C-suite Views RCM As Matter Of Survival

New Black Book report shows healthcare execs see RCM as a way to stay solvent

The $2.4 billion hospital RCM software and services industry expects double digit increases in 2014 because of business shifts, reimbursement and payment reforms, accountable care participation, ICD-10 coding challenges, physician practice acquisitions, collection issues, and overall declining margins, according to  two reports released Sept. 23 by market research firm Black Book.

The two RCM reports Top Hospital Software Vendors, Revenue Cycle Management: Small/Rural and Community Hospitals under 250 Beds, and Top Hospital Software Vendors, Revenue Cycle Management: Hospitals over 250 Beds, Chains and Networks provide analysis on the replacement RCM market as healthcare systems to upgrade patient billing and collection processes.

More than 1,900 hospital CFOs, CIOs, business office managers, tech and financial staffers contributed their perceptions to Black Book between April 2013 and August 2013. Additionally the business managers of 1,800 physician practices owned by hospital systems also submitted responses, evaluated separately. There were 557 hospital and inpatient organizations represented in the survey.