Spectrum Health is among 23 health providers in the nation recognized for the quality of its revenue cycle management.
The Healthcare Financial Management Association (HFMA) announced Spectrum Health as one of the 2020 winners of the MAP Award for High Performance in Revenue Cycle.
Spectrum was the only organization in Michigan to earn this distinction.
“Our revenue cycle team lives Spectrum Health’s mission and values, using best practices that align with patient expectations and needs,” said Matthew Cox, chief financial officer of Spectrum Health System. “Our team works diligently to help make Spectrum Health affordable and exceptional, and to see their hard work recognized by HFMA is remarkable.”
MAP is a comprehensive strategy that allows organizations to measure revenue cycle performance using the industry-standard MAP Keys; apply evidence-based strategies for improvement and perform to the highest standards to improve financial results and patient satisfaction.
“During a time when many consumers have lost jobs and health insurance coverage as a result of the COVID-19 pandemic, the consumer-friendly business practices exemplified by our 2020 winners are more important than ever,” HFMA President and CEO Joseph Fifer said.
Spectrum Health took the following steps to improve patient experience:
- Simplified and streamlined the ability for patients to access services at medical locations, delivering more self-service options when patients seek care.
- Improved price transparency to better inform patients of their cost of services prior to appointments.
- More proactively engaged and communicated with patients to offer support with financial counseling as well as education on payment plan options.
- Provided a more seamless experience in resolving medical debt, supporting patients through an often confusing and challenging time.
The award will be formally presented July 17 during a virtual session of this year’s HFMA Annual Conference.