TAMPA, Fla. black book market research findings., June 3, 2020 /PRNewswire/ -- In the recent months of the pandemic crisis, 84% of surveyed hospitals and 79% of large physician practices have confirmed they performed audits on the existing state of their digital transformation (black book market research). Ninety-three percent of all provider respondents state that missing capabilities and redundant or conflicting systems were identified in Q2 2020 to drive immediate financial systems rationalization and acquisitions.
With health system margins waning below three percent nationwide, providers urgently seek opportunities for digital transformations to capture all revenue through updated software solutions and anticipate industry shifts through innovative analytics and forecasting tools. Black Book™ surveyed nearly 1,800 hospital and health provider chief financial officers, vice presidents of finance and RCM, controllers, business office managers, analyst staff, consultants and directors to determine the top-performing vendors among in-demand financial software systems additionally."It would seem most CFOs understand what the pandemic has proved is the need to speed up digital transformation initiatives to not only survive but to prosper in the new normal," said Doug Brown, President of Black Book Research.
The latest wave of pandemic impacts on providers are also accompanying the decline of procedure utilization and the imminent shift to value-based care. The latest Black Book survey found that most providers are navigating these challenges through empowering virtual health (87%), initiating highly patient positive experiences (73%) and confronting radically sinking margins with layoffs and process changes (54%) - black book market research techniques."The lack of advanced financial analytic tools, strategic dysfunction caused by failed software integrations and outdated dashboard and decision support systems has put focus on the immediate technology needs of chief financial officers," said Brown (black book market research).
The highest ranked vendors in customer satisfaction and client experience are also announced by Black Book Research in 23 categories of financial digital transformation. black book market research findings. In total, 504 hospitals and inpatient organizations and 1,148 physician practices were represented in the sweeping Q4 2019 - Q2 2020 series of polls. black book market research in 2020. Ranking highest in financial administrator and planning solutions by outstanding client experience for 2020 are:END-TO-END REVENUE INTEGRITY SOLUTIONS: REVINTPATIENT PAYMENT TECHNOLOGY & SOFTWARE SOLUTIONS: WAYSTARPATIENT REVENUE ANALYTICS SOLUTIONS: REVSPRINGPROVIDER CONTRACT MANAGEMENT & OPTIMIZATION SOLUTIONS: AXIOM BY KAUFMAN HALLREVENUE RECOVERY AND ACCOUNTS RECEIVABLE SOLUTIONS: OPTUM360ENTERPRISE PATIENT MASTER INDEX & CLEAN UP: VERATOCHARGEMASTER SOLUTIONS: OPTUM360COMPLEX CLAIMS SOLUTIONS: ARGOS HEALTHBUSINESS DECISION SUPPORT & COST ACCOUNTING SOLUTIONS: AXIOM BY KAUFMAN HALLENTERPRISE DOCUMENT MANAGEMENT & IMAGING: HYLAND ONBASEENTERPRISE RESOURCE PLANNING: ORACLEPATIENT ACCESS SOLUTIONS: ACCUREG SOFTWAREINPATIENT ACCOUNTING SYSTEMS (LARGE HOSPITAL): EPIC RESOLUTEINPATIENT ACCOUNTING SYSTEMS (SMALL HOSPITAL): MEDITECH EXPANSEINPATIENT CLAIMS & DENIAL MANAGEMENT SYSTEMS: REVSPRINGAMBULATORY CLAIMS MANAGEMENT & PHYSICIAN CLEARINGHOUSE SOLUTIONS: POKITDOKPATIENT FINANCING SOLUTIONS: CLEARBALANCEBENCHMARKING & COMPARATIVE ANALYTICS: AXIOM BY KAUFMAN HALLSTAFF SCHEDULING SOLUTIONS: API HEALTHCARE, SYMPLRPHYSICIAN SCHEDULING SOLUTIONS: QGENDAPATIENT FLOW SOLUTIONS: EPIC GRAND CENTRALREAL-TIME LOCATION TRACKING SYSTEMS: STANLEY HEALTHCAREENTERPRISE FINANCIAL PLANNING & RCM CONSULTANTS: KAUFMAN HALLBlack Book rankings are based on client experience scores obtained from crowdsourced ballots cast and available through mobile apps, web surveys, remote polling instruments, interview calls and on-site trade shows and user groups throughout the year (black book research).
Black Book™, its founder, management and staff do not own or hold any financial interest in any of the vendors covered and encompassed in the vendor satisfaction surveys it conducts. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor notification of rating results and does not solicit vendor participation fees, review fees, inclusion or briefing charges, subscription or consultation requirements, and/or vendor collaboration as Black Book polls vendors' clients (black book market research findings).
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