half expect to reduce the costs of clinical staff and services In some cases health systems that are reconfiguring costs will wind up disrupting their own business models Embrace the likelihood of disruption in health care by investing in innovation said Fifer It s better for an organization to disrupt its own business model than to have it disrupted by others For example one of the organizations profiled in the report Providence Health Services Renton Wash is funding an innovation agenda that includes a venture fund to invest in developing healthcare IT companies a software and digital innovation team dedicated to building new technologies for patient engagement and a consumer team focused on developing consumer oriented businesses Key lessons from the research which were identified and addressed in depth in the 28 page report include the following Understand that reconfiguring cost structure is different from reducing it Develop a strategy for maintaining or building on gains to avoid erosion of gains over time Don t view standardization as a universal panacea Develop strong physician leadership models to achieve savings from clinical transformation Be alert to opportunities for short term returns on long term investments in population health management infrastructure Consider affiliation as a cost effective alternative to ownership when developing a population health management network The report is based on quantitative and qualitative research conducted by HFMA in 2014 and 2015 Of 146 responses to the survey of senior financial executives 54 percent represented stand alone hospitals and 46 percent represented health systems In depth site visits and interviews also were conducted at Banner Health Benefis Health System Great Falls Mont Providence Health Services and Vanderbilt University Medical Center Nashville Tenn Download the full Value Project report About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31711 (2016-02-10)
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  • Research Identifies 10 Key Action Steps for Improving Healthcare Value
    sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 BACK TO PAGINATION June 22 Westchester Ill Hospitals and physicians must focus on improving healthcare value and ensuring that consumers employers and other healthcare purchasers receive the benefit of value improvements That s the key finding that has emerged from five years of research on healthcare value according to the Healthcare Financial Management Association The volume to value shift is pretty well understood in the industry on a conceptual level at this point says HFMA President and CEO Joseph J Fifer FHFMA CPA In addition to implementing strategies to drive value provider organizations should close the loop by passing value improvements through to consumers This research identifies steps that all major healthcare stakeholders can take to close the value loop The most recent phase of the Value Project research conducted in 2014 15 found that forward looking provider organizations are adopting three strategies to position themselves to close the value loop Shifting resources away from established operations and services to enable investments in the infrastructure required for population health management and other value based approaches to delivering health care Focusing on hospital physician alignment around shared goals to increase value Pursuing value focused acquisitions and affiliations that are geared toward improving the quality or cost effectiveness of care as opposed to dominating markets HFMA s Value Project research launched in 2010 marked its fifth anniversary this year by issuing an e book that compiles all 10 Value Project reports into a single 200 plus page sourcebook Encompassing surveys in depth interviews and site visits with healthcare organizations throughout the country the research detailed in the sourcebook can be distilled into 10 key action steps for providers seeking to improve healthcare value Define value from the care purchaser s perspective Value is the relationship between the quality of care received and the total cost of care to the purchaser Build four key capabilities for value These include people and culture business intelligence performance improvement and contract and risk management Align around a common set of value metrics that are relevant to the purchaser These metrics should clearly relate to the Triple Aim of improved patient experience improved population health and reduced per capita costs of care Define the organization s value proposition The optimal position is likely one in which the organization can demonstrate lower total cost of care to the care purchaser Be prepared to take on shared challenges Virtually all healthcare organizations seeking to improve value face challenges related to unclear metrics inflexible cultures and organizational structures limited stakeholder alignment expectations of diminished future revenue uncertainty about future payment and care delivery models and patient engagement Also recognize the challenges that are unique to different types of provider organizations Academic medical centers rural hospitals highly aligned and integrated systems multihospital systems and stand alone hospitals each face their own set of challenges Seize opportunities to create value that are unique to different types of organizations For example multihospital systems can leverage economies of scale to achieve greater cost efficiencies while stand alone hospitals are often more nimble and better able to foster adaptable cultures Let go of old assumptions about competition and collaboration Market conditions and organizational needs are opening up collaborative possibilities for organizations that may have viewed one another as competitors Identify economic linkages between physicians and hospitals that can facilitate pursuit of the same objectives Such linkages may or may not involve physician employment which is just one of many models to promote greater alignment between physicians and health systems Recognize that cost containment alone is not enough to deliver better value Focus on reconfiguring an organization s cost structure by identifying opportunities for cost savings and making strategic investments in population health management infrastructure Download The Healthcare Value Sourcebook About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Monday June 22 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=31710 (2016-02-10)
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  • HFMA Selects Cathy Dougherty for Individual Achievement Award
    of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Thursday April 16 2015 BACK TO PAGINATION April 16 Westchester Ill The Healthcare Financial Management Association HFMA has chosen Cathy Dougherty as the recipient of the 2015 Frederick C Morgan Individual Achievement Award Dougherty a Certified Healthcare Financial Professional and a Fellow of HFMA is the 57th recipient of this award which honors career long contributions to HFMA and to the healthcare finance profession Dougherty began her HFMA affiliation in 1984 in the South Carolina chapter After six years she transferred her membership to the Georgia chapter where she has been actively engaged since 1990 Noting that the Georgia chapter was inspired to create a distinguished mentorship award that bears Dougherty s name HFMA President and CEO Joseph J Fifer said Through her willingness to share her talents and her generosity of spirit Cathy Dougherty has made a difference in the lives of countless HFMA members over the years Her contributions to both her home chapters and her fellow members are unsurpassed Dougherty is vice president of revenue cycle management at Gwinnett Hospital System in Lawrenceville Ga where she has been employed since 1990 Dougherty has served HFMA in many roles including Georgia chapter president in 2005 06 a three year term on the Revenue Cycle Forum from 2007 2010 and regional executive for Region 5 in 2013 14 At the national level Dougherty is a recipient of the Follmer Bronze Reeves Silver and Muncie Gold awards and the Founder s Medal of Honor She also received the Ann P Longshore Distinguished Service Award and the Charles H Anderson President s Award among others from the Georgia Chapter Additionally in 2012 Dougherty was named as the first recipient of the Georgia Chapter s Cathy H Dougherty Distinguished Mentor Award The Frederick C Morgan Award will be presented during the Association s annual conference in Orlando Fla on June 25 About HFMA With more than 40 000 members the Healthcare Financial Management Association HFMA is the nation s premier membership organization for healthcare finance leaders HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U S healthcare system faces today Working with a broad cross section of stakeholders HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices We help healthcare stakeholders achieve optimal results by creating and providing education analysis and practical tools and solutions Our mission is to lead the financial management of health care Publication Date Thursday April 16 2015 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

    Original URL path: http://www.hfma.org/Content.aspx?id=29701 (2016-02-10)
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  • The MetroHealth System: Profile of a Patient Financial Communications Adopter
    board emergency department operating room delivery physical therapy and other procedures with clear explanations of what is and is not included in the prices Read the press release Learn more about the Best Practices and apply for recognition as an Adopter Publication Date Monday June 09 2014 BACK TO PAGINATION To qualify for recognition as a Patient Financial Communications Adopter MetroHealth affirmed that it follows all of HFMA s Patient Financial Communications best practices 90 percent or more of the time With nearly 135 000 patient days and more than 100 000 emergency department visits logged in 2013 that is no small accomplishment What makes it even more remarkable is that this public healthcare system which has been serving the Cleveland metropolitan area since 1837 is in the midst of a major campaign to modernize and replace its flagship hospital Clearly MetroHealth has not allowed limited resources and competing priorities to stand in the way of creating a superior financial experience for all of its patients including the uninsured As MetroHealth President and CEO Akram Boutros MD stated in a recent all staff newsletter Believing that everyone should have an equal opportunity for health care MetroHealth has been creating ways to extend care to people who previously went without We believe that people should receive health care regardless of their financial situation Here are five ways that MetroHealth demonstrates its commitment to excellence in patient financial communications Commitment starts at the top The cover story under the CEO s byline in the March 2014 issue of MetroHealth s all staff newsletter outlines the MetroHealth Financial Assistance Program and reaffirms the organization s commitment to making quality care available to all community members in a way that is financially feasible for them The finance department emphasizes employee engagement The finance department has its own vision mission and companion values which makes it easy for employees at all levels in the department to see how what they do contributes to the overall mission of the organization The finance department developed their companion values based on the System values which are Service to Others Teamwork Accountability Respect Inclusion and Diversity and Quest for Excellence Information about billing and payment is easy for patients to find and understand Comprehensive online information includes a list of frequently asked questions the phone number to call for assistance and the hours during which phone support is available and a glossary Complete information about MetroHealth s financial assistance program is also prominently displayed on the organization s website accessible through the Patient Financial Services tab in the left navigation bar Bills are patient friendly MetroHealth combined all physician services and hospital services to a single statement for services incurred on or after Feb 1 2014 This single patient statement was designed by its patients through a focus group MetroHealth has posted a sample bill online including explanations of various sections and what they mean Prices are posted online The MetroHealth System posts a price list showing charges for room and board emergency department operating room delivery physical therapy and other procedures with clear explanations of what is and is not included in the prices Read the press release Learn more about the Best Practices and apply for recognition as an Adopter Publication Date Monday June 09 2014 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

    Original URL path: http://www.hfma.org/Content.aspx?id=23183 (2016-02-10)
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