Chicago - June 23, 2005 – The Healthcare Financial Management Association (HFMA) recently examined Innovative Health Solution’s (IHS) CDMFOCUS Pricing Systems using the Peer Review Process and after undergoing the rigorous review, IHS’ CDMFOCUS Pricing Systems has been granted the “Peer Reviewed by HFMA” designation.
"IHS develops coding, compliance, reimbursement and information management systems. The CDMFOCUS Pricing Systems include a Comparative Pricing system that allows hospitals to create customized peer groups from a database outpatient claims from more than 5,000 hospitals by which to compare their prices, costs and charge to cost mark-up factors at the HCPCS level. The CDMFOCUS Strategic Pricing module further allows hospitals to establish prices taking these market factors into account as well as net revenue goals and the actual cost of the line item procedure.
“We are very pleased with this designation, especially since it comes from our customers who have validated the performance of the CDM FOCUS suite and who are actually benefiting from its ability to increase net revenue while also remaining in compliance,” said Fred Stodolak, chairman and CEO of IHS. “We worked diligently to provide a solution that would make a major contribution to improving the financial performance America’s healthcare providers.”
The Peer Review Process validates the accuracy, effectiveness, marketplace acceptance and value of products and services that HFMA members are currently using. The goal of the review is to identify products and services that deliver organizational savings and performance improvement and that enhance HFMA members’ day-to-day business interactions and careers.
“For years HFMA members have asked us to identify viable healthcare finance resources and to filter some of the noise in the market place,” says HFMA President and CEO Richard L. Clarke, FHFMA. “We see the new Peer Review Process as a powerful opportunity to do just that."
Criteria for a product to display the HFMA Peer Review mark includes high survey scores for:
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Enhanced productivity for the individual user and for the customer’s organization;
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Ease of installation and use;
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Accuracy and reliability;
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Good value for the price;
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Excellent technical support and customer service; and
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An overall positive rating from reviewers based on a quantitative scale
About HFMA
HFMA is the nation's premier membership organization for more than 32,000 healthcare financial management professionals employed by hospitals, integrated delivery systems, managed care organizations, ambulatory and long-term care facilities, physician practices, accounting and consulting firms, and insurance companies. Members' positions include chief executive officer, chief financial officer, controller, patient accounts manager, accountant, and consultant. HFMA offers educational and professional development opportunities, information on key issues, technical data and networking opportunities, with the ultimate goal being to create a more supportive environment in which members do their business. For more information, visit the Association’s Web site at www.hfma.org.
About Innovative Health Solutions
Innovative Health Solutions is a leader in the development of coding, compliance, reimbursement and information management systems. Today, over one-third of the nation’s healthcare providers, major IT vendors and managed care organizations use IHS systems and solutions to increase revenue, optimize reimbursement, enhance decision support, improve cash flow and ensure coding compliance. IHS products help customers achieve optimal financial results in an era of ever-diminishing resources and expanding regulatory complexities. .
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