Chicago — May 28, 2013 – The Healthcare Financial Management Association (HFMA) today announced that Cymetrix Comprehensive Revenue Cycle Solutions is now recognized as part of HFMA’s MAP Keys Compliant Program. Cymetrix is the third revenue cycle product validated by HFMA for extracting data that is consistent with HFMA’s MAP Keys—the industry’s standard revenue cycle metrics.
"Cymetrix strategically adopted MAP Keys as our standard to measure revenue cycle performance and net revenue realization," says Michael Halberda, President and CEO, Cymetrix. "By adhering to MAP Keys, Cymetrix delivers greater revenue cycle transparency to our customers using these industry standards. Our METRIX℠ technology is configured so providers can submit certified data to MAP App with a push of a button."
HFMA’s MAP App is the industry’s premier web-based application used by nearly 400 facilities to track data, analyze peer-to-peer comparisons, and improve performance throughout the revenue cycle.
Once Cymetrix submitted its solution for MAP Keys Compliant consideration, HFMA rigorously scrutinized the source data-capture, extraction, and reporting capabilities of the technology. HFMA then identified which specific data elements—and related MAP Keys—Cymetrix provides.
"Cymetrix endured the same intense scrutiny we place on every product submitted for MAP Keys Compliant consideration," says Paul Bielat, Vice President, Product Development, HFMA. "It’s clear Cymetrix Solutions provide reliable sources of data in relation to HFMA’s MAP Keys industry-standard benchmarking metrics and we’re excited to recognize this distinction."
Launched by HFMA in 2012, the MAP Keys Compliant Program helps providers identify information technology products that capture data needed to use key performance indicators (KPIs) to track, compare, and improve performance. HFMA’s revenue cycle KPIs, called MAP Keys, are industry-standard indicators of revenue cycle excellence designed to help healthcare finance professionals improve business intelligence, strengthen revenue cycle management, and decide where to focus for improvement.
The Healthcare Financial Management Association (HFMA) provides the resources healthcare organizations need to achieve sound fiscal health in order to provide excellent patient care. With more than 40,000 members, HFMA is the nation's leading membership organization of healthcare finance executives and leaders. HFMA helps its members achieve results by providing education, analysis, and guidance, and creating practical tools and solutions that optimize financial management. The organization is a respected and innovative thought leader on top trends and challenges facing the healthcare finance industry. From addressing capital access to improved patient care to technology advancement, HFMA is the indispensable resource for healthcare finance.
Healthcare Financial Management Association
Cymetrix is a comprehensive revenue cycle management company providing healthcare organizations and hospital-affiliated physician practices with end-to-end revenue cycle solutions and consulting services that deliver sustained improvement in performance and profitability. A privately held Delaware Corporation, Cymetrix has corporate headquarters in Irvine, Calif., and business processing centers in Los Angeles, Dallas, and Nashville. Cymetrix’s equity partner is Riordan, Lewis & Haden, a private equity investment company based in Los Angeles.
Publication Date: Tuesday, May 28, 2013