RevSpring, CarePayment, and Knowtion Health Recognized for Excellence in Patient Financial Technologies in Rankings Announced Today at HFMA ANI Conference
DENVER, COLORADO / ACCESS Newswire / June 23, 2025 / Black Book Research, the healthcare industry's leading independent technology survey firm, today published the results of its 2025 evaluation of Patient Financial Engagement Software Solutions. Released in conjunction with the HFMA Annual National Institute (ANI) conference, the rankings highlight the top-performing vendors across three core categories: Patient Billing and Statement Tools, Patient Financing Solutions, and Collections Optimization Technologies.
Based on direct input from 11,550 healthcare finance professionals, revenue cycle leaders, and patient access administrators, the rankings reflect broad industry demand for digital tools that improve financial transparency, drive collections performance, and enhance the overall patient financial experience.
Amid rising out-of-pocket costs and consumer expectations, providers are accelerating their investments in patient-centered revenue cycle tools. According to the 2025 survey, 84% of healthcare organizations launched major initiatives over the past 18 months to modernize patient billing and collections processes. An additional 78% of respondents said that financial clarity is now a leading driver of patient satisfaction, up from 61% just two years ago.
Top-Rated 2025 Vendors in Patient Financial Engagement Solutions
Patient Billing and Statement Tools
RevSpring
RevSpring earned the highest satisfaction ratings for statement design clarity, personalized messaging, and intelligent multi-channel communication. Leveraging behavioral analytics and dynamic engagement strategies, RevSpring enables providers to increase self-pay collections while reducing confusion and administrative burden. Its scalable platform is widely adopted across enterprise health systems, regional hospitals, and physician networks.
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Patient Financing Solutions
CarePayment
CarePayment was named the top vendor for patient financing programs, recognized for its interest-free payment models, seamless integration, and strong patient adoption. Provider clients reported measurable reductions in bad debt and improved patient access, particularly in high-deductible and underinsured populations.
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Collections Optimization Technologies (Inpatient & Ambulatory Settings)
Knowtion Health
Knowtion Health leads the field in intelligent collections optimization, offering AI-driven segmentation, automated workflows, and customizable engagement strategies. Organizations cited its ability to boost recovery rates on aging accounts while reducing manual interventions and improving staff efficiency.
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"Patient financial engagement has emerged as a critical differentiator in an era where financial transparency, consumer trust, and revenue integrity are tightly interwoven," said Doug Brown, Founder and President of Black Book Research. "RevSpring, CarePayment, and Knowtion Health have consistently ranked #1 in their respective categories in prior Black Book surveys, demonstrating not only exceptional client satisfaction but sustained performance across both foundational and newly enhanced revenue cycle KPIs. Their longevity reflects deep alignment with evolving patient expectations and provider financial goals."
Additional 2025 survey findings include:
59% of responding providers upgraded or replaced patient billing and engagement tools within the past 24 months.
64% of large health systems now offer personalized financing options to mitigate rising out-of-pocket costs.
Organizations using patient financial engagement tools reported an average 20% improvement in self-pay collections performance year-over-year.
About the Survey Methodology
Black Book's annual revenue cycle survey uses 18 key performance indicators (KPIs) to evaluate vendor performance, including user satisfaction, innovation, ROI, automation, integration, and patient impact. The survey process is vendor-agnostic and does not accept vendor sponsorship, ensuring that all rankings reflect verified user feedback and operational outcomes.
About Black Book Research
Black Book Research is an independent healthcare market research and advisory firm, recognized for its rigorous crowd-sourced evaluations of healthcare IT, financial systems, and managed services. Since 2000, Black Book has polled over 3.3 million healthcare professionals to provide transparent, unbiased insight into vendor performance. For more information, visit www.blackbookmarketresearch.com or contact research@blackbookmarketresearch.com for media inquiries and or competitive analysis licensing options.
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SOURCE: Black Book Research
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