68% of provider execs project revenue cycle IT budget growth, 3 other findings

Hospital and health system executives expect continued growth of revenue cycle IT budgets over the next year, according to an annual survey from Navigant and the Healthcare Financial Management Association.  

The November survey involved 107 hospital and health system CFOs and revenue cycle executives.

Four findings:

1. Most respondents (68 percent) projected revenue cycle IT budget growth over the next year. That compares to 74 percent in 2017.

2. More than half of respondents (56 percent) said EHR revenue cycle management adoption challenges have equaled or outweighed advantages.

3. Fifty-six percent of respondents also said they have trouble keeping up with EHR upgrades or underuse EHR functions. That compares to 51 percent in 2017.

4. Eighty-one percent of respondents said they believe consumer self-pay will have a moderate or significant affect on their organization. That compares to 92 percent in 2017.

 

More articles on healthcare finance:

Michigan system seeks $63M in bonds for improvements, debt refinancing
Connecticut's ACA exchange protests Trump administration's planned abortion billing regulations
5 recent RCM tips

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers