Financial solutions by CommerceHealthcare® for both patients and medical providers recently received Healthcare Financial Management Association’s (HFMA) coveted Peer Review designation.
Kansas City, MO – CommerceHealthcare® recently received Peer Review designation from the Healthcare Financial Management Association (HFMA) for two solutions that help patients with medical financing and assist providers with capturing costs for their services.
Part of HFMA’s 11-step evaluation process included surveying CommerceHealthcare’s current and prospective customers, and a thorough review by an HFMA Peer Review panel, on a variety of topics that measure quality and effectiveness. CommerceHealthcare’s AP Card for providers and Health Services Financing (HSF®) for patients both received HFMA Peer Review designation.
“Healthcare is in the midst of a financial transformation,” said Sue Martin, FACHE, senior vice president at CommerceHealthcare®. “At CommerceHealthcare®, we believe banking has a larger role to play in delivering a better financial experience for providers, payers and patients. We are proud of HFMA’s rigorous review process which resulted in our HFMA Peer Review designation. It reinforces our continued commitment to support healthcare providers and patients alike.”
"We are pleased to have CommerceHealthcare® achieve the HFMA Peer Reviewed designation," said HFMA Senior Vice President of Professional Practice, Richard L. Gundling, FHFMA, CMA. "The review process is built around an objective, third-party assessment of overall effectiveness, quality and value."
As patients take on more responsibility for the cost of healthcare, CommerceHealthcare’s Health Services Financing (HSF®) delivers a more affordable solution, offering patients a payment option over a long term, with a low- or no-interest loan program.
CommerceHealthcare’s AP Card is an automated, electronic supplier payment management program that can generate additional profit for healthcare providers. The card enables health systems, hospitals and physician practices to leverage automated, electronic payments and earn revenue through a virtual credit card.
For more information about CommerceHealthcare®, visit commercehealthcare.com opens in a new window.
About HFMA
The Healthcare Financial Management Association (HFMA) equips its more than 126,000 members nationwide 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.
About Commerce Bank
With $31.5 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. Beyond the Midwest, Commerce also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids and wealth offices in Dallas, Houston and Naples. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial and wealth offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.
1As of September 30, 2024
About CommerceHealthcare®
CommerceHealthcare® develops long-term banking relationships with healthcare providers through automated payment solutions, patient financing, lending, investing and asset management. To deliver the best patient care, health systems, hospitals and physician practices need financial results, not promises. Tailored, ROI-based solutions enable providers to find cost savings, improve cash flow and leverage new opportunities in everyday processes. From remittance processing to patient loan programs, cash flow to money management strategies, CommerceHealthcare® helps providers improve processes, increase margin and reduce financial risk. CommerceHealthcare® solutions are provided by Commerce Bank.
