Black Book Unveils 2024's Top Client-Rated Financial & RCM Solutions Leading Digital Transformation and Liquidity Management

Inflation, medical revenue losses, staffing challenges, and slow inpatient volume recovery have driven 2024 health system expenses up by over 16%. Advanced technologies are in demand as 87% of healthcare executives report outdated RCM systems and underperforming services.

Black Book™ surveyed 6,771 health system financial leaders to identify top financial software vendors and assess gaps in financial technology. Over 79% of respondents faced obstacles due to lack of advanced analytic tools, leading to strategic dysfunction caused by failed RCM software integrations.

81% of respondents relied on outdated systems, highlighting the need for technology upgrades. Although revenue declines are expected, 14% of CFOs reported deferring RCM technology spending, relying on outsourced services instead. 85% of leaders stressed the need for digital transformation.

The survey revealed that 71% prioritized rationalizing financial systems for streamlined solutions by Q1 2025. Modular technology improvements are ongoing, with 84% monitoring automation technologies to enhance financial efficiency. Digital transformation remains a top priority for 96% of CFOs.