The Medical Faculty Associates announced an agreement with a revenue management company to improve patients’ experiences at the MFA, according to a release Wednesday.
The MFA plans to transition employees in registration, coding, billing, financial counseling and collections to nThrive, an independent revenue management company, according to PR Newswire. More than 200 employees in these positions will join nThrive starting July 6 in their same roles and remain in their current locations at the MFA, including their work-from-home environments due to the COVID-19 pandemic, according to the release.
“We are confident that our revenue cycle employees will find advancement opportunities, innovative technologies and a strong learning environment at nThrive,” School of Medicine and Health Sciences Dean and MFA CEO Barbara Lee Bass said in the release. “The nThrive values perfectly align with ours at MFA.”
The agreement with nThrive is meant to help the MFA achieve its financial goals for the year and improve patients’ experiences through better access, quality and coordination of care, according to the release.
nThrive extracts and analyzes data from their partners’ current health care systems to identify solutions regarding physician operations, patient care and financial revenue cycles to improve a company’s financial performance, according to its website.
The MFA will join nThrive’s network, which also includes all 20 health care systems that U.S. News and World Report named in its 2019 Best Hospital’s Honor Roll, nThrive’s website states. nThrive’s Patient to Payment program, which will be integrated into the MFA, is aimed at presenting more accurate pricing projections to patients before they undergo a procedure and are billed the actual amount, the release states.
“We are ready to welcome our new nThrive colleagues and working closely with MFA to improve their revenue cycle outcomes,” nThrive CEO Joel Hackney said in the release. “We have found a true partner in MFA, and we are looking forward to working together to create the most patient-focused, physician enabling and highest performing revenue cycle in health care.”