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4 opportunities to improve mid-cycle revenue operations
The quality of a hospital’s revenue cycle processes directly impacts the health of its bottom line. In an age of stagnant margins, hospitals should do all they can to improve revenue cycle efficiency. The mid-cycle—that critical phase between patient registration and claims submission — is a great place to start. Numerous challenges arise during this…
Annual Conference: Keynote speaker Thomas Fisher tells a disturbing story about denial of care
Thomas Fisher, MD, MPH, author and emergency room physician for University of Chicago Medicine, might have made some members of the audience uncomfortable Tuesday at HFMA’s Annual Conference as he described a scenario that reflects poorly on at least one hospital. The situation boiled down to this: A man with a broken jaw and without…
Kenneth Stoll Receives HFMA Individual Achievement Award
Nashville, Tenn. (June 27, 2023) – The Healthcare Financial Management Association (HFMA) today presented Kenneth Stoll with the 2023 Frederick C. Morgan Individual Achievement Award, honoring career-long contributions to HFMA and to the healthcare finance profession. Stoll has been vice president of strategic accounts at RevSpring, based in Nashville, since January 2020. He previously held…
James Heffernan Receives HFMA Individual Achievement Award
Nashville, Tenn. (June 27, 2023) – The Healthcare Financial Management Association (HFMA) today presented James L. Heffernan, FHFMA, MBA, with the 2023 Frederick C. Morgan Individual Achievement Award, honoring career-long contributions to HFMA and to the healthcare finance profession. Heffernan was the senior vice president of finance and treasurer of the Massachusetts General Physicians Organization…
New HFMA Chair Dennis Dahlen and other directors take office
Nashville, Tenn. (June 27, 2023) – The Healthcare Financial Management Association (HFMA) today inducted Mayo Clinic Chief Financial Officer Dennis E. Dahlen, FHFMA, MBA, CPA, into office as Chair of its Board of Directors for the 2023-24 term, which began on June 1, 2023. In his role as the chief elected officer of HFMA, Dahlen…
Annual Conference: Joe Fifer says goodbye
In the 11 years that Joseph J. Fifer led HFMA, he successfully guided the Association through some difficult events. The COVID-19 pandemic, the social unrest related to racial issues and enduring political divisiveness were among the challenges experienced by HFMA under his watch. But Fifer never gave up on promoting the benefits of personal connections…
Annual Conference: HFMA MAP Award winners for High Performance in Revenue Cycle unveiled
At a time when healthcare executives must balance intensely competing priorities, 15 healthcare organizations have shown they can address revenue and patient engagement challenges successfully and, as a result, have earned a 2023 HFMA MAP Award for High Performance in Revenue Cycle. This year’s group of winners, announced June 25 in Nashville at the HFMA…
15 winners receive the 2023 MAP Award for high performance in revenue cycle
Chicago, June 25, 2023 – The Healthcare Financial Management Association (HFMA) announced the 2023 winners of the MAP Award for High Performance in Revenue Cycle, including an integrated delivery system, four hospital systems, three individual hospitals, two critical access hospitals and five physician practices. HFMA’s MAP Award for High Performance in Revenue Cycle recognizes providers that have excelled in…
Denials Management Research Report
HFMA, with sponsorship from Waystar, surveyed 415 healthcare finance and revenue cycle executives to understand how denials are affecting their revenue cycle operations.
Survey reveals 5 opportunities to tackle denial prevention and management
In this survey, responses found when organizations devote greater resources to denial management than to denial prevention, their rate of first-pass denials is higher: 13.6% versus 10.9%.