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Healthcare Execs Rank Best Financial Providers

A survey of 1,600 executives from healthcare facilities across the country has revealed the leading vendors in 20 different financial categories, based on customer satisfaction and client experience.

The results of the survey, conducted by Black Book Research, were released yesterday. More than 1,200 different facilities participated in the survey.

In the category of “Revenue Recovery Solutions,” 25 different companies were ranked.

  1. TRANSUNION
  2. SAGE INACCT
  3. OPTUM360
  4. CHANGE HEALTHCARE
  5. PARALLON
  6. STREAMLINE HEALTH
  7. NTHRIVE
  8. BESLER
  9. REVINT SOLUTIONS
  10. ORMED MIS
  11. INTERSECT HEALTHCARE
  12. ASCEND HEALTHCARE
  13. ECATALYST REVENUE RECOVERY
  14. SHERLOQ SOLUTIONS
  15. MEDINOUS
  16. PMMS
  17. THE PATRIOT GROUP
  18. QUADAX
  19. HYLAND SOFTWARE
  20. KEMBERTON
  21. MCRC GROUP
  22. HEALTHCARE RECOVERY GROUP
  23. REVERGENCE HEALTHCARE
  24. ALEGIS
  25. SOUTHWEST RECOVERY

A continued reduction in overall margins at hospitals and healthcare facilities has placed an increased emphasis on revenue cycle management and the effectiveness of third-party service providers. Health system margins are below 3% nationally, according to Black Book, creating an urgent need for digital financial transformations at healthcare facilities.

“The latest wave of challenges accompanying the shift to value-based care finds most providers navigating through empowering virtual health, initiating highly patient positive experiences and sinking margins,” said Black Book’s Managing Partner Doug Brown. “The lack of advanced analytic tools, strategic dysfunction caused by failed software integrations and outdated dashboard and decision support systems has put focus on the immediate technology needs of Chief Financial Officers.”

The top-ranking company in each of the categories were:

PROVIDER CONTRACT MANAGEMENT & OPTIMIZATION SOLUTIONS
AXIOM BY KAUFMAN HALL

REVENUE RECOVERY AND ACCOUNTS RECEIVABLE SOLUTIONS
TRANSUNION

ENTERPRISE FINANCIAL PLANNING & RCM CONSULTANTS
KAUFMAN HALL

COMPLEX CLAIMS SOLUTIONS
ARGOS HEALTH

ENTERPRISE BUSINESS DECISION SUPPORT & COST ACCOUNTING SOLUTIONS
AXIOM BY KAUFMAN HALL

ENTERPRISE PATIENT MASTER INDEX & CLEAN UP
VERATO

PATIENT PAYMENT TECHNOLOGY & SOFTWARE
WAYSTAR

PATIENT REVENUE ANALYTICS SOLUTIONS
REVSPRING

INPATIENT CLAIMS MANAGEMENT SYSTEMS
WAYSTAR

AMBULATORY CLAIMS MANAGEMENT & PHYSICIAN CLEARINGHOUSE SOLUTIONS
AVAILITY

CHARGEMASTER SOLUTIONS
NTHRIVE CDM

ENTERPRISE DOCUMENT MANAGEMENT & IMAGING
CIOX HEALTH

ENTERPRISE RESOURCE PLANNING
PREMIER ERP

PATIENT ACCESS SOFTWARE
RECONDO TECHNOLOGY PATIENT ACCESS

HOSPITAL INPATIENT ACCOUNTING SYSTEMS
MEDITECH C/S PATIENT ACCOUNTING

END-TO-END RCM SOFTWARE & TECHNOLOGY, HOSPITAL CHAINS, SYSTEMS, CORPORATIONS, INTEGRATED DELIVERY NETWORKS & CORPORATION
OPTUM360

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