A new survey of hospital finance and tech administrators by Black Book Research found that three quarters of health systems with 300 beds, and 81 percent with fewer than 300 beds, are outsourcing IT departments in the face of bottom-line pressures.
"The reimbursement and population health challenges ahead to get paid may require several new applications," Doug Brown, managing partner of Black Book, said in a statement. "The frank reality is that outdated, understaffed and failing current solutions will close marginally performing hospitals for good."
Respondents to the survey reported that outsourcing offers them access to a fully-trained IT staff and more recognizable return on investment. Brown explained that more hospital leaders have made the choice to outsource IT services to keep their organizations afloat both financially and technologically.
To get a full understanding of how IT outsourcing has affected the health care industry, Black Book surveyed 1,030 hospital chief information officers and IT leaders, 243 chief financial officers and financial executives from 266 hospitals. Black Book also surveyed business managers from 1,400 outpatient, alternative care and physician practices. Approximately 600 of the survey participants are either current or former users of IT outsourcing, and 90 percent of them reported being near or at a full return on their investment within three months.
In the interest of financial solvency, many healthcare systems are not just outsourcing IT services. A survey by Peer60 from July found that 46 percent of financial healthcare executives plan to outsource their collections department. Black Book also conducted a survey in October on outsourcing collections and accounts receivable management, finding that 83 percent of hospitals are using these types of services.
To learn more ways to increase the financial efficiency of your health care organization, contact Professional Medical Services today.