The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, Connance has once again achieved the “Peer Reviewed by HFMA® ” designation for its Patient Pay Optimization suite.
The Connance Patient Pay Optimization solution suite optimizes hospitals’ patient-pay process from bill drop through bad debt. Connance predictive analytics supports the management, measurement, and integration of all activities of internal operations and outsourced vendors. The comprehensive suite addresses cash collection, third-party insurance discovery, and financial assistance efforts. Analytically driven workflows, sustained by performance management, increase net income and enhance the patient experience.
“In an era of rising patient responsibility, it is imperative that hospital organizations have a patient-centric strategy to improve financial results,” said Connance CEO Steve Levin. “We are pleased to participate in the HFMA Peer Review process to share the impact that Patient Pay Optimization has had on enhancing the patient financial relationship and generating more revenue for our clients.”
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 review comprising 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 have Connance renew their 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.”
With more than 40,000 members, 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.
About Connance, Inc.
Connance is the healthcare’s industry-leading provider of predictive analytics solutions that personalize the financial and clinical experience for patients. Transforming the revenue cycle and value-based care delivery, Connance leverages data science, integrated to workflow to drive enhanced performance. Connance delivers Patient Pay Optimization, Reimbursement Optimization, and Value-Based Risk solutions that combine our data, hospital data and consumer data to stratify patients based on social determinants to predict behavior and provide actionable insights to improve net income and patient outcomes. Connance solutions connect more than 500 hospitals, over 1000 physician practices and other clinical locations, and more than 80 collection agencies nationwide creating the largest research database of its kind. For more information call (781) 577-5000 or visit www.connance.com.