Clearwater, FL (PRWEB) September 03, 2013
In a series of eight research reports on the 2013 State of the Revenue Cycle Management industry, Black Book™ releases comprehensive findings of IT and services users on the trends and directions of hospitals and physician practices. The top ranked vendors in customer satisfaction and client experience among RCM software and outsourcing services providers, as well as RCM transformation consultants are announced.
The first of the eight RCM studies released is the "Top Physician Practice Management & Revenue Cycle Management: Ambulatory EHR Vendors", an analysis of the convergence of the replacement EHR market with the needs of physician practices to upgrade patient billing processes. According to Black Book, the RCM software and services industry recently surpassed the $12 billion in the ambulatory physician practice segment due to demands encountered from reimbursement and payment reforms, accountable care participation, ICD-10 coding challenges, and declining revenues.
In this segmented survey of healthcare financial leaders, over 8,000 respective CFOs, CIOs, administrators and support staff of US hospitals and physician practices contributed their perceptions to Black Book™ between April 2013 and August 2013..
KEY FINDINGS: IMPROVING PRACTICE PERFORMANCE WITH SEAMLESS RCM/EHR
87% of all Physician practices agree their billing and collections systems/processes need upgrading.
42% are considering an upgrade of their RCM software within 6 -12 months.
92% of those seeking an RCM PM upgrade or system change out are only considering an EHR centric applications.
71% of physician practices are considering a combination of new software and outsourcing services to improve their RCM systems.
89% of those state a preference for a single source vendor for all RCM PM and EHR modules.
89% of physicians currently
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