For the third consecutive year, Privia Medical Group received the 2018 MAP Award for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association (HFMA). The award celebrates industry leaders that utilize revenue-cycle strategies that measure objectively, apply evidence-based solutions, and perform to the highest standards of both financial results and patient satisfaction.
HFMA President and CEO Joseph J. Fifer included Privia as one of the “exceptional organizations” that display “superior processes for communicating complex financial issues to patients in understandable ways.”
“This award is confirmation to our providers, care centers and teams that their dedication is making a real difference in healthcare and improving their financial performance,” said Maureen Clancy, senior vice president of revenue cycle management at Privia.
Interested in seeing how to improve your own practice’s financial performance? Check out our revenue cycle management resources below:
Show Me the Money: Five Ways to Improve Your Practice’s Economics
In this fun “financial physical,” practices are prompted to evaluate their current financial practices and compare them to stronger — though achievable — models. By fostering compassion with the front-office staff, paying special attention to prior authorizations, and examining payer contracts, practices can adopt a few simple fixes to better their fiscal results.
Peak Practice Performance: Revenue Cycle
Senior Performance Consultant Jessica Folmar addresses the staggering statistic that 93 percent of patients are confused by their healthcare responsibility and the ramifications this has on a practice’s revenue cycle management. Folmar presents several solutions to educate patients, accurately calculate and predict payments, and improve cash flows.
Revenue Cycle Success: A Case Study in Patient Financial Communications Strategy
Maureen Clancy demonstrates Privia’s multifaceted revenue-cycle management practices using the hypothetical example of a patient with postural orthostatic tachycardia syndrome (POTS). To solve the patient’s problem of frequent, expensive emergency room visits, Privia enacts a coordinated, physician-led approach that uses electronic health records, care managers, and a pharmacist’s “benefits investigation” to deliver care at the right place, right time, and right cost.
The Break Room: Episode 1 – Creating a High-Performing Practice
The inaugural podcast examines the critical role front-office staff play in maintaining a high-quality revenue-cycle management process. Topics covered include the importance of a patient portal in streamlining visits, establishing upfront expectations with patients, and optimizing billing procedures.