TAMPA, Fla., Nov. 8, 2016 /PRNewswire/ -- Today, Black Book Research announced Nuance Communications has been named the leading vendor for End-to-End Healthcare Coding, Clinical Documentation Improvement, Transcription and Speech Recognition Technology. The performance results emerge from the 2016 survey responses from 313 hospital and 2,005 physician practices.
Between April and October 2016, 3,107 revenue cycle and coding management professionals submitted user satisfaction responses. Black Book conducts polls and surveys with healthcare executives and front line users about their current technology and services partners and awards top-performing vendors based on performance based on 21 indicators of client experience, loyalty and customer satisfaction.
Seventy-nine percent of hospitals surveyed and 94% of physician practices report cutting transcription costs in half or more while improving the transparency of dictation and transcription processes within one year of implementing end-to-end coding, CDI and transcription software tools. Eighty-seven percent of providers realized operational efficiencies without impacting clinician workflows.
Eighty-one percent of hospital chief financial officers participating in the Black Book survey reported that comprehensive coding, CDI and transcription programs delivered among the most rapid return on all technology investments in 2016.
"Compared to other provider initiatives to execute organizational improvements in case mix index, physician engagement and reimbursement, end-to-end technology resulted in the most appropriate reimbursement increases at the fastest measured rates," said Doug Brown, Managing Partner of Black Book.
Black Book forecasts the medical transcription, clinical documentation and coding and speech recognition IT spending market to grow at a CAGR of 12.9% during the period 2016-2020.
About Black Book
Black Book™, its founders, management and staff do not own or hold any financial interest in any of the vendors covered and encompassed in the surveys it conducts including Nuance. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor notification of rating results and does not solicit vendor participation fees, review fees, inclusion or briefing charges, and/or vendor collaboration as Black Book polls vendors' clients.
Since 2000, Black Book™ has polled the vendor satisfaction across over thirty industries in the software/technology and managed services sectors around the globe. In 2009, Black Book began polling the client experience of now over 540,000 healthcare software and services users. Black Book expanded its survey prowess and reputation of independent, unbiased crowd-sourced surveying to IT and health records professionals, physician practice administrators, nurses, financial leaders, executives and hospital information technology managers. Users participated in the 2016 polls of coding, CDI, transcription and speech recognition client experience in a sweeping seven month set including eight separate studies.
Additionally, 1,500 provider respondents that have not yet fully implemented or optimally using coding, CDI and transcription technology provided insight on budgeting, adoption plans, factors driving coding and transcription decisions and vendor awareness.
For methodology, auditing, resources, comprehensive research and ranking data see www.blackbookmarketresearch.com
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SOURCE Black Book Market Research LLC