Providence recognized for its financial interactions with patients
RENTON, Wash., September 25, 2023 – Providence achieved recognition as an Adopter of the Healthcare Financial Management Association’s PATIENT FINANCIAL COMMUNICATIONS BEST PRACTICES®. As a Best Practices Adopter, Providence demonstrated that it follows nearly 100 best practices covering all aspects of financial interactions that take place in a variety of care settings.
“In a time when billing and reimbursement for health care has become more complex, the financial conversations across the journey we have with patients have never been more important,” said Providence CFO Greg Hoffman. “We have taken steps to ensure that patients are treated with compassion and respect in financial matters, so they can focus on what really matters — their health and well-being.”
“Talking about money and one’s health are two of the most uncomfortable conversations for most of us," said HFMA Senior Vice President Richard Gundling, FHFMA, CMA, in learning of the award.” Providence has demonstrated its commitment to ensuring that patients have a good experience when it comes to the financial aspects of their care during particularly stressful periods in their lives.”
Providence joins a select group of hospitals, health systems, and physician practices that have received this first-of-its-kind, national recognition. A blue-ribbon task force developed these best practices to help improve communication between healthcare providers and consumers about financial matters. The task force included representatives from major industry groups, including the American Hospital Association, America’s Health Insurance Plans, the American Academy of Family Physicians, and the National Patient Advocate Foundation, among others. The best practices are part of HFMA’s HEALTHCARE DOLLARS & SENSE® initiative. More information is available at hfma.org/dollars.
Providence is a national, not-for-profit Catholic health system comprising a diverse family of organizations and driven by a belief that health is a human right. With 51 hospitals, more than 1000 physician clinics, senior services, supportive housing, and much other health and educational services, the health system and its partners employ more than 117,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas, and Washington, with system offices in Renton, Wash., and Irvine, Calif. Learn about our vision of health for a better world at Providence.org.
The Healthcare Financial Management Association (HFMA) equips its more than 100,000 members to navigate a complex healthcare landscape. Finance professionals in the full range of work settings, including hospitals, health systems, physician practices and health plans, trust HFMA to provide the guidance and tools to help them lead their organizations, and the industry, forward. HFMA is a not-for-profit, nonpartisan organization that advances healthcare by collaborating with other key stakeholders to address industry challenges and providing guidance, education, practical tools and solutions, and thought leadership. We lead the financial management of healthcare.