RCM Vendor Market Shows Mixed Function Adoption | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

RCM Vendor Market Shows Mixed Function Adoption

October 2, 2013
by Gabriel Perna
| Reprints

HIMSS Analytics, the Chicago-based analytics arm of the Healthcare Information and Management Systems Society, has released a report on the revenue cycle management (RCM) software industry that indicates a mixed market, with high adoption for some capabilities and little headway made in the adoption of other solutions.

According to the report, there is a high level of adoption for vendor solutions in the areas of eligibility and scheduling, with work to be done around charity screening and propensity to pay. Seventy-seven percent of those surveyed had leveraged a vendor solution around eligibility, while 66 percent had done the same for scheduling. For charity screening, only 25 percent had used a vendor solution, 51 percent were still using a manual process.

Furthermore, the respondents, which included various-sized 537 hospitals, indicated their intent on replacing or purchasing net new solutions for RCM functions such as bill estimation, address validation, pre-authorization, and bill estimation, among others.

“We wanted to provide granularity around functions used in the Inpatient RCM arena, including how hospitals are approaching those functions and how large of a role they play in conducting transactions on an annual basis,” HIMSS Analytics research director, Brendan FitzGerald, said in a statement. “As the industry continues to change, a move toward vendor solutions by hospitals could help ease the burden of keeping up with financial regulations and help organizations move toward more seamless revenue cycle transactions.”

A recent series of reports released by market research firm Black Book revealed that even though the RCM software and services industry expects double digit increases in 2014, many U.S. hospitals have admitted they don’t have a sustainable RCM plan in place. Roughly two-thirds of U.S. hospitals that predicted in 2012 that they would replace their core RCM solution in 24 months have actually failed to initiate a sustainable RCM plan as of Q3 2013.

Get the latest information on Finance and Revenues and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.

Learn More

Topics

News

Community Data Sharing: Eight Recommendations From San Diego

A learning guide focuses on San Diego’s experience in building a community health information exchange and the realities of embarking on a broad community collaboration to achieve better data sharing.

HealthlinkNY’s Galanis to Step Down as CEO

Christina Galanis, who has served as president and CEO of HealthlinkNY for the past 13 years, will leave her position at the end of the year.

Email-Related Cyber Attacks a Top Concern for Providers

U.S. healthcare providers overwhelmingly rank email as the top source of a potential data breach, according to new research from email and data security company Mimecast and conducted by HIMSS Analytics.

Former Health IT Head in San Diego County Charged with Defrauding Provider out of $800K

The ex-health IT director at North County Health Services, a San Diego County-based healthcare service provider, has been charged with spearheading fraudulent operations that cost the organization $800,000.

Allscripts Touts 1 Billion API Shares in 2017

Officials from Chicago-based health IT vendor Allscripts have attested that the company has reached a new milestone— one billion application programming interface (API) data exchange transactions in 2017.

Dignity Health, CHI Merging to Form New Catholic Health System

Catholic Health Initiatives (CHI), based in Englewood, Colorado, and San Francisco-based Dignity Health officially announced they are merging and have signed a definitive agreement to combine ministries and create a new, nonprofit Catholic health system.