The University of Texas Medical Branch has been named a recipient of the 2024 MAP Award for High Performance in Revenue Cycle, sponsored by the Healthcare Financial Management Association.
“Receiving an HFMA MAP award and being recognized as a High Performing Revenue Cycle is extremely rewarding and a testament to the work we’re doing each and every day,” said Jamie Bailey, executive vice president and chief financial officer at UTMB.
“I’m grateful and proud to lead a team of passionate, dedicated employees who have an unwavering commitment to our mission,” Bailey said. “A high-performing revenue cycle is crucial to the success of our organization and its patients, as it ensures financial stability and enables us to deliver high-quality care efficiently.”
As a national award winner, UTMB has:
- Met industry-standard revenue cycle benchmarks (MAP Keys®)
- Implemented the patient-centered recommendations and best practices embodied in HFMA’s Healthcare Dollars & Sense® initiatives
- Focused efforts on improving price transparency
- Achieved outstanding patient satisfaction
UTMB was recognized as an award winner in the integrated delivery systems category during the HFMA annual conference in Las Vegas this week.
“These organizations have demonstrated their commitment to putting patients first when it comes to their billing and payment practices,” HFMA President and CEO C. Ann Jordan, J.D., said. “Congratulations to all of the 2024 MAP Award winners for serving as role models for the field.”
Revenue cycle management is the financial process used to manage the administrative and clinical functions associated with claims processing, payment and revenue generation.
Created by and for health care leaders, HFMA’s MAP initiative sets the standard for revenue cycle excellence in the health care 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.
“UTMB’s Revenue Cycle team’s dedication to professionalism in securing revenue and helping patients maneuver through the payment and insurance process supports our commitment to excellence in providing Best Care for those who trust us with their health, which is, of course, where it all begins and ends,” said Dr. Jochen Reiser, UTMB president and CEO of the Health System. “I am proud of the work they do and am so happy to see them recognized at the national level with this award.”