The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, GE Healthcare has been awarded the “Peer Reviewed by HFMA®” designation for its CentricityTM Business Revenue Cycle solution. Originally certified in 2013, GE Healthcare is proud to have been awarded for the second time, now holding this designation for the fifth consecutive year.
The Peer Review survey of 22 industry executives and users was completed in January 2018. All participants “agree” or “strongly agree” they would recommend Centricity Business to a colleague, and that the solution has enhanced revenue cycle productivity. Additionally, 96 percent indicated that the solution delivers good value for the cost. In an open-ended question, respondents noted workflows, integration, flexibility, and ease of use as some of the most valuable aspects of Centricity Business.
Centricity Business is an enterprise-ready, high-performing and interoperable healthcare revenue cycle management solution that helps hospitals, large practices, and billing services provider organizations optimize critical outcomes such as cost to collect, first pass denials, and aged accounts receivable. Centricity Business enables customers to create a single patient financial record across inpatient and outpatient care settings for greater visibility, flexibility, and an improved patient experience while reducing cost to collect through low-touch, highly automated workflows. Centricity Business can also help organizations successfully transition to value-based payments by effectively managing alternative payment models such as partial or full capitation and bundled payments.
GE Healthcare integrates with virtually any electronic health record and can help facilitate clinical and financial analytics across the enterprise while delivering informed workflows that drive the outcomes that are critical to organizations’ success. The company’s progressive outcomes-based digital solutions promote interoperability and collaboration between healthcare ecosystem-level participants to enable cross-continuum financial management through a central platform.
“As the healthcare industry undergoes change, our customers face significant headwinds. Revenue cycle efficiency is increasingly important to their future success,” said Shiv Gopalkrishnan, Vice President and General Manager of GE Healthcare’s Enterprise Financial Management solutions business. “GE Healthcare is committed to delivering revenue cycle innovation that enables the financial outcomes and patient experience that healthcare providers seek to thrive in tomorrow’s healthcare landscape.”
HFMA’s Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel of current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the healthcare business solution and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
“We’re pleased to award GE Healthcare with the 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 healthcare business solution meets an objective, third-party assessment of overall effectiveness, quality, and value.”
The Healthcare Financial Management Association (HFMA) is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care.