HFMA’s Peer Review process takes you through eleven steps:

1.   Initial Screening 

Peer Review Process

HFMA’s Peer Review team reviews the completed application and all supporting documents to determine if the healthcare business solution, as well as the business, is qualified to participate in the HFMA Peer Review program. Overall qualifications include:

  • A credible company with a high-quality business solution that adds value to HFMA members and their organizations
  • An appropriate fit with the needs of HFMA’s members and customers
  • An appropriate fit with HFMA’s business strategy and brand
  • Strong market performance and other pertinent considerations

2.   Identification of Customers and Prospects

The company supplies contact information on 25 current customers (using the business solution for at least 6 months) and 5 prospects who did not buy the business solution. These contacts will participate in the online survey.

3.   Selection of Peer Review Panelists

HFMA identifies up to 6 HFMA Peer Review panelists to participate in a demonstration or presentation and complete an online survey. The company suggests relevant panelists’ expertise.

4.   Online Survey

Reviewers (including customers, prospects, non-purchasers, and panelists) take the survey online, evaluating healthcare business solutions for:

  • Enhanced productivity for the individual user and customer’s organization
  • Ease of installation and use
  • Accuracy and reliability
  • Good value for the price
  • Excellent technical support and customer service

5.   Compilation of Results

HFMA compiles survey results and produces a weighted score chart based on Peer Review criteria.

6.   Legal Review

HFMA counsel discusses the healthcare business solution with each company, including how the company oversees compliance and any other pertinent legal issues.

7.   Review of Preliminary Report

HFMA’s Peer Review team reviews scores and all supporting documents to determine which healthcare business solutions have merited the designation by achieving high survey scores and an overall positive rating from reviewers.

8.   Peer Review Status Approval

HFMA notifies the company of the outcome and shares anonymous feedback collected during process.

9.   Establishment of Licensing Agreement

Terms of the license and/or marketing agreements, marketing activities, and licensing fees are finalized.

10. Launch and Marketing

The company informs customers, places the HFMA Peer Reviewed logo on packaging and marketing materials, and works with HFMA on other marketing opportunities.

11. Interim Assessment

Eighteen months into the agreement, 25 current customers (using the business solution for at least six months) are surveyed to assess the ongoing value of the Peer Reviewed business solution to HFMA, its members and their organizations, and to ensure that it continues to fulfill the Peer Review criteria. 

Note: This outline assumes that the healthcare business solution meets the criteria of each step in the process. At any point in the process, HFMA may conclude this process if the healthcare business solution does not meet HFMA’s criteria.