Black Book™ is well known for accurate, impartial customer satisfaction surveys in the services and software industries. They conducted their annual revenue cycle management outsourcing and software/technology user polls, and here are some highlights:
- Black Book found that RCM transition activities in Q3 2016 are being coordinated through advisors and consultants at 29% of the nations’ hospitals
- The majority of those providers (71%) have not selected end-to-end technology vendors to move towards value-based reimbursements, contributing to the upsurge in outsourcing and bolt-on technologies as provisional solutions
- 70% of medical group practices working with consultants on accountable care reimbursement strategies are considering outsourcing RCM in 2017 as they also evaluate technology vendors and estimate the financial brunt.
- 93% of health organization CFOs report they need to eliminate RCM, financial and coding technology vendors that are not producing a return on investment by end of year, up from 79% in Q4 2015.
- 94% of CFOs believe transformed revenue cycle management processes will allow them to become more efficient and positively impact their organization’s financial health — although 48% worry their organizational budgets will not allow them to acquire the end-to-end RCM system they most require in 2017.
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