A Black Book Market Research survey of more than 2,250 executives at 445 hospitals ranks Conifer as the top performer for revenue cycle management outsourcing in standalone and academic hospitals over 150 beds, and Optum on top for delivery systems and accountable care organizations.
The survey, conducted from July to November, shows many facilities in the past two years have outsourced some or all of their revenue cycle management functions.
Many hospital leaders have realized that revenue cycle management is not a competency for their organization and outsourcing it enables more focus on clinical care, says Doug Brown, a managing partner at Black Book.
Eighty-three percent of surveyed hospitals over 200 beds who outsourced are seeing average revenue increases of more than five percent in 2014, and 78 percent of hospitals new to outsourcing are averaging more than 6 percent increases this year, results show.
For hospital financial leaders, pulling the trigger to outsource brings some big worries. A full 90 percent of newly implemented RCM outsourcing clients told Black Book that they did not have the capital or board/corporate approvals when they decided to outsource. And, most worried about outsource vendors ability to deliver meaningful analytics or operate in a value-based reimbursement environment.
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