CFOs cite analytics and digital tools as critical for health system survival
LIVONIA, Mich. (June 21, 2019) —For a second year in a row, Black Book ranked RevSpring as the number one vendor for Patient Analytics Solutions. According to the 2019 Black Book CFO & Financial Leadership Survey, investment in digital transformation is vital for health systems to keep a competitive advantage; and eight in ten CFOs surveyed believe digital transformation is critical for their health system to survive long term.
“This study confirms healthcare financial leaders see big data and advanced analytics as the top potential driver for transforming financial workflows and results,” said Martin Callahan, RevSpring’s president of healthcare. “Being ranked as the top RCM analytics vendor a second year in a row validates that we continue to be the leaders in analytic innovation providing meaningful impact on patient experience and financial health.”
Additionally, the survey identified that CFOs are shifting their priorities from cost cutting to rapidly investing in financial technologies, with nearly 51 percent of financial executives reporting that implementation of analytics is a primary focus.
In 2018, RevSpring also ranked number one vendor in the 2018 Black Book™ Top Patient Revenue Analytics Satisfaction Survey. Vu™, RevSpring’s intelligent, behavioral analytics engine, leverages patient data to automatically match financial conversations to each patient’s unique needs. The company’s advanced analytics platform leverages predictive modeling, which combines demographic, financial, and historical data to tailor patient payment conversations to influence patient behavior and inspire action and payments.
“The use of iterative learning and personalization are becoming necessary tactics on the patient-facing side of revenue cycle,” said April Wilson, RevSpring’s Vice President of Analytics. “This is especially true as the industry looks for ways to accommodate a patient’s financial situation and address concerns like financial toxicity which emphasizes the increasingly important role revenue cycle plays in creating a positive and pleasant healthcare financial experience for patients.”
For more information or to request a copy of these Black Book Market’s 2019 survey, email RevSpring at firstname.lastname@example.org.
RevSpring leads the market in financial communications and payment solutions that inspire action – from the front office, to the back office, to the collections office. North America’s leading healthcare organizations trust RevSpring to maximize their financial results through dynamic and personalized print, online, phone, email and text communications and payment options. Using proprietary data analytics to tailor the engagement workflows to fit individual circumstances and preferences, RevSpring solutions improve the patient financial experience and drive better outcomes. To learn more, visit www.revspringinc.com. For information about RevSpring’s focus in healthcare, visit www.revspringinc.com/healthcare.
About Black Book Research Reports
Black Book™ annually evaluates leading health care/medical software and outsourcing service providers across 18 operational excellence key performance indicators completely from the perspective of the client experience. Independent and unbiased from vendor influence, more than 598,000 healthcare IT users are invited to contribute to various annual customer satisfaction polls. For more information on reports published by Black Book, visit www.blackbookmarketresearch.com.