Chicago – April 22, 2014 – The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, Healthcare Payment Specialists (HPS) has once again achieved the "Peer Reviewed by HFMA®" standard for its Stingray™ service including: Medicare Bad Debt, Disproportionate Share, Transfer DRG, and Shadow Billing.
Stingray™ is a software platform that automates the review and processing of Medicare and Medicaid reimbursement reviews for Bad Debt, Disproportionate Share, Transfer DRG, and Shadow Billing. Some of the features of Stingray™ include its ability to process multiple lines of review from a single data set and be implemented within a healthcare provider as a software as a service (SaaS) application for use by a healthcare provider’s internal reimbursement team.
“We are excited to receive the HFMA Peer Review designation,” said Todd Doze, President and CEO of HPS. “HPS developed Stingray™ to provide hospitals and health systems with a way to optimize their reimbursement more effectively and efficiently. This prestigious designation validates that Stingray™ has achieved this objective.”
HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of products and services used in the healthcare workplace. The rigorous, eleven-step process includes a Peer Review panel review comprised of current customers, prospects who have not made a purchase, and industry experts. Peer Review status of the product or service and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
"We’re pleased to have Healthcare Payment Specialists renew their HFMA Peer Reviewed designation," says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. "The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed product or service meets an objective third-party assessment of overall effectiveness, quality, and value."
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.
About Healthcare Payment Specialists
Founded in 2002 and located in Fort Worth, Texas, Healthcare Payment Specialists, LLC (HPS), specializes in working with hospitals and health systems to optimize their reimbursement strategies.
HPS’s solutions focus on the complex claim-based and cost reporting issues of Medicare DSH and Bad Debt log prep, Transfer DRG, Medicaid and Medicare Eligibility and Medicare Advantage Shadow Billing (IME/GME, HITECH Compliance).
HPS’s solutions are driven by Stingray™, the only SaaS based platform that analyzes several revenue-reporting segments and returns approved reporting and analysis complying with all MAC and Medicare reporting requirements. The platform is complemented by a strong professional and technical staff with deep experience with the complexities of government reimbursement.
HPS has created a new industry standard by recovering over $600mm in reimbursement on behalf of 500+ active hospital clients and delivering 3,500+ reporting projects throughout every MAC region of the country.
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