Black Book Market Research surveyed more than 5,000 management and user-level RCM clients about the three main parts of end-to-end revenue cycle: patient-access management, health-information processing and the post-medical-episode process.
Here are some findings:
- Eighty-five percent of hospitals and physician practices want to replace their RCM systems, or are considering it.
- Consultants are coordinating 29 percent of RCM transition activities in U.S. hospitals 2016’s third quarter. Of these, 71 percent haven’t selected end-to-end technology vendors to move toward value-based reimbursements.
- Seventy percent of medical-group practices working with consultants on accountable care reimbursement strategies are considering outsourcing RCM in 2017.
- Ninety-three percent of health-organization CFOs report that they need to get rid of RCM, financial and coding technology vendors that are not producing a return on investment by the end of this year, compared to 79 percent in 2015’s fourth quarter.
- Ninety-four percent of CFOs believe that transformed RCM processes will let them become more efficient and improve their organizations’ financial health.
- However, 48 percent of CFOs worry that their budgets will not let them acquire the end-to-end RCM system that their organizations will most need in 2017.
- Providers spent more than $10.3 billion in the 12 months ending June 2016 on combined end-to-end and bold-on RCM technology, software and outsourced services solutions. Black Book estimates that that number will rise to $11.9 billion by end of 2018’s second quarter.
- 32 percent of all U.S. hospitals that forecast that they would replace their RCM solutions in 2016 have failed to initiate a sustainable end-to-end RCM plan.
To read the survey, please hit this link.