• Accenture and ServiceNow Launch Dedicated Business Group to Help Organizations Transform Work

    Multi-million dollar investment in new Accenture ServiceNow Business Group will accelerate and expand delivery of mission-critical digital workflow solutions

    NEW YORK and SANTA CLARA, Calif., Oct. 22, 2020 – Accenture (NYSE: ACN) and ServiceNow (NYSE: NOW) have formed a new business group to help private and public sector clients accelerate their digital transformation and better address today’s dynamic operational challenges. The Accenture ServiceNow Business Group represents a significant multi‑million dollar investment from both companies over the next five years.

    In the COVID‑19 era, organizations are under more pressure than ever to innovate faster, reduce costs, enhance productivity, and meet their customers’ needs. The Accenture ServiceNow Business Group will help organizations rapidly evolve organizational processes and unlock the full value of technology investments by adopting digital workflows that deliver modern, personalized customer and employee experiences. This includes empowering employees and customers with self‑service and remote work programs that offer increased flexibility, mobility, and choice. By establishing a more modern workplace with platform‑driven, technology‑enabled workflows, organizations are better positioned to balance business needs, satisfy customer demands, drive employee engagement, deliver productivity expectations, and realize workplace cost optimization.

    “By further strengthening our strategic alliance with ServiceNow, we will enable our clients to more quickly embrace change,” said Julie Sweet, chief executive officer, Accenture. “With a move to the cloud, they can reimagine their operations, reskill their employees, and become more sustainable. Working together with ServiceNow to automate complex processes and create better experiences across industries, we will help organizations deliver greater 360‑degree value that benefits all — their customers, people, shareholders, partners, and communities.”

    ServiceNow CEO Bill McDermott said: “Leaders in every organization know that their 20th century technologies are too slow, too siloed, too stuck in the status quo to meet the dynamic digital demands of employees and customers today. Speed, agility, and resilience are what’s needed now. Our ServiceNow and Accenture partnership brings together world‑class teams, expertise, and our modern workflow platform to accelerate every organization’s digital transformation. The Accenture ServiceNow Business Group will help every organization become a 21 st century digital business.”

    The Accenture ServiceNow Business Group will deliver industry‑ and domain‑specific solutions and services to customers. Together, Accenture and ServiceNow will initially help accelerate digital transformation programs for customers in telecommunications, financial services, government, manufacturing, healthcare, and life sciences. Workflow innovation will focus on employee engagement, customer service and operations, artificial intelligence for IT operations, and security and risk. Additional industry solutions will be developed in the future.

    Supported by approximately 8,500 Accenture people skilled in ServiceNow, the new group brings together dedicated professionals from both organizations with expertise in transformational workflow and platform development, marketing, sales, and business development across numerous priority industries. The business group will develop advanced industry and domain‑focused solutions designed to deliver tangible, positive outcomes for clients at scale.

    For example, Boehringer Ingelheim, a leading, research‑driven pharmaceutical company with more than 51,000 employees and an Accenture and ServiceNow customer, uses ServiceNow’s technology and Accenture services to create a seamless, consumer‑grade experience for global employees and customers.

    “Our work with Accenture and ServiceNow has strategically fueled our innovation power. By optimizing our global employee experience, we’ve made our work processes across business functions faster and more efficient, ultimately driving better patient outcomes,” said Andreas Henrich, corporate vice president of IT Enterprise Data Services at Boehringer Ingelheim. “We’ve reduced complexity across our disparate bespoke systems and, in doing so, have transformed our business for growth.”

    Accenture and ServiceNow also collaborate to serve government entities. Earlier this year, Accenture Federal Services (AFS) announced a $96 million task order to help the Department of Veterans Affairs (VA) modernize its enterprise service management and IT capabilities, using ServiceNow to power the digital transformations end‑to‑end. Using the Now Platform, AFS will work with the VA to automate its manual workflows and introduce applied intelligence (AI) and machine learning capabilities, allowing the VA workforce to focus on more complex tasks that serve veterans.

    “Today, Veterans Affairs is truly running IT like a business,” said Greg Rankin, Service Management Office Director, Department of Veterans Affairs Office of Information & Technology. “We are utilizing ServiceNow’s powerful discovery engine and Accenture’s expertise to create top‑down business service maps that eliminate the guessing game as to which configuration items underpin which business service. With a mission as critical as providing service to veterans, it’s imperative that we have real‑time visibility into the health, availability, and costs of the services we provide – we have that now.”

    Accenture’s use of ServiceNow is a strategic enabler of customer‑facing innovation at scale and, as a ServiceNow customer, the company uses ServiceNow workflows for employee engagement, invoice processing, asset management, artificial intelligence for IT operations, and its universal service desk. Accenture recently made the Now Mobile app available to its more than 500,000 people.

    As a ServiceNow Global Elite Partner, Accenture is one of ServiceNow’s largest global go‑to‑market partners and winner of its Global Partner of the Year award in 2020. For more information on the Accenture ServiceNow Business Group, visit:

    About Accenture

    Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

    About ServiceNow

    ServiceNow (NYSE: NOW) is making the world of work, work better for people. Our cloud‑based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. For more information, visit: www.servicenow.com.

    © 2020 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.

    Use of Forward‑Looking Statements

    This release contains “forward‑looking statements” about the expectations, beliefs, plans, and intentions relating to the creation of the Accenture ServiceNow Business Group. Such forward‑looking statements include statements regarding expected performance and benefits of our new Business Group. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward‑looking statements we make. We undertake no obligation, and do not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward‑looking statements include: (i) delays and unexpected difficulties and expenses in executing this strategy; (ii) uncertainty as to whether sales will justify the significant investment; and (iii) changes in the regulatory landscape in the various industries and domains we are providing or seek to provide solutions and services. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.

    Contacts:

    Accenture Media Relations
    Mylissa Tsai
    +1 917 452 9729
    [email protected]

    ServiceNow PR
    Emily Scher
    +1 408 916 6566
    [email protected]

    Posted 10.28.2020

  • Impact Advisors Receives High Marks in KLAS Implementation Leadership Report

    Firm receives high praise for providing strong strategic guidance

    CHICAGO (Oct. 22, 2020) — Impact Advisors, a leading provider of strategy, performance excellence,
    revenue cycle management, ERP, implementation, and technology consulting services to the healthcare
    industry, has been recognized by KLAS in the Implementation Leadership 2020 report. The firm is one of
    25 to be recognized in the report with an overall score of 93.5.
    “We are honored to be recognized by KLAS for our leadership during implementation projects, as this is
    still an area where our clients need strategic expertise and guidance,” Impact Advisors CEO Pete Smith
    said. “This recognition is a reflection of the quality of service and value we provide to our clients. Strong
    project management skills and a deep knowledge of EHR applications is the foundation of Impact’s
    success in working with EHR vendors and our mutual clients.”
    Each year, KLAS interviews thousands of healthcare professionals about the IT products and services
    their organizations use. These interviews are conducted using a standard quantitative evaluation, and the
    scores and commentary collected are used in reports like this one and shared online in real time so other
    providers and IT professionals can benefit from their peers’ experiences. KLAS has organized the
    responses into five customer experience pillars – loyalty, operations, services, relationship and value – so
    readers can easily review and compare the high-level performance differences.
    Impact Advisors was rated in the “broad firms” category meaning the organization helps clients implement
    software from multiple vendors. The firm scored well in all pillars, but compared to other firms, received
    the most praise around following through on their promises and providing strong strategic guidance in
    their clients’ best interest. Impact was also recognized for consistently satisfying clients with large,
    complex projects.
    Clients interviewed by KLAS say the firm’s consultants integrate well as part of the team, treat them as
    partners, have valuable management skills, and can successfully guide organizations through an
    implementation. Many clients are repeat customers who have worked with the firm before and would
    choose them again.
    Impact Advisors has an extensive history of helping clients plan and deploy interoperable technologies that
    enable the delivery and business of healthcare. Associates have held key leadership roles on some of the
    most successful implementation projects in the industry. The company’s proven implementation services
    and methodology include planning, system design, system build, workflow design, change management,
    test script development, and execution and follow-through on issues, go-live planning and support, and
    overall project management.
    The firm was named No. 1 Best in KLAS in HIT Implementation Leadership (Large) in the 2020 Best in
    KLAS: Software and Services report.

    About Impact Advisors
    Impact Advisors is a nationally recognized healthcare consulting firm that is solving some of the toughest
    challenges in the industry by delivering strategic advisory, technology implementation and performance
    improvement services. Our comprehensive suite of digital health, clinical optimization and revenue cycle
    services spans the lifecycle of our clients’ needs. Our experienced team has a powerful combination of
    clinical, revenue, operations, consulting and IT experience. The firm has earned a number of prestigious
    industry and workplace awards, including Best in KLAS® for 13 consecutive years Healthcare Informatics
    HCI 100, Crain’s Chicago Business Fast Fifty, as well as “best place to work” awards from: Modern
    Healthcare, Consulting Magazine, Becker’s Hospital Review and Achievers. For more information about
    Impact Advisors, visit www.impact-advisors.com.

    Media Contact:
    Karli Smith
    Chartwell Agency
    815-977-5343
    [email protected]

    Posted 10.23.2020

  • Research Shows Mature Data Privacy Programs Have Greater Benefits

    New study reveals global adoption of data and privacy programs still maturing; however healthcare industry leads the way in advancements

    CLEARWATER, Fla., Oct. 15, 2020 /PRNewswire/ — FairWarning, the proven leader in protecting the privacy of people and organizations by securing their most sensitive data, today announced the results of its Benefits, Attributes and Habits of Mature Privacy and Data Protection Program Report, in partnership with the International Association of Privacy Professionals (IAPP).

    The importance of privacy and data protection is a critical issue for organizations as it transcends beyond legal departments to the forefront of an organization’s strategic priorities. The research, based on survey results from more than 550 global privacy and data protection, IT, and compliance professionals outlines the characteristics and behaviors of advanced privacy and data protection teams. By examining the trends of privacy adoption and maturity across industries, the research uncovers adjustments that security and privacy leaders need to make to better protect their organization’s data.

    Key findings within the Benefits, Attributes and Habits of Mature Privacy and Data Protection Program Report include:

    • The Prevalence of Data and Privacy Attacks:Insights from the research reinforce the importance of privacy and data protection as two-thirds of responding organizations (67%) documented at least one privacy incident within the past three years, and over 24% of those experienced 30 or more. Additionally, 50% of all respondents reported at least one data breach in the last three years, with 10% reporting 30 or more.
    • Overall Immaturity of Privacy Programs: Despite increased regulations, breaches and privacy incidents, organizations have not rapidly accelerated the advancement of their privacy programs as 44% responded they are in the early stages of adoption and 28% are in middle stages.
    • Healthcare and Software Rise to the Top: Despite an overall lack of maturity across industries, healthcare and software organizations reflect more maturity in their privacy programs, as compared to insurance, banking, government, consulting services, education institutions and academia.
    • Harnessing the Power of Data and Privacy Programs:Respondents understand the significant benefits of a mature privacy program as organizations experience greater gains across every area measured including: increased employee privacy awareness, mitigating data breaches, greater consumer trust, reduced privacy complaints, quality and innovation, competitive advantage, and operational efficiency. Of note, more mature companies believe they experience the largest gain in reducing privacy complaints (30.3% higher than early stage respondents).
    • Attributes and Habits of Mature Privacy and Data Protection Programs:Companies with more mature privacy programs are more likely to have C-Suite privacy and security roles within their organization than those in the mid- to early-stages of privacy program development. Additionally, 88.2% of advanced stage organizations know where most or all of their personally identifiable information/personal health information is located, compared to 69.5% of early stage respondents.
    • Importance of Automated Tools to Monitor User Activity: Insights reveal a clear distinction between the maturity levels of privacy programs and related benefits of automated tools as the majority of respondents (54%) with more mature programs have implemented this type of technology compared with only 28.1% in early stage development. Automated tools enable organizations to monitor all user activity in applications and efficiently identify anomalous activity that signals a breach or privacy violation.

    “This research revealed a major gap between mature and early stage privacy programs and the benefits they receive,” said Ed Holmes, CEO, FairWarning. “It is exciting to see healthcare at the top when it comes to privacy maturity. However, as we dig deeper into the data, we find that 37% of respondents with 30 or more breaches are from healthcare, indicating that there is still more work to be done. This study highlights useful guidance on steps all organizations can take regardless of industry or size to advance their program and ensure they are at the forefront of privacy and data protection.”

    “In today’s fast-paced and increasingly digitized world, organizations regardless of size or industry, need to prioritize data and privacy protection,” said IAPP President & CEO J. Trevor Hughes. “As the research has demonstrated, it is imperative that security and privacy professionals recognize the importance of implementing privacy and data protection programs to not only reduce privacy complaints and data breaches, but increase operational efficiency.”

    For the full report and a list of recommendations to better protect your organization, visit here.

    Additionally, for more information about FairWarning, visit the company’s website, or find us on Twitter, LinkedIn, and Facebook.

    About FairWarning®

    As the leader in protecting privacy and securing data stored in mission-critical applications, FairWarning’s platform helps healthcare and enterprise organizations comply with regulations, protect sensitive data, and prevent insider threats. A driving force in building the patient privacy monitoring industry, FairWarning expanded its expertise beyond healthcare to support other highly regulated industries and applications like Salesforce to help customers easily interpret, investigate and detect anomalous user access or behavior. The company combines the most advanced technologies including machine learning and AI with best practices and managed services to provide the highest level of security to organizations across the globe. Safeguarding over 350 enterprise customers globally, including 35% of U.S. health systems, FairWarning is trusted to protect organizations’ sensitive data while creating a culture of privacy.

    SOURCE FairWarning, Inc.

    Related Links

    www.fairwarning.com

    Posted 10.15.2020

  • 314e’s EHR Help Product ‘Speki’ Lists on Epic App Orchard

    PLEASANTON, Calif., Oct. 14, 2020 /PRNewswire/ — 314e Corporation, a leader in Healthcare IT products & solutions, announced today the listing of its EHR Help Product “Speki” on the Epic App Orchard. Speki will embed access to training assistance directly within the Epic Hyperspace user interface (using SMART® on FHIR®), making Epic EHR help available when and where your end-users need it the most.

    Abhishek Begerhotta, CEO of 314e Corporation said, “Epic is one of the most commonly used EHRs in the hospital space and we are delighted to have Speki listed in the Epic App Orchard. Now, Epic customers will not have to look elsewhere to get best-in-class Epic EHR help for their users.” Abhishek confirmed that Speki currently supports Epic versions – November 2019, February 2020 and May 2020.

    Click here to visit Speki’s listing page on the Epic App Orchard. Click here to know more about Speki EHR Help.

    Note: Epic and Epic App Orchard are trademarks of Epic Systems Corporation.

    About 314e Corporation
    314e Corporation is a Best in KLAS healthcare solutions provider serving 200+ hospitals, physician groups & payers with digital transformation via cloud adoption, big data, integration, digital learning as well as EHR/ERP implementation, optimization & support. 314e is headquartered in Pleasanton, CA with offices in Blue Bell, PA & Bengaluru, India. Visit 314e.com to learn more.

    Media contact:
    Mimi Curiel
    [email protected]
    510-371-6736

    SOURCE 314e Corporation

    Related Links

    https://www.314e.com

    Posted 10.15.2020

  • 314e Corporation launches Speki EHR Help

    Pleasanton, Sep 28, 2020 (Issuewire.com)  – 314e Corporation, a leader in Healthcare IT products & solutions, announced today the launch of its state-of-the-art EHR Help product “Speki”. Speki embeds the access to training assistance directly within the EHR user interface (using SMART® on FHIR®), making EHR help available when and where your end-users need it the most.

    Alok Sharma, 314e’s COO, summarized Speki in one sentence, “Think of Speki as your at-the-elbow support, that never goes away!”. Alok cited that the real use-case is simple yet meaningful. “Say your provider is in the middle of placing a lab order in the EHR but doesn’t necessarily remember the sequence of actions. Earlier, the provider would have to leave the current EHR screen, go to the help library, search for the right help resource and find the step where they got stuck. With Speki, all they do is click the Speki button on the EHR to access specific information about how to accomplish the task at hand, without ever leaving the EHR.”

    Speki is a secure, cloud-based platform, with a high-quality full-text search engine combined with video streaming that provides a modern, world-class help experience for EHR users. Without leaving the flow of work, EHR users will have access to an entire library of micro-learning videos, tip sheets, and other documents to support their effective use of the EHR. Speki provides that information in a way that ensures that the right answer is only 3 clicks away. 

    314e’s CEO Abhishek Begerhotta said, “We are very excited to launch Speki which we believe will be a game-changer by providing on-demand EHR Help. As EHRs become more complex, two problems come to the fore for your health system. There is a strong business need to control training costs and reduce the training time in the classroom. At the same time, clinicians and medical staff need answers about EHR functionality related issues in real-time. It is not practical that they raise a ticket to the help desk and wait for a response. Speki solves both these issues. 314e plans to integrate Speki with a variety of popular EHR systems like Epic, Cerner, eClinicalWorks etc.”

    Click here to learn more about Speki.

    About 314e Corporation

    314e Corporation is a Best in KLAS healthcare solutions provider serving 200+ hospitals, physician groups & payers with digital transformation via cloud adoption, big data, integration, digital learning as well as EHR/ERP implementation, optimization & support. 314e is headquartered in Pleasanton, CA with offices in Blue Bell, PA & Bengaluru, India. Visit 314e.com to learn more.

     

    Media Contact

    Mimi Curiel[email protected]

    510-371-67366701

    Koll Center Pkwy Ste 340, Pleasanton CA 94566

    https://314e.com

    Posted 10.8.2020

  • CHIME Digital Health Most Wired Participation Grows Exponentially

    ANN ARBOR, MI, Oct. 5, 2020 – A total of eight healthcare organizations today were eligible to receive this year’s College of Healthcare Information Management Executives (CHIME) Digital Health Most Wired Level 10 certification, the highest tier of recognition possible. More than 30,000 facilities were represented in the 2020 survey, which is almost double 2019’s representation. These increases are especially significant in light of the survey being updated yearly to represent the best practices in digital healthcare. 
     
    “This has been an incredibly challenging year for healthcare organizations around the world and these digital health leaders should be proud of the support their teams provide in the toughest of conditions,” said CHIME President and CEO Russell P. Branzell. “The pandemic forced them to quickly pivot to services like telehealth, with their entire organization working 24/7 to help keep patients and providers safe. It is testament to their commitment to quality care that they participated in our survey – for many, for the very first time.”
     
    This is the third year that CHIME has conducted the survey and overseen the program. In each successive year, CHIME has expanded the survey to capture more types of organizations that serve patients across the continuum of care. This year the Digital Health Most Wired program added a long-term care survey to the previous options of domestic, ambulatory and international. The surveys assess the adoption, integration and impact of technologies in healthcare organizations at all stages of development, from early development to industry leading.
     
    Each participating organization received a customized benchmarking report, an overall score and scores for individual levels in eight segments: infrastructure; security; business/disaster recovery; administrative/supply chain; analytics/data management; interoperability/population health; patient engagement; and clinical quality/safety. Participants can use the report and scores to identify strengths and opportunities for improvement. Each also received certification based on their overall performance, with level 10 being the highest. Organizations earning level 7-10 certification will receive special recognition at the CHIME20: Digital Recharge virtual education forum Nov. 10-12.
     
    Overall:
    • 14 countries were represented
    • 30,091 facilities were represented
    • 8 organizations are eligible to receive Level 10 certification, pending on-site evaluation
     
    A list of the Level 10-7 recipient organizations presented by category is available here. 
     
     
    About CHIME
    The College of Healthcare Information Management Executives (CHIME) is an executive organization dedicated to serving chief information officers (CIOs), chief medical information officers (CMIOs), chief nursing information officers (CNIOs), chief innovation officers (CIOs), chief digital officers (CDOs) and other senior healthcare IT leaders. With more than 5,000 members in 55 countries and over 150 healthcare IT business partners and professional services firms, CHIME and its three associations provide a highly interactive, trusted environment enabling senior professional and industry leaders to collaborate, exchange best practices, address professional development needs and advocate the effective use of information management to improve the health and care in the communities they serve. For more information, please visit chimecentral.org.
     
    Contact
    Candace Stuart
    Director of Communications and Public Relations, CHIME
    734.665.0000
     
    Posted 10.5.2020

  • KLAS-CHIME: PROVIDERS SEARCHING FOR POSITIVE ROI ON POPULATION HEALTH MANAGEMENT SOLUTIONS

    Sluggish growth in value-based care reimbursement driving a strategic, risk-adverse approach

    ANN ARBOR, MICHIGAN AND SALT LAKE CITY, UTAH, OCTOBER 1, 2020 – With value-based reimbursement (VBR) adoption slowing, healthcare providers are searching for ways to manage risk and achieve ROI on population health management (PHM) solutions adoption, according to a new report from KLAS Research and CHIME – the College of Healthcare Information Management Executives. The new report, issued today, found that providers are looking first to their electronic health record (EHR) systems to drive PHM, and are most interested in investing in new healthcare information technology (HIT) when they know there is a clear ROI.  This new Decision Insights report was based on findings from KLAS Decision Insights, the KLAS 2019 Population Health Management Cornerstone Summit, and CHIME’s 2019 HealthCare’s Most Wired data.

    “The Digital Health Most Wired survey results help identify trends in the industry, high performing organizations/teams and opportunities to improve,” said Russell Branzell, CHIME’s president and CEO. “Digital Health Most Wired shows how industry-leading healthcare organizations are using data and analytical tools to support population health strategies and progress in their digital health strategies.” 

    “Providers are trying to find positive ROI on their population health management investments,” said Adam Gale, president of KLAS Research. “This report offers a useful roadmap for how they can meet that challenge.”

    Among the research findings:

    VBR contracts now account for 26% of hospital revenue. Fee-for-service still outpaces VBR, and over time, the lack of significant progress toward VBR has eroded healthcare organizations’ confidence that the change will happen in the near future. The biggest factors limiting adoption of VBR are uncertainty that an ROI will be achieved and a lack of needed infrastructure.

    Provider organizations look first to the EMR to drive PHM workflows. Though provider organizations may not ultimately choose their EMR for certain population health management (PHM) needs, EMRs are almost always considered, due to (1) assumed integration with EMR data; (2) anticipated cost savings; and (3) increased ease of access to PHM data in the EMR.

    Organizations invest in HIT when there is a concrete ROI. Solutions that help organizations identify and act on care gaps see some of the broadest adoption as they can be helpful with just about any VBR contract. Once a gap is identified, organizations need to reach out to the patient and close it, so patient engagement tools are also highly sought after.

    Functionality is a significant driver in PHM purchase decisions.  Healthcare organizations are looking for enterprise EMRs and broad BI platforms capable of tackling a large swath of their PHM and VBR-related functionality needs (e.g., root cause analysis, A/B testing, etc.). In this quest for consolidation, organizations are seeking to eliminate ad hoc interfaces and replace vendors who haven’t delivered on functionality or quality.

    KLAS Decision Insights conveys the future plans of current and potential customers in a given market segment. When a provider organization reports they have made a solution change in the last 12 months or plan to do so in the next 24 months, that decision is captured in the form of Decision Insights data. Decision Insights data does not represent a comprehensive census or win/loss market share study. Rather, it is intended to help provider organizations understand which vendors have market energy and why.

    About CHIME

    The College of Healthcare Information Management Executives (CHIME) is an executive organization dedicated to serving chief information officers (CIOs), chief medical information officers (CMIOs), chief nursing information officers (CNIOs), chief innovation officers (CIOs), chief digital officers (CDOs) and other senior healthcare IT leaders. With more than 3,400 members in 55 countries and over 150 healthcare IT business partners and professional services firms, CHIME provides a highly interactive, trusted environment enabling senior professional and industry leaders to collaborate; exchange best practices; address professional development needs; and advocate the effective use of information management to improve the health and care in the communities they serve. For more information, please visit chimecentral.org.

    About KLAS

    KLAS is a research and insights firm on a global mission to improve healthcare delivery. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software, services and medical equipment to deliver timely, actionable reports and consulting services. KLAS represents the provider and payer voice and acts as a catalyst for improving vendor performance, highlighting healthcare industry challenges and opportunities, and helping build understanding and consensus for best practices. To learn more about KLAS, go to klasresearch.com.

    Contacts
    Candace Stuart
    Director of Communications and Public Relations, CHIME
    734.665.0000
    [email protected]

    Joshua Schneck
    PR Counsel for KLAS
    612-709-8500
    www.snowcommunications.com

    Posted 10.2.2020

  • Hospital Executives Predict Significant Shifts in Payer Mix, Revenue Cycle IT Budgets Post-COVID-19, According to Guidehouse

    WASHINGTON, Sept. 30, 2020 — Approximately 70% of hospital and health system leaders are preparing for an increase in post-COVID-19 self-pay consumers and Medicaid beneficiaries, and a decrease in commercial reimbursement, according to a Guidehouse Center for Health Insights analysis of an executive survey conducted by Healthcare Financial Management Association (HFMA).

    More than 150 provider chief financial officers and revenue cycle executives responded to the survey, which takes an in-depth look at their projections over the next 12 months across key areas, including payer mix shifts, consumer and employee experience strategies, revenue cycle IT budgets, electronic health record (EHR) satisfaction, and price transparency preparedness.

    Notably, 92% of executives have increased telehealth use, with 73% using it to better-engage patients and address consumer responsibility. Executives also cited financial counseling and payment plans (63%), as well as online portals for price estimates and payment (56%), as strategies to better-engage consumers.

    “With health system margins primarily driven by elective services, the pandemic is gravely impacting provider revenue streams and payer mix,” said Timothy E. Kinney, Guidehouse partner. “As our economy labors post-pandemic, insured patients will struggle to shoulder greater cost sharing through high-deductible plans coupled with volatile unemployment rates. Healthcare leaders need to closely evaluate their payer mix and develop winning consumer experience strategies to overcome a slow recovery in patient volumes and an uptick in self-pay and Medicaid enrollees.”

    Strategic Investments in Revenue Cycle IT Coupled with a Remote Workforce

    Guidehouse found that providers are planning for marked revenue cycle IT budget decreases. Over the next 12 months, compared with 2019 survey results:

    • 35% of executives cited their organization’s IT budgets will increase, down from 69%.
    • 27% of executives cited IT budget decreases, up from 5%.

    Collaboration with external entities, including vendor partnerships (37%) and outsourcing (32%), were the most often cited strategies for decreasing revenue cycle costs and increasing economies of scale, according to the survey. In addition, 27% of executives cited using advanced health IT, including robotic process automation.

    For the revenue cycle management workforce, almost 90% of providers have shifted to remote arrangements. Of those, nearly half have decided to continue with remote options and are reassessing future space-use needs. Moreover, only 12% of executives expect staff to return to pre-pandemic arrangements.

    “As the revenue cycle workforce goes remote and budgets tighten, health system leaders are evaluating strategic investments in vendor partnerships and outsourced services,” said Mary Beth Briscoe, FHFMA, FACHE, CPA, MBA, CMRP, a senior advisor to Guidehouse who formerly served as a health system CFO and HFMA national board chair. “While digital technologies will be a necessity post-COVID-19, they must be methodically selected to ensure they are unlocking long-term performance improvement opportunities.”

    Adaptation to Electronic Health Records

    As EHRs continue to mature, providers appear to be benefiting from their capabilities. However, only one-in-five executives cited a seamless transition with their EHR to using telehealth, which has been an essential component to engaging with patients during COVID-19. Among respondents, compared to 2019 survey results:

    • 42% cited EHR adoption benefits are outweighing challenges, up from 31%.
    • 68% cited they appropriately utilize available EHR functions, up from 59%.
    • 55% cited they quickly adapted to functional releases, up from 44%.

    Price Transparency Compliance Concerns

    Though the Centers for Medicare & Medicaid Services hospital price transparency rule is scheduled to go into effect on Jan. 1, 2021, only 12% of executives said their organizations are ready to comply, with one-third suggesting they are unprepared. Concerns about disclosing rates to payers, media, and consumers (38%), and lack of an analytics infrastructure (26%), are cited as the biggest obstacles for compliance.

    The survey analysis was provided by the Guidehouse Center for Health Insights, a source for the latest health research, trends, and best practices. With multiple Best in KLAS awards, the Guidehouse Health team helps hospitals and health systems, government agencies, life sciences companies, and payers strategically redesign, revitalize, and transform their operations.

    About Guidehouse
    Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation, and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in McLean, VA., the company has more than 8,000 professionals in more than 50 locations. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

    Media Contact

    Morgan Guthrie

    [email protected]

    Healthcare

    Posted 10.1.2020

  • Hospital Executives Predict Significant Shifts in Payer Mix, Revenue Cycle IT Budgets Post-COVID-19, According to Guidehouse

    WASHINGTON, Sept. 30, 2020 — Approximately 70% of hospital and health system leaders are preparing for an increase in post-COVID-19 self-pay consumers and Medicaid beneficiaries, and a decrease in commercial reimbursement, according to a Guidehouse Center for Health Insights analysis of an executive survey conducted by Healthcare Financial Management Association (HFMA).

    More than 150 provider chief financial officers and revenue cycle executives responded to the survey, which takes an in-depth look at their projections over the next 12 months across key areas, including payer mix shifts, consumer and employee experience strategies, revenue cycle IT budgets, electronic health record (EHR) satisfaction, and price transparency preparedness.

    Notably, 92% of executives have increased telehealth use, with 73% using it to better-engage patients and address consumer responsibility. Executives also cited financial counseling and payment plans (63%), as well as online portals for price estimates and payment (56%), as strategies to better-engage consumers.

    “With health system margins primarily driven by elective services, the pandemic is gravely impacting provider revenue streams and payer mix,” said Timothy E. Kinney, Guidehouse partner. “As our economy labors post-pandemic, insured patients will struggle to shoulder greater cost sharing through high-deductible plans coupled with volatile unemployment rates. Healthcare leaders need to closely evaluate their payer mix and develop winning consumer experience strategies to overcome a slow recovery in patient volumes and an uptick in self-pay and Medicaid enrollees.”

    Strategic Investments in Revenue Cycle IT Coupled with a Remote Workforce

    Guidehouse found that providers are planning for marked revenue cycle IT budget decreases. Over the next 12 months, compared with 2019 survey results:

    • 35% of executives cited their organization’s IT budgets will increase, down from 69%.
    • 27% of executives cited IT budget decreases, up from 5%.

    Collaboration with external entities, including vendor partnerships (37%) and outsourcing (32%), were the most often cited strategies for decreasing revenue cycle costs and increasing economies of scale, according to the survey. In addition, 27% of executives cited using advanced health IT, including robotic process automation.

    For the revenue cycle management workforce, almost 90% of providers have shifted to remote arrangements. Of those, nearly half have decided to continue with remote options and are reassessing future space-use needs. Moreover, only 12% of executives expect staff to return to pre-pandemic arrangements.

    “As the revenue cycle workforce goes remote and budgets tighten, health system leaders are evaluating strategic investments in vendor partnerships and outsourced services,” said Mary Beth Briscoe, FHFMA, FACHE, CPA, MBA, CMRP, a senior advisor to Guidehouse who formerly served as a health system CFO and HFMA national board chair. “While digital technologies will be a necessity post-COVID-19, they must be methodically selected to ensure they are unlocking long-term performance improvement opportunities.”

    Adaptation to Electronic Health Records

    As EHRs continue to mature, providers appear to be benefiting from their capabilities. However, only one-in-five executives cited a seamless transition with their EHR to using telehealth, which has been an essential component to engaging with patients during COVID-19. Among respondents, compared to 2019 survey results:

    • 42% cited EHR adoption benefits are outweighing challenges, up from 31%.
    • 68% cited they appropriately utilize available EHR functions, up from 59%.
    • 55% cited they quickly adapted to functional releases, up from 44%.

    Price Transparency Compliance Concerns

    Though the Centers for Medicare & Medicaid Services hospital price transparency rule is scheduled to go into effect on Jan. 1, 2021, only 12% of executives said their organizations are ready to comply, with one-third suggesting they are unprepared. Concerns about disclosing rates to payers, media, and consumers (38%), and lack of an analytics infrastructure (26%), are cited as the biggest obstacles for compliance.

    The survey analysis was provided by the Guidehouse Center for Health Insights, a source for the latest health research, trends, and best practices. With multiple Best in KLAS awards, the Guidehouse Health team helps hospitals and health systems, government agencies, life sciences companies, and payers strategically redesign, revitalize, and transform their operations.

    About Guidehouse

    Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation, and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in McLean, VA., the company has more than 8,000 professionals in more than 50 locations. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

    Media Contact

    Timothy E. Kinney

    Healthcare

    1.312.583.6866

     

    Posted 10.1.2020