Optum360, Navicure, ZirMed and others have been named top revenue cycle management vendors in customer satisfaction and client experience, according to Black Book Market Resaerch for 2017. For the report, 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, Black Book surveyed 4,569 physician office business office managers and 1,107 outpatient, alternative care, clinics, IDN physician practices and ancillary facilities.
Report Findings
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. The report found 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.
Additionally, 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.
Here is a look at Black Book’s highest satisfaction ranked solutions vendors for the Revenue Cycle Software and Revenue Cycle Outsourcing user satisfaction and client loyalty ratings for 2017:
Optum360: End to End RCM Software & Technology (Hospital Chains, Systems, Corporations, IDNs & Corporation)
Navicure: End to End RCM Software & Technology (Hospitals Under 100 Beds)
Advisory Board: End to End RCM Software & Technology (Hospitals 101-200 Beds)
ZirMed: End to End to RCM Software & Technology (Hospital 200+ Beds)
Navicure: End to End RCM Software & Technology (Physician Practices & Groups)
Optum360: End to End RCM Outsourcing (Hospital Chains, Systems, Corporations, IDNs & Corporation)
Xtend Navient: End to End RCM Outsourcing (Hospital Under 100 Beds)
MediRevv: End to End RCM Outsourcing (Hospital 101-200 Beds)
Citadel Resource Group: End to End RCM Outsourcing (Hospital 200+ Beds)
Cerner RevWorks: End to End RCM Outsourcing (Hospital Affiliated Physician Practices & Groups)
For more information about this report, visit http://www.blackbookmarketresearch.com/pages.php?alias=finance-revenue-cycle-management
