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Laboratory and the art of enterprise integration.

Healthcare financial management : journal of the Healthcare Financial Management Association·2009
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What's next for revenue cycle technology?

Kent Gale1

  • 1KLAS, Orem, Utah, USA. kent@klasresearch.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|July 31, 2010
PubMed
Summary

Hospitals are choosing single-vendor revenue cycle management (RCM) solutions for integration. However, current RCM products often lack full functionality, requiring additional third-party applications.

Area of Science:

  • Healthcare Administration
  • Health Information Systems
  • Revenue Cycle Management

Background:

  • Hospitals face a critical decision when selecting new revenue cycle management (RCM) solutions.
  • Key choices include best-of-breed systems versus enterprisewide, single-vendor solutions.
  • The trend indicates a preference for sole-source RCM solutions due to integration promises.

Purpose of the Study:

  • To analyze current trends in hospital RCM solution adoption.
  • To evaluate the perceived functionality and integration capabilities of RCM products.
  • To identify persistent gaps in RCM software functionality.

Main Methods:

  • A study was conducted on organizations selecting new RCM solutions.
  • Data was collected on vendor choices and perceived product performance.

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  • Analysis focused on the adoption of single-vendor versus best-of-breed approaches.
  • Main Results:

    • Most organizations are adopting single-vendor RCM solutions.
    • Purchasers report that RCM products are generally meeting expectations.
    • A significant portion of users feel RCM products lack adequate functionality.
    • Third-party bolt-on applications remain necessary for certain revenue cycle processes.

    Conclusions:

    • The adoption of single-vendor RCM solutions is driven by the appeal of enterprisewide integration.
    • While meeting some expectations, current RCM solutions often require augmentation with specialized third-party tools.
    • Further development is needed to achieve comprehensive RCM functionality within single platforms.