Consumerism Maturity Model FAQs
It’s a tool that providers of all types may use to determine the current maturity of their consumerism activities and identify areas for improvement. The model explores the world of healthcare from the consumer’s viewpoint and the activities commonly encountered by a consumer when seeking and receiving healthcare services.
Providers of all types, including hospitals, health systems and physician practices, will find the model helpful for improving their patient financial experience.
The model was drafted by a task force made up of knowledgeable revenue cycle professionals and others representing business partners and consumer groups. Feedback has been used to incorporate improvements in the value of the CMIS score.
No. The calculator does not ask for or accept organizational identification information, nor does it save information entered.
The model may be used as both a self-assessment and a process improvement tool. It includes nearly 300 specific attributes of the patient financial experience that provider organizations may use to benchmark their level of consumerism maturity and develop plans for improving the financial experience for patients in their role as consumers.
You will need to be familiar with your organization’s patient financial experience-related processes and capabilities so that you can determine which attributes in the model apply to your organization. You will also need to gather information on several key performance indicators: insurance verification rate, service authorization rate, cash collection as % of net patient service revenue, aged accounts receivable > 90 days; discharged not submitted to payer; and HCAHPS “would recommend” score. All the specifics are on the:
The Consumerism Maturity Model is built on HFMA’s Patient Financial Communications Best Practices, price transparency guidelines, and medical account resolution best practices, which are considered the foundation of a consumer-centric patient financial experience. The best practices are incorporated into the scoring criteria for many model components.
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No. For your privacy, the calculator does not save any information. That’s why we recommend completing the CMIS Worksheet before using the calculator.