IT for treating revenues at hospitals

CHICAGO: Healthcare Financial Management Association (HFMA) and Parallon Business Performance Groupsm, a business unit of Parallon Business Solutionssm, LLC, a recently-launched subsidiary of HCA Holdings, Inc., announced a collaboration to improve revenue cycle excellence for hospitals and healthcare systems nationwide through HFMA’s unique MAP initiative. As part of the partnership, Parallon will provide HFMA with key financial data from HCA’s 164 hospitals. This additional data is intended to enrich the ability of hospitals nationwide to track and compare performance based on industry-standard measures.

“HFMA is pleased to collaborate with Parallon to improve the data sources and tools used for enhancing revenue cycle performance in our industry. The combined resources and commitment of our organizations will help hospitals and systems use objective data to drive evidence-based performance improvement, furthering their ability to provide excellent patient care,” said HFMA President and CEO Richard L. Clarke, DHA, FHFMA.

Launched by HFMA in 2010, the MAP initiative, as said in the press release, is an approach to managing revenue cycle performance for hospitals and healthcare systems nationwide. It is comprised of four key elements: 1) MAP Keys, which establish the definitive indicators of revenue cycle performance; 2) MAP App, which is a web-based application that tracks financial performance and enables benchmarking with peer groups; 3) MAP Awards to recognize excellence in hospitals and healthcare systems; and 4) MAP Events designed to share evidence-based lessons, best practices and the experiences of MAP users who have demonstrated success with the system.