Avance Care Wins HFMA 2023 MAP Award for Revenue Management Cycle Excellence
Primary care provider Avance Care earns prestigious HFMA MAP award in its first year of applying, earning national distinction among physician practices
Award demonstrates excellence in revenue cycle performance, best practices and patient satisfaction
Avance Care, an Alo company that offers comprehensive primary care services in more than 30 North Carolina locations, has been named a recipient of the 2023 MAP Award for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association (HFMA). Avance Care earned the distinction in its first year of applying and joins a select handful of other physician practices nationally in winning a 2023 MAP Award.
The award recognizes healthcare providers for meeting industry-standard revenue cycle benchmarks, implementing the patient-centered recommendations and best practices embodied in HFMA’s Healthcare Dollars & Sense® initiatives, and achieving outstanding patient satisfaction.
Revenue cycle management is the process healthcare providers use to manage administrative and clinical functions related to claims and payments. It is beneficial for providers as it maximizes financial stability and operational efficiency, leading to sustainable healthcare practices, while for patients, it ensures accurate billing, timely claims processing, and ultimately supports quality care delivery. Avance Care provides its revenue cycle services to a network of practices mostly owned and operated by independent providers. This high level of revenue cycle performance is vital to the sustainability and success of these essential community providers.
HFMA, the leading financial management organization in healthcare, is honoring MAP Award winners at its 2023 annual conference on June 25 in Nashville, Tenn. “Our team is excited to attend and be recognized for our commitment to revenue cycle management and patient satisfaction,” said Garland Goins Jr., Vice President of Revenue Cycle Management. “Maintaining financial excellence is culturally embedded as one our highest priorities at Avance Care.”
Added Matt Eirich, CEO of Avance Care and Alo, “The MAP Award is an outstanding achievement for any healthcare provider. It shows that meeting high standards for financial performance matters, not just for the provider, but also for patients, payers and our entire healthcare system.”
Created by and for healthcare leaders, HFMA’s MAP initiative sets the standard for revenue cycle excellence in the healthcare industry. 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.
