The Mechanics of Keeping Your Patients Part 1
Operating a private healthcare practice in today’s environment presents many challenges. Shrinking insurance reimbursements, changing regulations, rising business costs, can all feel like barriers to success. Over the last few years, there has been a shift towards attracting private pay patients with the advent of Concierge Medicine, MediSpas, and various complementing services that doctors are pushing in their practice to increase revenue.
What does it take to have a successful medical practice today? Most physicians rely on referrals for getting new patients, as their marketing budget is limited to social media channels and patient referrals. But spreading the word about your business without building an infrastructure within the operations is a recipe for mediocrity. What does that mean? It means that without having systems and procedures in place, patients will constantly be falling through the cracks. But the right “point of care tools” can not only save your practice, they can take it to the next level.
Every medical practice or small business for that matter needs a starting place when building out its infrastructure. With the advent of Obamacare, many practice management software systems have been designed to help automate your operating system along with integrating your PM system with Electronic Health Records.
Integrated platforms that are more user friendly, while both comprehensive in their features and functionality, are vital to success in a very competitive medical industry. But beware, you ultimately will get what you pay for. Doctors usually are more familiar with their EMR needs and functionality than they are about the needs on the Practice Management side. Keep in mind that while you may be providing high quality care, you may not be able to collect what you’re due if your Practice Management system or Staff doesn’t have the ability to track the right metrics. You should also consider outsourcing your Billing & Collections as your best bet in getting your receivables paid.
Practice management software keeps the medical office running smoothly, and the wrong package can wreak havoc with billing, scheduling, and other essential business processes. A closer look at KLAS’ top-ranked systems will help you choose the one that best fits your practice. Next week we will cover the top five Practice Management software systems for medical practices.