According to a recent survey, many chief financial officers at financially strapped hospitals know it is time to invest in an updated revenue cycle management system (RCM). However, very often, health IT investments take priority. Becker’s Hospital CFO reports on the subject.
The reasons hospitals lack the capital to invest in updated RCM systems vary. However, many times clinical technology investments are winning out over financial investments such as revenue cycle upgrades. In fact, the CFOs surveyed by Black Book identified health IT as the primary reason for their RCM issues, with 40 percent of CFOs saying they were forced to postpone revenue cycle software transformation due to a misjudged EHR, health information and portal expenses.
