Netsmart Rated the No. 1 Solutions Vendor for 8th Year, Black Book Home Health and Post-Acute Technology Users' Survey
Black Book Research estimates the North American market for post-acute software and IT services market in Q2 2022 has reached $3.0 Billion and is anticipated to grow at a CAGR of 17% during 2022-2032.
TAMPA, Fla., June 1, 2022 (Newswire.com) - Black Book Research announced that Netsmart has swept the post-acute ambulatory health technology platform ratings for highest customer satisfaction in the annual client experience polling the clients of 41 national technology competitors. Black Book's study of subacute, home health, hospice, skilled nursing, and adult living facilities providers validated Netsmart, headquartered in Overland Park, Kansas, has retained the top IT performance honors for the eighth year in a row.
One thousand nine hundred thirteen providers participated in the crowdsourced survey of post-acute solutions users from December 2021 to May 2022. The qualitative polling includes the user experience scores of operations, nursing and clinical staff, physicians, and support personnel. One-third of respondents include financial, administrative and information technology professionals. Netsmart outscored all competitors on 11 of 18 key performance indicators specific to post-acute care technologies.
"Innovative industry software solutions are in high demand because technological efficiencies are needed to bring a higher-level benefit to providers should overpayments diminish the value of ambulatory services as an alternative to high-cost inpatient services," said Doug Brown, president of Black Book Research.
"Consistently across the post-acute technology continuum, Netsmart has secured the top customer experience ratings in the industry since 2015," said Brown. "It's clear that, even in a tightening and increasingly complex market, Netsmart is continuing to lead the post-acute care industry by providing a product that is a vital part of their users' workflow, patient coordination, and critical digital capabilities to the successful providers in the value-based care environment."
Other significant survey findings include:
Eighty-nine percent of post-acute CFO respondents report that payors are more closely scrutinizing the efficacy and economics of the delivery post-acute care since the pandemic, necessitating the urgent acquisition of more highly functional solutions, both clinical and financial systems.
Significant developments in technology, such as advanced connected home and mobile applications, are increasing efficiency and automation capabilities of data collection from post-acute care patients to improve hospital and patient connectivity, thereby improving healthcare delivery and quality of care.
Ninety percent of respondents confirm that the continued lack of interoperability across the full patient continuum poses obstacles to post-acute care delivery on numerous levels, especially for care transitions, referral, patient engagement and provider communications. In 2023, the number of adults over sixty-five will exceed the number of children in America for the first time, and by 2060, older adults will account for one-quarter of the U.S. population, underscoring the technology challenges and gaps for the entire long-term care, post-acute care landscape.
Black Book also examined post-acute provider EHR adoption and usage in the U.S. and found that less than 22 percent of respondents consider their organization equipped to electronically engage in care coordination, patient record exchange, or population health initiatives with referral hospitals and physicians currently, marginally up from 20 percent in 2019.
Seventy-three percent of administrative respondents affirm acquiring new or replacement post-acute technology solutions in the next twelve months will improve employee retention and clinical satisfaction via streamlined electronic documentation and workflows, a goal of nine of ten post-acute providers.
Twenty-two percent of for-profit home health agencies foresee an upgrade or replacement of their current EHR and RCM systems by Q3 2023. Hospital-based home health services expect the lowest adoption and expenditures in home health technology improvements through 2023 at eight percent.
The series of results reports is based on findings from an independent survey conducted by Black Book qualified users of post-acute EHR systems, including Skilled Nursing Facilities, Hospital-Based Subacute Units, Short- and Long-Term Rehabilitation Centers, Home Health Agencies and Hospice organizations reporting.
About Black Book
Black Book Market Research LLC, its founder, management, and staff do not own or hold any financial interest in any of the vendors or public relations firms covered and encompassed in the surveys it conducts. Additionally, Black Book does not contract for, barter, exchange or accept direct services from any public relations firm mentioned in the rankings. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor/firm notification of rating results and does not solicit vendor/agency participation fees, review fees, inclusion or briefing charges, consultation requirements and/or vendor collaboration as Black Book polls' clients. Since 2010, Black Book Market Research LLC has polled the vendor and service firm satisfaction in the software/technology and managed services sectors around the globe.
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Source: Black Book Research