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The HFMA Peer Review Process
A prospective company, with a product or service that they would like to have Peer Reviewed, must fill out an application to find out if they are qualified to participate in HFMA's Peer Reviewed program. If qualified, there is an 11-step high-level screening process that they must complete before earning the Peer Review designation.
HFMA's peer review process takes you through 11 steps
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
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.
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.
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
HFMA compiles survey results and produces a weighted score chart based on Peer Review criteria.
HFMA counsel discusses the healthcare business solution with each company, including how the company oversees compliance and any other pertinent legal issues.
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.
HFMA notifies the company of the outcome and shares anonymous feedback collected during process.
Terms of the license and/or marketing agreements, marketing activities, and licensing fees are finalized.
The company informs customers, places the HFMA Peer Reviewed logo on packaging and marketing materials, and works with HFMA on other marketing opportunities.
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.
Peer review status approval of the product or service and its performance claims are based on the following criteria:
- The product or service has demonstrated that it provides a return on investment; can improve productivity or process effectiveness; meets its promoted benefits; and is accurate, effective and easy-to-use.
- The vendor has demonstrated superior customer service and technical support of the product or service.
- The vendor delivers excellent customer relations to effectively and efficiently resolve customer issues as they relate to the product or service under consideration.
- The product or service is based on practical industry knowledge and proven experience.
- The vendor and the product or service maintain a reputation of integrity in the healthcare field.
After successfully completing the process and earning the designation, vendors may promote their product or service with a "Peer Reviewed by HFMA" mark.