SOURCE: Healthcare Financial Management Association
CHICAGO, IL--(Marketwired - May 29, 2014) - The Healthcare Financial Management Association (HFMA) recently reviewed the HFlex patient financing program through HealthFirst Financial using the Peer Review process. After undergoing the rigorous review, HealthFirst Financial has been awarded the "Peer Reviewed by HFMA®" designation.
HFlex offers options for patients who need a long-term, interest-free, or low-interest plan for paying self-pay and after-insurance balances. HFlex can be offered to any patient at any time in the revenue cycle. Providers can customize the repayment terms and interest according to the needs of the patient and receive immediate funding of up to 100% of the patient balance. After implementing the upfront funding program, HFlex can accelerate cash flow, reduce bad debt, and increase patient satisfaction.
"We are honored to be among The Short List that qualifies for HFMA's Peer Review designation and we intend to uphold the high standards in perpetuity," said Joe Hawes, President and CEO of HealthFirst Financial. "It is rewarding to know that our HFlex patient financing program has been recognized by our customers and industry experts as a quality healthcare product. This designation is another example of our commitment to offer an exceptional solution that helps both patients and providers."
HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of products and services used in the healthcare workplace. The rigorous, eleven-step process includes a Peer Review panel review comprised of current customers, prospects who have not made a purchase, and industry experts. Peer Review status of the product or service and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
"HFMA's Peer Review process provides our membership with the assurance that those who have earned the designation have undergone a rigorous screening process," says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. "The Peer Reviewed designation helps both members and non-members identify superior products and services. It can also create brand awareness and recognition in the healthcare finance marketplace for Peer Reviewed healthcare products and services."
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 more than 40,000 members, HFMA is the nation's leading membership organization of healthcare finance executives and leaders. HFMA helps its members achieve results by providing education, analysis, and guidance, and creating practical tools and solutions that optimize financial management. The organization is a respected and innovative thought leader on top trends and challenges facing the healthcare finance industry. From addressing capital access to improved patient care to technology advancement, HFMA is the indispensable resource for healthcare finance. hfma.org
About HealthFirst Financial
Since 2001, HealthFirst Financial has been reshaping the healthcare receivables industry by offering a win-win solution for providers looking for ways to manage patient balances in a way that is focused on both the patient experience and a provider's bottom line. HealthFirst Financial meets this need by funding up to 100% of the patient's out-of-pocket cost directly to the healthcare provider, while allowing patients to manage their balance with monthly payments that may extend up to 60 months. Program terms are flexible and interest rates may be customized to meet the needs of both the provider and the patient. HealthFirst Financial aligns with the mission and values of healthcare providers by offering the program to every patient regardless of credit score. healthfirstfinancial.com
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