|By Business Wire||
|October 28, 2013 08:11 AM EDT||
In the largest opinion poll ever undertaken on revenue cycle management (RCM) software, providers named McKesson RelayHealth Financial number one in Customer Satisfaction, besting 104 other vendors in the study. McKesson RelayHealth Financial was also ranked the number one revenue cycle solution overall for hospital systems, integrated delivery networks (IDNs) and accountable care organizations.
“Next year is a pivotal one for hospitals across America, and revenue cycle is a key area where they’re going to invest,” said Doug Brown, Partner at Black Book, in Clearwater, Fla. “They can’t delay their revenue cycle decision any longer. They need to transform their budgets, because with the industry changes coming—ICD-10, the Affordable Care Act, and reduced reimbursements—their risk is only increasing. Once they plan their transformation, it’s crucial they look at the top-rated vendors in our study. And for a company such as RelayHealth, which can provide both the software and the support, it’s an excellent opportunity to provide a solution that can be valuable to every hospital, regardless of its size.”
Black Book™ surveyed 3,700 healthcare financial executives, administrators, and managers at 557 hospital and inpatient facilities to assess revenue cycle outcomes across 18 factors. The result: McKesson RelayHealth Financial achieved four out of four possible “A” ratings for RCM Satisfaction by segment (large systems, small systems, IPAs/ACOs, IDNs), the highest rating achieved by the top 20 vendors in the report.
Each “A” rating represents greater than 90 percent satisfaction with a vendor’s revenue cycle management solution in one of four categories. “B” ratings represent 80 to 90 percent satisfaction, while “C” ratings indicate 70 to 80 percent satisfaction. RelayHealth Financial did not receive any C ratings in any category.
According to Black Book, complex system vendors are typically in use at large hospitals and academic medical centers with over 400 beds. A vendor must have at least 20 unique hospital clients to be included in Black Book’s research.
Overall, McKesson RelayHealth Financial outscored all revenue cycle management software competitors in 10 of 18 key performance indicators.
“We’re proud to receive this distinction from the Black Book study, particularly since it takes into account the voice of the customer,” said Dave Mason, senior vice president, McKesson RelayHealth Financial. “Customer satisfaction and feedback is what we’re all about. We constantly strive to have the most satisfied customers in the industry. This also affirms our continued focus on high year-over-year customer retention.”
Providers use Black Book’s reports to identify the top 20 solution vendors in a technology category, and develop a short-list for their RFPs or to send solicitations through purchasing. The full research study, “BLACK BOOK RANKINGS 2013 USER SURVEY: Top Hospital Software Vendors, Revenue Cycle Management, Hospital Chains/Systems, Networks & ACOs,” is available at http://www.blackbookrankings.com/healthcare/rankings-revenue-cycle-management.php.
For more information on McKesson RelayHealth Financial, visit our Web site at http://www.relayhealth.com/solutions/financial-solutions, learn from our experts at the RelayHealth blog, follow us on Twitter at @RelayHealth, or visit the RelayHealth Facebook page.
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About Black Book
Black Book Rankings, a division of Black Book Market Research LLC, provides healthcare IT users, media, investors, analysts, quality minded vendors, and prospective software system buyers, pharmaceutical manufacturers, and other interested sectors of the clinical technology industry with comprehensive comparison data of the industry’s top respected and competitively performing technology vendors. The largest user opinion poll of its kind in healthcare IT, Black Book collects over 400,000 viewpoints on information technology and outsourced services vendor performance annually. For methodology, auditing, resources, comprehensive research and ranking data see www.BlackBookRankings.com.
About McKesson RelayHealth Financial
Every day across America, more than 2,000 hospitals and health systems rely on RelayHealth to help them process over 5 million patient claims, worth over $1.1 trillion annually. Our broad array of revenue cycle management solutions use the power of the cloud and big data to help healthcare professionals make better financial decisions for their organizations and patients, right at the point of care. Nobody does more than RelayHealth to bring healthcare connections to life. For more information, visit http://www.relayhealth.com/solutions/financial-solutions.
About McKesson Corporation
McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit us at www.mckesson.com.
Tags: McKesson, McKesson Health Solutions, RelayHealth, Revenue Cycle Management, Black Book, Market Research, Healthcare, Revcycle