Survey reveals market shifts like new payment models and ICD-10 among top business concerns
PLANO, Texas — Healthcare data analytics can inform and guide organizations to help them plan for and overcome primary business issues in today’s complex healthcare environment, according to a survey of health care providers, billing companies and vendors conducted by RemitDATA Inc.
RemitDATA, a pioneer of comparative data analytics technology that brings 360-degree data transparency to the healthcare industry, conducted the recent survey to gauge what is truly important to these organizations in today’s complex healthcare environment.
The survey revealed that managing denials to resolution is the top business issue providers and RCM companies are facing. For vendors, keeping up with government mandates and regulations was the number one issue, followed closely by benchmarking revenue cycle data against external data. The survey further showed that most of the leading business concerns could be identified and managed through the application of comparative data analytics.
“We launched this survey to get a fresh perspective on the greatest business issues facing healthcare today in an effort to continue evolving our solutions based on market needs. Technology is intended to make it easier for stakeholders to navigate the complexities of today’s healthcare environment and we want our solutions to make a difference,” said Aaron Hood, VP of Marketing and Product Management.
Survey respondents were a diverse mix of providers, healthcare vendors and billing companies, representing a wide range of specialties, including nearly 40 different areas from family practice to orthopedic surgery. Each works with a payer mix, including government plans (Medicare, Medicaid, Tricare), commercial payers and worker’s compensation.
Chief concerns among respondents were identified in the survey. Respondents are concerned with improving visibility into their business through better healthcare data analytics, the ability to manage claims denials to resolution, acquiring new patients or clients, and the ability to navigate the impact of ICD-10. When it comes to revenue cycle solutions, respondents expressed interest in comparing internal data with external sources, workflow and data analytics, staff productivity, the ability to trend data, and the ability to view data in a single solution.
For more information on the survey, RemitDATA and its comparative analytics solutions for healthcare organizations, visit http://remitdata.com/resource/navigating-todays-healthcare-ecosystem/ or visit us at booth #3860 at HIMSS 2016, February 29 – March 4 in Las Vegas.