Docs Flock To Cloud To Save Bottom Line

Cloud-based EHRs with integrated billing solutions favored to save independent practices from take-over

Eighty-seven percent of all physician practices agree their billing and collections systems need upgrading, according to a new survey. The majority favor moving to a fully integrated practice management, EHR and medical software product, accessible through the cloud on any browser or device.

The first of eight revenue cycle management studies to be released by Black Book, the "Top Physician Practice Management & Revenue Cycle Management: Ambulatory EHR Vendors," is 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 Rankings, 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.