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Discussion of Trump Administration Healthcare Policies Slated for Inauguration Week

Amid widespread speculation about the future of the Affordable Care Act, Medicare, and other healthcare regulations and programs in the wake of the federal election, the Healthcare Financial Management Association (HFMA) has assembled a blue-ribbon panel to discuss the future of health care on Jan. 16, 2017. The web-based discussion, “Washington Update: What a New Administration Means for Health Plans, Provider Organizations, and Physicians,” will feature former Secretary of Health and Human Services Mike Leavitt, founder and chairman of Leavitt Partners, a healthcare intelligence

Environmental Assessment Explores Impact of Consolidation in the Healthcare Industry

Healthcare organizations will be challenged to prove that the changing healthcare landscape has created an environment in which consolidation actually improves value to consumers. That is the conclusion of Health Care 2020: Consolidation, a new report published by the Healthcare Financial Management Association. “Consolidation is a trend that’s here to stay,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “But controversy about the impact is ongoing. In many cases, consolidated entities have not demonstrated value to the communities served. Across the industry, the challenge

Environmental Assessment Provides Guidance for a Consumer-Centric Approach to Health Care

Two very different trends—increased patient cost sharing at the point of service and a shift to outcomes-based payment—have converged to catalyze a movement toward consumerism in the healthcare industry. Understanding what drives consumers and patients will be key to future success for all types of healthcare organizations. Those are the conclusions of Health Care 2020: Consumerism, a new report published by the Healthcare Financial Management Association (HFMA). “With many priorities competing for attention and resources, consumerism isn’t always on the short list of key priorities for

Environmental Assessment Maps Transition to Value for Healthcare Organizations

Although the details of new payment approaches that will replace fee for service in U.S. health care are very much in flux, the pace of change is accelerating and the roadmap for navigating the transition is becoming clear. Those are the conclusions of Health Care 2020: Transition to Value, a new report published by the Healthcare Financial Management Association. “Forward-looking organizations are not waiting for a tipping point that will only be identified once it’s in the rear-view mirror,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “They are collaborating with other

HFMA Recognizes Elliott Fisher for Contributions to Health Care

The Healthcare Financial Management Association presented its highest individual achievement award to Elliott Fisher, M.D., M.P.H., during HFMA’s annual conference today in Orlando. The Richard L. Clarke Board of Directors Award was presented to Fisher in recognition of his leadership in advancing the science of health care delivery and in developing new models of healthcare delivery and payment. Dr. Fisher is Director of the Dartmouth Institute for Health Policy and Clinical Practice and the John E. Wennberg Distinguished Professor of Health Policy, Medicine and Community and Family

Kaufman Hall Receives HFMA Peer Review Designation

Chicago – June 24, 2015 – The Healthcare Financial Management Association (HFMA) recently reviewed Kaufman Hall's Performance Management Suite using the Peer Review process. After undergoing the rigorous review, Kaufman Hall's Performance Management Suite has been awarded the “Peer Reviewed by HFMA®” designation. Kaufman Hall’s Performance Management Suite includes software applications for budgeting and forecasting, long-range planning, capital planning, decision support and analytics, and performance reporting. Built on the Axiom EPM technology platform, these sophisticated, flexible

HFMA’s Nebraska Chapter Receives Award for Sustained Excellence

The Healthcare Financial Management Association (HFMA) awarded its highest chapter honor—the Robert M. Shelton Award—to the Nebraska Chapter during HFMA’s annual conference in Orlando, Florida, on Tuesday. The award is given annually in recognition of five years of sustained excellence. “The Nebraska chapter has achieved outstanding results in the areas of education, membership growth, and certification,” said HFMA Chair Melinda S. Hancock, FHFMA, CPA. “This is even more impressive considering that Nebraska also received the Shelton award in 2010. These two awards represent a full 10

ClearBalance® Receives First HFMA Peer Review Designation for Return-On-Investment (ROI) Calculators

Chicago – June 22, 2015 – The Healthcare Financial Management Association (HFMA) recently reviewed ClearBalance 's ROI Value Model™ ROI calculator using the Peer Review process. After undergoing the rigorous review, the ClearBalance ROI Value Model has been awarded the “Peer Reviewed by HFMA®” designation. It is the first ROI calculator to earn HFMA’s Peer Review designation. The ClearBalance ROI Value Model establishes a benchmark for patient pay collection costs and net recovery. As patient payment becomes more important, finance leaders want a credible

New Edition of Consumer Guide to Healthcare Prices Is Published

The Healthcare Financial Management Association (HFMA) has published an updated version of its consumer guide to healthcare prices. The 2015 edition of Understanding Healthcare Prices: A Consumer Guide includes a new section designed to help consumers assess healthcare quality. “When making healthcare decisions, consumers should take both price and quality into account,” said HFMA president and CEO Joseph J. Fifer, FHFMA, CPA. “Although a great deal of quality information is available, it’s not always consumer-friendly. The updated guide offers tips that can help consumers find and sort

New Healthcare Financial Management Association Chair Melinda Hancock Takes Office

The Healthcare Financial Management Association (HFMA) inducted Melinda S. Hancock, FHFMA, CPA, into office as Chair of its Board of Directors for the 2015-2016 term, during HFMA’s annual conference in Orlando, Fla.  Her term began on June 1, 2015. Hancock is Partner at Dixon Hughes Goodman LLP, in Richmond, Va. In this role, Hancock’s executive leadership includes responsibility for development of services pointed to the mandatory elements of payment reform (i.e., value-based purchasing, readmissions, and hospital-acquired conditions), shared savings models, governmental and commercial

Report Urges Providers to Go Beyond Cost Containment to Cost Reconfiguration

Hospitals and health systems must shift resources away from established operations and services to enable investments in infrastructure for managing risk and population health, according to a new report released today by the Healthcare Financial Management Association (HFMA) at its annual conference in Orlando, Fla. The report, Strategies for Reconfiguring Cost Structure, describes an imperative to develop the infrastructure and capabilities for the emerging value-based payment and care delivery environment. That infrastructure will necessitate investments in IT and analytics, primary

Research Identifies 10 Key Action Steps for Improving Healthcare Value

Hospitals and physicians must focus on improving healthcare value and ensuring that consumers, employers, and other healthcare purchasers receive the benefit of value improvements. That’s the key finding that has emerged from five years of research on healthcare value, according to the Healthcare Financial Management Association. “The volume-to-value shift is pretty well understood in the industry on a conceptual level at this point,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “In addition to implementing strategies to drive value, provider organizations should close the

Validation of Return-On-Investment (ROI) Calculators Added to HFMA Peer Review Program

Chicago – June 2, 2015 – Evaluation and validation of return-on-investment (ROI) calculators designed for provider organizations is now available through the Peer Review program offered by the Healthcare Financial Management Association (HFMA). HFMA’s Peer Review ROI Calculator validation process is led by a dedicated panel of senior financial leaders, analysts, and customers evaluating calculators that claim ROI using the established and rigorous 11-step Peer Review process. The panel’s thorough and objective assessment ensures each calculator’s metrics are clearly defined, complete,

18 Revenue Cycle Award Winners Include First-Ever Awards for Physician Practices

Westchester, Ill. – May 21, 2015 – The Healthcare Financial Management Association (HFMA) announced the 2015 winners of the MAP Award for High Performance in Revenue Cycle, including seven hospital systems, seven individual hospitals, and four physician practices. HFMA’s MAP Award for High Performance in Revenue Cycle recognizes providers that have excelled in meeting industry standard revenue cycle benchmarks (MAP Keys), implemented the patient-centered recommendations and best practices embodied in HFMA’s Healthcare Dollars & Sense™ initiatives, and achieved outstanding patient

Precyse Renews HFMA Peer Review Designation

Chicago, IL – December 15, 2014 – The Healthcare Financial Management Association (HFMA) announced that Precyse, industry leader in Health Information Management (HIM) performance solutions, continues to achieve the "Peer Reviewed by HFMA®" standard for its HIM Technology & Services Suite. The Precyse HIM Technology & Services Suite includes: · Transcription – a combination of transcription technology, processes, and services that accelerate turnaround time, reduce cost, minimize capital outlay, and transform dictation into meaningful clinical information. · Clinical

Broader Approach Urged for Evaluating Financial Performance of Employed Physicians

(Nov. 21, 2014, Westchester, Ill.) – Current approaches to measuring the financial performance of employed physicians can obscure the value that employed physicians bring to an organization, according to new research released today by the Healthcare Financial Management Association (HFMA). Based on productivity alone, fewer than 25 percent of senior financial executives surveyed expected to see a positive return on investment during the first two years of physician employment, a finding that researchers described as “not surprising” in light of current payment methodologies and

HFMA CEO Fifer Among 100 Most Influential People in Healthcare

HFMA president and CEO Joseph J. Fifer, FHFMA, CPA, has been recognized by Modern Healthcare as one of the 100 most influential people in health care. This marks the first time that Fifer, who assumed his role at HFMA in June 2012, has been named to the list. “Under Joe’s leadership, HFMA is increasingly bringing the finance perspective and challenges to the national dialog about health care,” said HFMA 2014-15 chair Kari Cornicelli, FHFMA, CPA, vice president and CFO, Sharp Metropolitan Medical Campus, San Diego. “This recognition is well deserved.” According to Modern Healthcare,

Winners Announced for HFMA’s 2014 MAP Award for Performance Improvement in Revenue Cycle

Chicago – August 14, 2014 – Today, the Healthcare Financial Management Association (HFMA) announced the winners of the 2014 MAP Award for Performance Improvement in Revenue Cycle. The MAP Award for Performance Improvement recognizes healthcare organizations that demonstrate measurable improvement in MAP Keys – key performance indicators that set the standard for revenue cycle excellence in the healthcare industry. This year's winners of the Performance Improvement Award have shown how their targeted improvement initiatives have improved financial performance. “The winners of the MAP

HFMA Recognizes Kevin Lofton for Contributions to Health Care

(Las Vegas, June 25) The Healthcare Financial Management Association presented its highest individual achievement award to Kevin E. Lofton, CEO of Catholic Health Initiatives, during HFMA’s annual conference today in Las Vegas. The Richard L. Clarke Board of Directors Award was presented to Lofton in recognition of his extensive and far-reaching work in the area of healthcare disparities and his longtime, ongoing leadership in creating healthier communities. “Kevin Lofton has dedicated his career to creating healthier communities, both locally and on a national scale,” said HFMA

HFMA Recognizes Kevin Lofton for Contributions to Health Care

(Las Vegas, June 25) - The Healthcare Financial Management Association presented its highest individual achievement award to Kevin E. Lofton, CEO of Catholic Health Initiatives, during HFMA’s annual conference today in Las Vegas.The Richard L. Clarke Board of Directors Award was presented to Lofton in recognition of his extensive and far-reaching work in the area of healthcare disparities and his longtime, ongoing leadership in creating healthier communities.“Kevin Lofton has dedicated his career to creating healthier communities, both locally and on a national scale,” said HFMA

HFMA Presents Individual Achievement Award to Bob Broadway

(June 25, Las Vegas) –The Healthcare Financial Management Association (HFMA) presented Robert L. “Bob” Broadway, FHFMA, with the 2014 Frederick C. Morgan Individual Achievement Award during its annual conference in Las Vegas. A long-time leader of HFMA’s Florida Chapter, Broadway is the 56th recipient of this award, which honors career-long contributions to HFMA and to the healthcare finance profession.“Bob Broadway truly embodies the spirit of HFMA,” said HFMA President and CEO Joseph J. Fifer, in presenting the award. “His support and encouragement have helped so many to succeed both as

Three New Board Members Assume Office at HFMA

(Las Vegas, June 24) – During its annual conference in Las Vegas, the Healthcare Financial Management Association (HFMA) welcomed three new members to its Board of Directors for the 2014-17 term: Martin Arrick, Michael Dewerff, and Carole Faig. The new Board members bring financial acumen from various healthcare settings to their new roles with HFMA. Martin Arrick, MBA, MPH, is managing director in the corporate and government ratings group at Standard & Poor’s Ratings Services. He is the senior analytical leader and group spokesman for the not-for-profit healthcare group. Based in

HFMA’s Oregon Chapter Receives Award for Sustained Excellence

(Las Vegas—June 24, 2014) –The Healthcare Financial Management Association (HFMA) awarded its highest chapter honor—the Robert M. Shelton Award—to the Oregon Chapter during HFMA’s annual conference in Las Vegas on Monday. The award is given annually in recognition of five years of sustained excellence. “The Oregon chapter has seen outstanding results from the implementation of its multi-year strategic plan,” HFMA Chair Kari S. Cornicelli said. “A focus on adding value to chapter membership has been successful—the chapter not only improved member satisfaction but also exceeded its

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