CereCore Partners with FinThrive to Drive Modernization of Healthcare RCM with HFMA-aligned Maturity Framework
Jun 20, 2024
Plano, Texas
CereCore selected as first approved partner to deliver Revenue Cycle Management Technology Adoption Model (RCMTAM) consulting and advisory services to healthcare providers.
FinThrive today announced its newest partnership designed to help hospitals and health systems assess and evolve their RCM technology maturity. CereCore® becomes the first approved partner to deliver advisory services associated with FinThrive’s five-stage Revenue Cycle Management Technology Adoption Model (RCMTAM) aligned with the Healthcare Financial Management Association (HFMA).
HFMA aligned with FinThrive to jointly introduce the adoption model in late 2023, the first of its kind model that leverages benchmarking research and comprehensive resources to help financial leaders design a personalized RCM modernization roadmap with the goal of optimizing key revenue cycle outcomes.
“At FinThrive, we believe healthcare RCM is ready for modernization and deserves a focus on empowering and enabling providers to optimize their revenue and deliver exceptional patient experiences. Partnering with CereCore on RCMTAM advisory services will help us accelerate awareness and utilization of this vendor-agnostic, freely-available tool. In addition, CereCore’s exclusive focus in partnering with healthcare provider organizations to achieve greater operational efficiencies aligns well with our original purpose for creating RCMTAM – to help healthcare providers reach their full potential,” said Hemant Goel, President and CEO, FinThrive.
The new partnership will support CereCore in helping their clients transform their RCM technology stacks and initiate enterprise projects that favor vendor consolidation, automation, AI, and platform approaches.
First RCM Technology Adoption Model for Health Systems
The model is the industry’s first revenue cycle management technology adoption framework specifically designed for health systems. It seeks to address findings by HFMA and FinThrive that show many health systems (42%) are at Stage 1 of RCMTAM’s five-stage model, with nearly two thirds reporting their intent to evolve to an RCM platform in the next two years.
“Our focus at CereCore has always been to provide services to our healthcare clients that enable them with better IT operations so they can fulfill the mission of delivering the highest quality healthcare. Just as HIMSS maturity models provided strategic roadmaps for digital transformation, the RCMTAM model is the framework that will help provider organizations modernize their revenue cycle,” said Curtis Watkins, President and CEO, CereCore. “We are eager to start helping healthcare leaders chart a path toward achieving greater RCM maturity using a proven model that will lead to increased revenue and collections and ultimately improved patient care.”
Development of RCMTAM was prompted by FinThrive and HFMA observations that a growing number of health systems are looking to modernize and could benefit from a progressive strategy based on relevant industry benchmarks and best practices for the intended results.
For more about the Revenue Cycle Management Adoption Model or to start your RCMTAM assessment, visit here.
About FinThrive
FinThrive helps healthcare organizations increase revenue, reduce costs, expand cash collections, and ensure regulatory compliance across the entire revenue cycle continuum. Providing one of healthcare's most comprehensive revenue cycle management SaaS platforms, FinThrive’s holistic approach to revenue management offers patient access, charge integrity, claims management, contract management, machine learning & robotic process automation, data & analytics, and education solutions. Three out of five healthcare providers are using FinThrive today. For more information, visit finthrive.com.
About CereCore
CereCore®provides IT services that make it easier for hospitals and healthcare systems to focus on supporting hospital operations and transforming healthcare through technology. We partner with clients to extend their team through comprehensive IT staffing and application support, technical professional and managed services, IT advisory services, and EHR consulting, because we know firsthand the power that integrated technology has on patient care and communities.
Media Contact:
Audra Murphy
VP, Strategic Communications, FinThrive
(717) 476-4864
amurphy@finthrive.com