HBMA Congratulates SyMed Corporation on Compliance Re-Accreditation
HBMA CONGRATULATES SYMED CORPORATION ON COMPLIANCE RE-ACCREDITATION
SyMed Corporation recognized for program to protect patient privacy, prevent medical billing fraud, and comply with federal regulations
(Washington) – Today the Healthcare Business Management Association (HBMA) announced that SyMed Corporation has earned re-accreditation under the HBMA Compliance Accreditation Program for revenue cycle management (RCM) companies (a.k.a., medical billing and medical practice management companies) and offered its congratulations. The HBMA Compliance Accreditation Program is designed to assess compliance with a range of federal healthcare industry regulations, including provisions to protect patient privacy under HIPAA, promote cybersecurity, and prevent fraud, waste, and abuse in medical billing.
SyMed Corporation is a comprehensive revenue cycle management group and billing software vender located in Napa, CA that currently serves healthcare organizations in 9 states.
“HBMA recognizes that in medical billing and revenue cycle management the security threats and federal regulations are continually expanding and evolving. There are severe consequences for not staying current in this environment. When a company earns HBMA Compliance Accreditation by independent evaluation, it is only valid for one year. To renew their accreditation, SyMed Corporation was required to pass another independent evaluation to verify that it still surpasses federal regulations and employs best practices to protect confidential patient medical information, safeguard their data systems, and prevent fraud,” said Cindy Pittmon, RCC, CHBME, FRBMA, president of HBMA.
Healthcare providers trust and rely on RCM companies to ensure the privacy and security of their protected health information (PHI) and to operate with billing policies and practices that meet regulatory requirements. The HBMA Compliance Accreditation Program independently assesses the participating company’s program to fulfill those obligations. Because change in healthcare and its regulatory environment are constant, accreditation must be earned annually to meet new guidelines and requirements.
The HBMA Compliance Accreditation Program assesses compliance with HIPAA and with Health and Human Service Office of Inspector General compliance standards on fraud, waste and abuse; the Stark Law, which is designed to prevent conflicts of interest by medical providers in their prescribed patient care; federal Anti-kickback law; and the OIG work plan. The assessment under the HBMA Compliance Accreditation Program includes an annual comprehensive evaluation of the policies and practices of RCM companies with respect to employee training; security risks, including the security of confidential patient health information; documentation storage and handling; practices to promote compliance with federal regulations; disaster and emergency preparedness plans; and human resources practices, including background check procedures and onboarding.
About SyMed Corporation
SyMed Corporation has over 25 years of experience in RCM. They can assist healthcare organizations through maximizing productivity, enhancing patient engagement, reducing operational cost, and eliminating administrative burdens.
About the Healthcare Business Management Association (HBMA)
HBMA is a non-profit, member-led trade association of companies that support doctors and other medical providers by handling their medical billing and revenue collection processes, services known as revenue cycle management (RCM). HBMA works with legislative stakeholders and federal agencies in Washington, D.C. to improve the business of medical billing and the practice of healthcare. Since its inception in 1993, HBMA and its members have encouraged professional development and adherence to the HBMA Code of Ethics, advocated on behalf of the RCM profession, and promoted business development through educational events, networking opportunities, certification programs, and a wide range of affiliated vendor resources. For more information about HBMA, visit the www.hbma.org.