New report: Surging claims denials are undermining working relationships between health systems and health plans
A new report from the Healthcare Financial Management Association reveals that relationships between health systems and health plans have worsened over the past three years, with 80% of surveyed CFOs blaming health plans for increasing denials and claim adjudication errors.
Healthcare Financial Management Association Recognizes Center for Medicare and Medicaid Innovation Director Elizabeth Fowler for Contributions to Healthcare
(Las Vegas) June 27, 2024 — The Healthcare Financial Management Association (HFMA) presented its highest achievement award, the Richard L. Clarke Board of Directors Award, to CMS Deputy Administrator and Director of the Center for Medicare and Medicaid Innovation (CMS Innovation Center) Elizabeth Fowler, Ph.D., J.D., today during HFMA’s annual conference in Las Vegas. The…
HFMA Announces Marc Scher as National Chair
Las Vegas (June 25, 2024) – The Healthcare Financial Management Association (HFMA) today during its annual conference inducted former KPMG LLP Partner Marc B. Scher, FHFMA, CPA, into office as its National Chair, effective June 1, 2024. Scher, a highly respected leader in the healthcare finance sector, brings nearly 40 years of experience and a…
17 winners receive the 2024 MAP Award for high performance in revenue cycle
Las Vegas (June 24, 2024) – The Healthcare Financial Management Association (HFMA) announced the 2024 winners of the MAP Award for High Performance in Revenue Cycle, including four integrated delivery systems, five hospital systems, three individual hospitals, two critical access hospitals and three physician practices. HFMA’s MAP Award for High Performance in Revenue Cycle recognizes…
Healthcare Financial Management Association Recognizes American Hospital Association President and CEO Rick Pollack for Contributions to Healthcare
(Las Vegas) June 24, 2024 — The Healthcare Financial Management Association (HFMA) presented its highest achievement award, the Richard L. Clarke Board of Directors Award, to Richard J. Pollack today during HFMA’s annual conference in Las Vegas. Pollack serves as president and CEO of the American Hospital Association (AHA), a position he has held since…
Healthcare Financial Management Association calls Patient Rights Advocate’s latest price transparency compliance report ‘irresponsible’
CHICAGO (March 7, 2024) – Long an advocate for consumerism and price transparency in healthcare, the Healthcare Financial Management Association (HFMA) today called the latest report from Patient Rights Advocate (PRA) “irresponsible” and “incorrect.” HFMA has maintained that to be effective, price transparency must offer clear information that is readily accessible to patients to enable them to…
Health Systems near their breaking point. Labor costs continue to increase while dollars collected from payers decrease.
CHICAGO — March 6, 2024 — Eighty four percent of health systems cite lower reimbursement from payers as a top cause of low operational margins, according to a report published by the Healthcare Financial Management Association (HFMA) and Eliciting Insights, a healthcare strategy and market research company. Further confounding health system margin struggles is the increased administrative…
HFMA Aligns with FinThrive to Introduce the Industry’s First Revenue Cycle Management Technology Adoption Model for Health Systems
CHICAGO — Nov. 30, 2023 — The Healthcare Financial Management Association (HFMA) announces a strategic alliance with FinThrive, Inc., a healthcare revenue cycle management software-as-a-service (SaaS) provider, to co-launch a five-stage Revenue Cycle Management Technology Adoption Model (RCMTAM) designed to help health systems leverage industry benchmarks to assess their current state of RCM technology maturity…
Healthcare Financial Management Association offers finance education in the Middle East
Chicago (Aug. 22, 2023) – The Healthcare Financial Management Association (HFMA) is offering a new international educational opportunity with a one-day healthcare finance session at the Global Health Exhibition in Riyadh on Oct. 31. Selat, a Riyadh-based revenue cycle management (RCM) consulting firm and their training firm Nawa, is the exclusive sponsor of the event. …
New report projects robust investment in healthcare revenue cycle and finance solutions, despite economic headwinds
CHICAGO (Aug. 16, 2023) – More than one-third of health system executives participating in a recent survey are planning to automate two or more revenue cycle management (RCM) or finance functions in 2024, according to a report published by the Healthcare Financial Management Association (HFMA) and Eliciting Insights, a healthcare strategy and market research company.…