(See demo at www.hfma.org/mapapp)
WESTCHESTER, Ill.--(BUSINESS WIRE)-- HFMA has officially launched a groundbreaking web based tool that enables hospitals to track performance at each stage of the revenue cycle, compare their results with those of peer groups and the industry, and identify proven strategies to achieve revenue cycle excellence.
The MAP App, part of HFMA’s MAP initiative, was developed by and for industry leaders under HFMA leadership. The application is a component of HFMA’s new MAP initiative, which gives hospitals the tools they need to measure revenue cycle performance, apply evidence-based strategies for improvement, and perform to the highest standards of revenue cycle excellence.
What Healthcare Leaders Are Saying About MAP App
Christopher Johnson, FHFMA, Vice President Financial Services, Carolinas HealthCare System, said, “We at CHS believe in the evidence-based focus HFMA has taken with the MAP initiative and that it is a significant step in helping hospitals achieve improved A/R performance.”
“In an environment of healthcare reform, hospitals and health systems need to do more with less,” HFMA President and CEO Richard L. Clarke, DHA, FHFMA, said. “In the revenue cycle, operating efficiently and securing appropriate payment are imperative. HFMA’s new MAP App is a tool for evidence-based performance improvement to help hospitals identify and meet their revenue cycle goals.”
Jay Tennant, Manager of Revenue Cycle Reporting & Analysis, Rush University Medical Center, added, “The MAP App should become a staple for management across the medical center to track revenue cycle metrics online all in one place. MAP App allows me to quickly look at a metric and identify root causes as to why it may be trending up or down. In addition, it gives us a new opportunity to compare ourselves to peer groups. We plan on using these rankings to set goals for the revenue cycle on a monthly and fiscal year basis. The App will essentially give us a well-defined process for monitoring our continuous improvement.”
Like the MAP initiative as a whole, the MAP App was created with extensive input from healthcare providers. The MAP Keys, which are the basis for MAP App measurement, were developed by a task force of industry experts. The features and functionality of the MAP App were designed based on extensive discussion and testing with hospital and health system revenue cycle leaders.
Key Features of MAP App
- Standard indicators of revenue cycle excellence, called MAP Keys, that are the basis for measuring revenue cycle performance
- A dashboard that tracks an organization’s performance in key areas and highlights trends
- The ability to create customized peer groups for performance comparison
- A revenue cycle scorecard that ranks an organization’s performance against peer groups and targets
- Aggregated user data that yield monthly industry benchmarks and trends
- Case studies that identify proven strategies of MAP Award winners and other top performers
- Monthly updates that provide hospitals with performance data that are timely, accurate, and audited
- Automated alerts that notify hospitals of changes in performance
- Online community discussion forum
If you would like additional information on HFMA’s MAP App or HFMA’s MAP: Revenue Cycle Excellence initiative, please contact Karen Metropulos at 708-492-3329. View the MAP App demo at www.hfma.org/mapapp.
About HFMA’s MAP
HFMA’s MAP is a comprehensive strategy that establishes the definitive indicators of revenue cycle performance (MAP Keys), offers a web-based tool (MAP App) to track performance throughout the cycle and recommend improvements, honors excellence through the MAP Award, and shares evidence-based lessons from the leaders at the annual MAP Event.
The Healthcare Financial Management Association (HFMA) provides the resources healthcare organizations need to achieve sound fiscal health in order to provide excellent patient care. With over 35,000 members, HFMA is the nation's leading membership organization of healthcare finance executives and leaders. We provide education, analysis, and guidance; we lead change and innovative thinking; and we create practical tools and solutions that help our members get results. Addressing capital access to improved patient care to technology advancement, HFMA is an indispensable resource on healthcare finance issues. www.hfma.org
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