Black Book Announces Seventh Annual Revenue Cycle Management Solutions Top Honors
Health system viability is now vulnerably reliant on the success of a single organizational venture: revenue cycle management transformation. With margins sinking to less than three percent nationwide, providers seek opportunities for capturing all revenue through updated software solutions and outsourcing.
TAMPA, Fla., September 14, 2017 (Newswire.com) - The highest ranked vendors in customer satisfaction and client experience are announced by Black Book™ in ten categories of RCM Software Tools and RCM Outsourcing Services. In total, 567 hospitals and inpatient organizations and 4,403 physician practices were represented in the sweeping Q1-Q2 2017 survey.
Black Book™ surveyed 6,033 hospital and health system Chief Financial Officers, Vice Presidents of Finance and RCM, Controllers, Business Office Managers, Staff and Directors to determine the top performing vendors among in-demand financial software, systems and outsourcing services, and assess the gaps and urgencies of RCM financial administration.
Additionally, 4,569 physician office business office managers and 1,107 outpatient, alternative care, clinics, IDN physician practices and ancillary facilities also submitted ballots and evaluated separately.
Today, Black Book Research announced the highest satisfaction ranked solutions vendors for the Revenue Cycle Software and Revenue Cycle Outsourcing user satisfaction and client loyalty ratings for 2017. Black Book conducts polls and surveys with healthcare executives and front line users about their current technology and services partners and awards top-performing vendors based on performance based on 18 indicators of client experience, loyalty and customer satisfaction.
Survey results also indicated that 74% of struggling hospitals are putting population health, analytics, physician practice acquisitions and recruitment, and patient engagement on the back burner to reprioritize RCM through Q4 2017.
In contrast, 94% of financial leaders in hospitals performing at margins supporting long term viability (over 3%) report successful revenue cycle management transformations initiated currently, with 2018 capital expenditures planned for upgraded tools such as RCM dashboards, analytics and upgraded business intelligence solutions.
Black Book's 2017 financial solutions survey results can be viewed at http://www.blackbookmarketresearch.com/pages.php?alias=finance-revenue-cycle-management
Ranking highest in RCM solutions services client experience for 2017 are:
END-TO-END RCM SOFTWARE & TECHNOLOGY, HOSPITAL CHAINS, SYSTEMS, CORPORATIONS, INTEGRATED DELIVERY NETWORKS & CORPORATION: Optum360
END-TO-END RCM SOFTWARE & TECHNOLOGY, HOSPITALS UNDER 100 BEDS: Navicure
END-TO-END RCM SOFTWARE & TECHNOLOGY, HOSPITALS 101-200 BEDS: Advisory Board
END-TO-END RCM SOFTWARE & TECHNOLOGY, HOSPITALS 200+ BEDS: ZirMed
END-TO-END RCM SOFTWARE & TECHNOLOGY PHYSICIAN PRACTICES & GROUPS: NaviCure
END-TO-END RCM OUTSOURCING, HOSPITAL CHAINS, SYSTEMS, CORPORATIONS, INTEGRATED DELIVERY NETWORKS & CORPORATION: Optum360
END-TO-END RCM OUTSOURCING, HOSPITALS UNDER 100 BEDS: Xtend Navient
END-TO-END RCM OUTSOURCING, HOSPITALS 101-200 BEDS: MediRevv
END-TO-END RCM OUTSOURCING, HOSPITALS 200+ BEDS: Citadel Resource Group
END-TO-END RCM OUTSOURCING, HOSPITAL AFFILIATED PHYSICIAN PRACTICES & GROUPS: Cerner RevWorks
About Black Book
Black Book™, its founders, management and staff do not own or hold any financial interest in any of the vendors covered and encompassed in the surveys it conducts. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor notification of rating results and does not solicit vendor participation fees, review fees, inclusion or briefing charges, consultation requirements, and/or vendor collaboration as Black Book polls vendors' clients.
Since 2000, Black Book™ has polled the vendor satisfaction across over thirty industries in the software/technology and managed services sectors around the globe. In 2009, Black Book began polling the client experience of now over 590,000 healthcare software and services users. Black Book expanded its survey prowess and reputation of independent, unbiased crowd-sourced surveying to IT and health records professionals, physician practice administrators, nurses, financial leaders, executives and hospital information technology managers. For methodology, auditing, resources, comprehensive research and Outsourced Revenue Cycle vendor ranking data, see http://www.blackbookmarketresearch.com.
Source: Black Book Research