Optum360, Change Healthcare, Waystar among highest ranked vendors for Black Book's revenue cycle survey
Black Book surveyed nearly 4,500 hospital and health system CFOs, Finance and RCM vice-presidents, others to come up the top performers.
Optum360, Trubridge, Waystar and Change healthcare were among those snagging top honors from Black Book as the highest ranked vendors in customer satisfaction and client experience for RCM Software Tools and RCM Outsourcing Services.
The research company's 8th annual Revenue Cycle Management Technology and Outsourcing Solutions Client-rated honors included 20 specific categories of RCM software tools and outsourcing services. In all, 522 hospitals and inpatient organizations and 3,980 physician practices were represented in the Q1-Q3 2018 series of polls.
WHY IT MATTERS
With payment models shifting and margins shrinking, health systems must leverage whatever tools they can, especially technology, to capture every bit of revenue they can. Software solutions and outsourcing models are to viable methods of doing just that. Knowing what tools are well-reviewed by its own client base is useful in evaluating what tool your own system might choose.
WHAT ELSE YOU NEED TO KNOW
Black Book surveyed nearly 4,500 hospital and health system CFOs, Finance and RCM vice-presidents, controllers, business office managers and other stakeholders to reveal top-performing vendors as well as gaps in RCM financial administration.
Also, more than 3,000 physician office business office managers and 900 outpatient, alternative care, clinics, IDN physician practices and ancillary facilities submitted ballots and were evaluated separately.
ON THE RECORD
"The latest wave of challenges accompanying the shift to value-based care finds most providers navigating through empowering virtual health, initiating highly patient positive experiences and sinking margins," said Black Book's Managing Partner Doug Brown. "Revenue cycle management is now the most pressing strategic focus in health systems nationwide with system transformation vendors, solutions optimization consultants and RCM outsourcing firms in huge demand."
Twitter: @BethJSanborn
Email the writer: beth.sanborn@himssmedia.com
