TAMPA, Fla., Nov. 12, 2018 /PRNewswire/ -- Highly functional, highly customizable integrated practice management, revenue cycle management and electronic health records systems are the sought-after solution of choice for thirty-six percent of hospital system executives, according to the Black Book's annual practice management satisfaction surveying of over 3,000 hospital-owned or employed physician practice organizations.

Forty percent of large hospital systems respondents report their organizations are budgeting to replace multiple existing medical practice systems to elevate their IDN practices with consolidated and integrated ambulatory technologies that complement and inter-operate with the hospital's EHR and RCM systems by Q4 2020.

"In a healthcare system dominated by large, integrated health care delivery organizations, centralized administrations are moving to achieve harmonized electronic health records, reimbursement systems and quality measures," said Doug Brown, Managing Partner of Black Book Research.
"With over fifty percent of US doctors receiving their pay directly or indirectly from a hospital system organization, CFOs and CIOs are seeing the value-based care model potential, reimbursement improvements and resources expenditure savings to be gained by implementing a fully integrated healthcare information technology system," said Brown.

Healthcare payment models are becoming more complex and the pace of change is increasingly creating challenges for health systems and their ability to improve the quality and efficiency of medical care. Eighty-five percent of IDN executives surveyed believe that the alignment of hospital and physician IT meets the challenges of evolving accountable care and value-based payment models.

Eighty-nine percent of hospital executive respondents state non-integrated EHR and current practice management systems do not allow leaders to strategically design alternative reimbursement and payment methodologies that will improve physician engagement and advance patient care.

"The trend to seek consolidated clinical and financial platforms across inpatient departments and ambulatory practices is being led by large, integrated delivery networks and hospital systems because insurance-mandated and government-mandated payment policies favor large health systems," said Brown. "Physician practices IT costs continue to rise as operating expenses practices increases at nearly the same pace as revenues. Hospital IDNs can quickly determine processes to cut workflow delays and resource costs, maximize scheduling and utilization, and maintain clinical quality through enhanced capabilities of integrated EHR, practice management and RCM."

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