Large Hospitals Switching Out Old Patient Accounting Systems at Rapid Pace, GE Healthcare Earns Top 2014 Client Experience Scores in Black Book Survey

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The large hospital market segment is rapidly progressing with the replacement of old legacy patient accounting software... but is aggravated with the extraordinary delays, cost run-ups, extended implementations and glitches interrupting operations and driving hospitals deeper in the red.

Black Book Market Research, well known globally for accurate, impartial customer satisfaction surveys in the managed services and software industries, conducted a sweeping five month user poll to determine the highest ranked patient accounting vendors for 2014. As part of a major research focus on the current replacement market of outdated financial software tools, Black Book announced those vendors with the highest scores in 2014 client experience in the areas of patient accounting functionality and capabilities.

Over 1,200 patient accounting system users in hospitals over 150 beds were surveyed by Black Book, as well as hospital chains, systems, networks and hospital-centric value-based care organizations.

The 2014 top ranked vendor is GE Healthcare among large hospital and academic medical centers, and hospital chains and systems.

Other patient accounting competitors in the user poll also scoring among the top ten ranked solutions were Allscripts, Cerner, Epic, McKesson, Quadramed, Meditech and Siemens.

The respondents hailed from 566 different hospital and inpatient organizations including academic medical centers and hospital chains.

The survey ranked healthcare IT and outsourced services vendors by customer satisfaction on 18 client experience-based key performance indicators (KPIs) including patient accounting systems among inpatient facilities with over 150 beds.

34% of hospitals are in the determined process of switching older patient accounting and billing systems to a newer ones, although more than two-thirds of those hospitals have still not made final selections on new vendors.

“Hospital chief financial officers currently in patient accounting system transition are strategically managing the legacy costs of maintaining old billing systems at the same time they are choosing or installing new solutions,” said Doug Brown, Managing Partner of Black Book™. “It can complicate and delay the processing of tens of millions of dollars very quickly in a large hospital, so all eyes are on the successes and failures of peer hospitals and their vendor implementations.”

93 percent of hospitals with continuing negative operating margins say that in the next year they are prioritizing capital investments in patient accounting, coding, value-based support software, collections and RCM outsourcing.

"The industry is seeing more and more large hospitals transitioning away from even recently installed patient accounting software solutions and certain related IT services alleging that some patient accounting solutions purchased within the last decade are not, or can not deliver on the benefits required by reimbursement reforms," said Brown.

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 financial and clinical technology industries with comprehensive comparison data of the industry’s top respected and competitively performing technology, services and outsourcing vendors.

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Douglas Brown

Dr. Kevin Parker, Healthcare Research Director
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