Healthcare News & Insights

Survey: Many hospitals dissatisfied with their revenue cycle management systems

When it comes to technology, many healthcare organizations are focusing on installing or maintaining an electronic health record system. But there are several other health IT systems organizations may rely on – and many are unsatisfied with the technology they’re currently using. 

A lot of hospitals are dissatisfied with their current revenue cycle management (RCM) systems, as well as their laboratory information systems (LIS), according to two recent surveys conducted by research firm CapSite.

Thanks to both advances in technology and problems hospitals have faced with the systems they’re using, most organizations will either upgrade or completely replace their current RCM system, according to one of the surveys. Half of the 390 hospitals in the study will invest in upgrades to their current core RCM system within the next two years, while another 21% will be searching for a replacement system.

As many hospitals have hit hard times financially, they are looking for software that can help them capture more revenue and avoid letting funds slip through the cracks. When hospitals are looking for upgrades and replacement systems, the features they’re most interested in are insurance eligibility verification and coding solutions.

Hospitals have similar feelings about their current LIS, according to CapSite’s other survey. Among the 290 hospitals polled, 19% plan to replace their current LIS.

The top reasons hospitals are looking for a change: They want a more efficient system, as well as one that will integrate with their current EHR system, CapSite says.

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