Chicago – May 28, 2015 – The Healthcare Financial Management Association (HFMA) recently reviewed Connance's Patient-Pay Optimization solution using the Peer Review process. After undergoing the rigorous review, Connance's Patient-Pay Optimization product has been awarded the “Peer Reviewed by HFMA®” designation.

Connance's Patient-Pay Optimization product optimizes hospitals' patient-pay processes—from bill drop through bad debt—using a proprietary cloud-based technology platform and predictive analytic suite to address cash collection, financial assistance, vendor management, and end-to-end reporting. Connance includes ongoing performance management with each solution implementation to capture early gains and continuously improve over time. 

Connance Patient-Pay Optimization includes:
• Patient-pay collections: advanced propensity-to-pay segmented workflows prioritized by the expected account value and payment pattern to address the unique needs of each patient
• Financial assistance eligibility: socio-demographic analytics to automate review of patients for potential financial assistance at point-of-service and presumptively, reducing documentation work and inappropriate bad debt assignment as well as enhancing performance to community benefit commitments
• Vendor management: a platform to manage outsourced activity improving collaboration, reducing process breakdowns and black hole events, increasing network flexibility, and account-level, apples-to-apple activity and performance benchmarking

"Connance's Patient-Pay Optimization solution reduces operating costs, increases cash recovery and improves reporting and regulatory compliance by prioritizing accounts with predictive analytics, optimizing the workflow of accounts, and delivering continuous monitoring to maximize performance," said Steve Levin, CEO of Connance. "We are honored that our customers, prospects, and HFMA’s Peer Review program recognize the value our solution delivers."

HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel review comprised of current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the healthcare business solution and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.

“We’re pleased to have Connance achieve their HFMA Peer Reviewed designation,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed healthcare business solution meets an objective third-party assessment of overall effectiveness, quality, and value."

About HFMA   
With more than 40,000 members, the Healthcare Financial Management Association (HFMA) is the nation's premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care.

About Connance, Inc.
Connance is health care’s premier source of predictive analytic technology solutions that enable hospitals, clinicians and outsourcing organizations to optimize financial and clinical workflows for sustained performance improvement. Leveraging your data, our data and consumer data, Connance delivers revenue cycle and population health solutions that prioritize activity and tailor your workflows to improve net income, reduce costs, and enhance the patient experience. Connance is redefining workflow optimization in health care.

Press inquiries should be directed to:  
Karen Thomas    
Healthcare Financial Management Association  
(708) 492-3377
kthomas@hfma.org

David Griffin    
Connance
(781) 577-5027
dgriffin@connance.com