89% of Physician Practices Want to Upgrade Billing, Collections Processes

The majority of physician practices, 89 percent, agree that their billing and collections systems and processes need to be upgraded, according to Kareo's Black Book Rankings 2014 User Survey.

Here are five statistics on what physician practices are planning for their revenue cycle management services.

•    21 percent of practices are considering upgrading their revenue cycle management software within six to 12 months
•    88 percent of practices expect a current revenue cycle management system upgrade within six months
•    90 percent of practices seeking a revenue cycle management and practice management upgrade are considering an EHR-centric module
•    33 percent of practices are considering using a consultant to aid in product implementation and integration
•    64 percent of practices are considering a combination or new software and outsourcing services to improve revenue cycle management

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