Patient Financial Communications

Hospitals reached steadier ground financially as they moved into 2024

Hospitals came into 2024 with some financial momentum, even as expenses continued to rise and pivotal decisions loomed. The year-to-date median hospital operating margin reached 2.3% in December, the high mark for 2023 and the 10th consecutive month in which margins were positive, according to monthly data from Syntellis Performance Solutions, part of Strata Decision…

Nick Hut February 12, 2024

Healthcare Blame Game: Patient Rights Advocate’s distortion of price transparency regulations and data, and the ad campaign that’s catching attention

Patient Rights Advocate (PRA) has engaged hip hop artists like Fat Joe, Busta Rhymes and Method Man in its “Power to the Patients” campaign, claiming that regulations around price transparency are not being enforced, allowing hospitals to hide their prices and “charge whatever they want.” On this episode, HFMA Policy Director Shawn Stack and Ruth Lande, vice president of hospital relations at RIP Medical Debt, discuss PRA’s misinterpretation of price transparency regulations and hospital pricing.

Erika Grotto February 5, 2024

Healthcare Blame Game: TIME hits the mark, Modern Healthcare misses, and a longtime HFMA member talks about why CFOs should build media relationships

Brad speaks with retired CFO and longtime HFMA member Jim Heffernan about why CFOs should be at the forefront of telling an organization’s financial story.

Erika Grotto December 13, 2023

RemitConnect® helps healthcare organizations automate manual posting and reconciliation processes

This HFMA Peer Review Spotlight explores the benefits of CommerceHealthcare's RemitConnect solution in complementing a healthcare organization's existing patient accounting or practice management system.

HFMA December 11, 2023

10 Keys to Restoring Trust in Healthcare

The issue of restoring consumer trust in the U.S. healthcare system encompasses a wide range of concerns. Factors in the perceived loss of trust include anxiety and confusion over costs, entrenched inequity, a glut of misinformation about vaccines and other treatments, and data and privacy breaches. To examine the problem and explore solutions, HFMA’s 16th…

Nick Hut December 7, 2023

CMS finalizes enhanced hospital price transparency requirements for 2024

Hospital price transparency mandates are set to become more stringent in the coming year as CMS seeks to strengthen regulations that have been on the books since 2021. Medicare’s 2024 final rule for hospital outpatient payments includes updates to the price transparency rules. Hospitals will need to post charge information using a more precise template,…

Nick Hut November 9, 2023

Buyer’s Guide: Patient financial engagement technologies

This whitepaper is a buyer’s guide to assist in understanding the benefits of how adopting new technology to increase patient financial engagement can improve the bottom line while improving the patient experience:

HFMA October 16, 2023

CMS pressures states to restore Medicaid coverage for some beneficiaries who have been disenrolled

CMS says a recent edict to state Medicaid programs has partially stanched the ongoing wave of disenrollments in the program, with about 500,000 beneficiaries set to regain coverage they had lost and “many” others protected from disenrollment going forward. As described in a Sept. 21 summary, 29 states plus Washington, D.C., have acknowledged a systemic…

Nick Hut September 25, 2023

Regulators seek feedback about medical credit cards as potential restrictions loom

A federal request for information signals heightened scrutiny on the issuance of credit cards in healthcare settings. The Consumer Financial Protection Bureau, Department of Health and Human Services and Department of the Treasury sent out an RFI in July to gain stakeholder feedback on whether the widespread availability of medical payment products such as credit…

Nick Hut August 17, 2023

In proposed regulations, CMS seeks to strengthen hospital price transparency requirements

Hospital price transparency regulations are undergoing changes heading into their fourth year as CMS seeks to step up enforcement while making compliance more straightforward. As part of the 2024 proposed rule for hospital outpatient payments, CMS is adding to the requirement for hospitals to maintain a machine-readable file of their charges for services. In addition,…

Nick Hut July 17, 2023
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