NEWTON, Mass. – October 30, 2013 – 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 http://www.relayhealth.com/solutions/financial-solutions.