Redefining healthcare financial KPIs in a post-COVID era: A strategic imperative
The COVID-19 pandemic compelled hospitals and health systems to rethink nearly every aspect of their operations. Nowhere was the disruption more profoundly felt than in the revenue cycle. Long-standing financial key performance indicators (KPIs) such as accounts receivable (AR) days, clean claim rates and denial percentages, quickly lost their relevance amid staffing shortages, unpredictable patient…
Understanding the true cost to collect requires focusing on high-level KPIs
Revenue cycle management leaders from around the country share their perspectives on defining and maintaining a high-performance revenue cycle and the challenges they face in working to enhance revenue cycle management.
7 KPIs providers should be tracking
Health systems and provider organizations are facing enormous challenges. In a recent poll, providers ranked five of their most pressing issues, which were staffing (58%), expenses (20%), revenue (17%), technology (2%), and other (2%), according to the MGMA. The poll also found that costs have been outpacing revenue for nine in ten respondents. In addition…
How healthcare providers can break down barriers to effective data governance
Promoting improved data governance in the hospital and health system sector has become a just cause of sorts for Randy Albert, who serves as vice president of finance – operations and analytics at Maine-based Northern Light Health and is a member of HFMA’s Northern New England Chapter. “This is a topic that I’m incredibly passionate…
How to protect your revenue cycle on the road to price transparency compliance
While the CMS hospital price transparency rule has been in place for more than a year now, the vast majority of hospitals are still noncompliant.
Revecore helps hospitals outsource complex claims for faster and increased recovery
How do you help healthcare organizations navigate the biggest challenges in healthcare? Complex Claims (motor vehicle, workers’ comp and Veterans Affairs) represent a very small volume, are extremely manual and are highly unique to all other claims. Revecore gives hospitals the opportunity to outsource these claims to a firm with unparalleled technology and 22+ years…
HFMA recognizes the 2020 winners of the MAP Award for revenue cycle excellence
During Day 4 of the Digital Annual Conference, HFMA recognized the 23 winners of the 2020 MAP Awards.
HFMA’s Digital Revenue Cycle Conference Sept. 30 and Oct. 2 will focus on how healthcare providers can build a consumerism strategy and use consumer-centric KPIs
HFMA's Digital Revenue Cycle Conference features 20 presenters during live sessions, the ability to earn CPE credits and time for networking and peer-engagement.
HFMA presents the 2021 MAP Award for High Performance in Revenue Cycle to 32 organizations
Presented this year as part of HFMA’s Annual Conference Virtual Preview, the MAP Awards honored organizations that used innovative and effective strategies to achieve excellence in revenue cycle performance in 2020-21.
HFMA’s virtual revenue cycle and price transparency series focuses on helping health systems re-engage consumers and improve financial performance
Beginning March 1, healthcare finance professionals can participate in several educational sessions and peer-to-peer discussions by enrolling in HFMA's virtual revenue cycle and price transparency workshop.