Value-based Financial Services and Software Investments Advancing Maturation for Large Accountable Care Organizations; Small ACOs Lag Far Behind, Find Black Book Survey
As published by Black Book Rankings
Anticipating an adverse impact on profitability with the transition to value-based care, ACOs are focused on financial solutions. Black Book™ has produced a series of three ACO infrastructure surveys: Financial Services and Software, Clinical Integration and Support, and Business Intelligence and Analytics; and the first data set was released on July 24, 2014.
Financial solutions are among the highest infrastructure priorities as identified by 97 percent of ACO executives, in a recently published Black Book™ survey of over 600 ACOs. However, only 12 percent of operational ACOs and 6 percent of hospitals and physician groups sitting on the ACO sidelines believe they have the adequate installation of financial technology, outsourced services and consulting to be successful in the long term.
78 percent of CFOs confirm they are caught between revenue management services that fast-track the inflow of cash to sustain present fee-for-service reimbursement, and selecting ACO strategic solutions to assemble the groundwork to succeed with imminent risk-bearing payment models.
“Large ACO’s have the capital and provider base to strategically select vendors who can deliver end-to-end financial services and software now, ahead of tackling population health, clinical integration and business intelligence tools into the technology amalgam,” said Doug Brown, President of Black Book.
Black Book received 106 responses from the nearly 400 Medicare accountable care organizations at the time of the Q2 survey. Additionally, 718 commercial or combination Medicare/Commercial ACO staffers completed financial services and software evaluations from 840 various hospital and physician groups.
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