Skip to content Skip to navigation

Survey: Volatility in Small Practice EHR/RCM Market

June 8, 2015
by Gabriel Perna
| Reprints
There is a lot of opportunity and volatility in the small practice electronic health record (EHR) and revenue cycle management (RCM) vendor market, according to a new study from the New York-based Black Book research. 
Black Book researchers conducted a survey of end users, including healthcare records professionals, physician practice administrators, and ambulatory group leaders. They found that 84 percent of all physician practices agree their billing and collections systems/processes need upgrading. Moreover, 86 percent of small practices aim to integrate physician practice management, billing services and EHR into a single vendor solution if possible by 2017. All but eight percent of those seeking an RCM upgrade or system change out are only considering an EHR centric module.
"Revenue cycle management and integrated EHR vendor loyalty among small practice EHR physician practices is still on a significant upward trajectory,” Doug Brown, Black Book's Managing Partner, said in a statement. "The EHR/practice billing vendor's abilities to meet the evolving demands of interoperability, networking, mobile devices, accountable care, patient accessibility, customization for specialty workflow, and reimbursement are the main factors that the replacement mentality and late adoption remain volatile especially among solo and small practices."
Brown adds that 70 percent of smaller and solo practice physicians have not settled on a technology product that delivers to their expectations on meaningful use, clinician usability, and coordinated billing and claims. Thus, he says, there is a "relentlessly moving EHR marketplace.” Seventy-eight percent of small practices say they under-utilize their billing/practice management software. 
The one vendor that seems to have it figured it out, the top-ranked vendor integrating EHRs and billing software for small practices,  is Kareo (San Francisco). Other top performing vendors integrating clinical and billing data: ADP AdvancedMD, athenahealth, Greenway, HealthFusion, McKesson and NexTech.


Healthcare Industry Organizations Collaborating to Improve Integration between CPT codes and SNOMED CT

The American Medical Association and the International Health Terminology Standards Development Organisation are working together, through a collaborative agreement, to create better integration between their proprietary code sets in support of interoperability and healthcare data analytics.

Vocera to Acquire Extension Healthcare for $55M

Vocera Communications, the San Jose, Calif.-based healthcare communications company, has announced that it has acquired Extension Healthcare for approximately $55 million in an all-cash transaction.

Reports: Issues Arise in 21st Century Cures Act; Delay Possible

The 21st Century Cures Act could be in danger of not passing this year following a statement from a coalition of liberal groups calling into question the bill’s ability to address high drug prices.

ONC National Coordinator Gets Live Look at Carequality Data Exchange

Officials from Carequality have stated that there are now more than 150,000 clinicians across 11,000 clinics and 500 hospitals live on its network. These participants are also able to share health data records with one another, regardless of technology vendor.

American Red Cross, Teladoc to Provide Telehealth Services to Disaster Victims

The American Red Cross announced a partnership with Teladoc to deliver remote medical care to communities in the United States that are significantly affected by disasters.

Report: The Business of Cybercrime in Healthcare is Growing

While stolen financial data still has a higher market value than stolen medical records, as financial data can be monetized faster, there are indications that there is ongoing development of a market for stolen medical data, according to an Intel Security McAfee Labs report.