The survey, which was released at the start of this year's HFMA conference, included responses from 125 hospital and health system chief financial officers (CFOs) and revenue cycle executives. When asked which revenue cycle capability their organization is most focused on for improvement over the next year, 79 percent of respondents suggested technology-related capabilities, including business intelligence analytics, electronic health record (EHR)-enabled workflow or reporting, revenue integrity, and coding and physician/clinician documentation.
The survey found:
51 percent said their organizations cannot keep up with EHR upgrades or fail to maximize functional, workflow, and reporting improvements.
41 percent do not have a method to track the effectiveness of their technology enhancements.
21 percent attempt to identify cost reductions through vendor consolidation.