Finding the best practice management systems is critical for people in the healthcare space, including doctors, nurses, and individuals in the ambulatory healthcare business. Indeed, finding a good practice management system can be critical for a healthcare business of any size, but even more so for medium and larger-sized practices, who must take advantage of every efficiency these systems have to offer.
What Should the Best Practice Management System Have?
When done right, a good practice management system can capture a slew of useful data that can improve your practice and the ultimate outcomes of your patients. Indeed, a robust PM system can increase efficiencies, reduce staff time on routine tasks, and allow you to better deploy staff resources more efficiently. Even though many practices need a different type of practice management system. There are some qualities that virtually every practice will need. These include:
- The ability to create reports based on your needs, including unbilled appointments, total revenue, and productivity.
- The ability to connect into your already existing electronic health record (EHR), allowing you easy access to information about a patient, including coding and medical records.
- Complex claim edit libraries that allow you to build your payer business logic into them to avoid denials.
- An automated processor that allows redundant or performance impacting tasks to be run afterhours.
- Billing functions, including integration with your accounting general ledger software and the ability to send refunds.
- Maintaining vital contact information and integrating with the entire system to create practice-wide demographic updates.
- Analytics or business intelligence software to connect.
- Appointment scheduling with complex business logic built in.
- Technical support and training modules.
Every PM system should also have free, no-obligation demos that will allow you to understand better what the system has to offer and how easy it is to manage. These systems should also have a point of contact that can demo to all key stakeholders in order for them to get a quality understanding of the product.
What Sort of Impact Can a Practice Management System Have on My Practice?
It needs to be understood that an efficient practice management system can significantly impact your practice. Keep in mind that this hasn’t been determined simply by a few anecdotal reports or by “studies” organized by the creators of PM software. Research within the field has found that high-quality practice management systems can have a major impact on your practice and the quality of care you provide to your patients. According to an overview from Grand View Research, practice management systems are poised to continue to show major growth in the health care sector. The growth in practice management systems comes as a result of an explosion in their usefulness and features. The trend is accelerating as more and more practices—even older ones that had been resistant to a switch to the use of practice management software—begin to reliant and use the systems. Furthermore, an important shift is continuing to accelerate: Practice management systems are generating more revenue by expanding services and upgrading already existing systems. Why is this important? Because it shows the industry trends and how those trends can impact your practice. These systems are becoming more useful by finding ways to automate more, reduce denials, and increase receivables.
Cloud-Based Systems and Mobile Management
More systems are now becoming cloud-based, meaning they can be accessed by staff that isn’t physically located in the office at that particular moment. This flexibility and increased access are exceptionally important, as they allow authorized individuals to access a patient’s files and make adjustments from there. In an era of COVID-19, this is very important. Many practices kept non-essential administrative staff out of the office to reduce the spread of the disease, which strained IT and PM systems. However, if the practice management system were cloud-based, staff would be able to access the information without trouble. As a result, essential functions of patient care—including patient scheduling and medical billing—could be carried out remotely. Similarly, some practice management systems are now mobile-based, which can be accessed from a tablet or other mobile PC. The mobile-based nature of these systems allows medical staff to directly access the software with patients to share things copays, deductibles, and past due balances. Thanks to this mobility, collecting patient payments has never been easier.
Where Can I Find Personalized Information on Practice Management Systems?
Practice management systems are vitally important to the success of your practice. You must fully understand what they are, what they aren’t, and how they can help you. At TempDev, we’re proud of the help we have given to various businesses, helping them find innovative solutions and leveraging technology to improve their practice, overall efficiency, and customer service. Our goal is to help you fulfill your true potential. Interested in learning more? Schedule a consultation today.