In the service industry, Medical practices are the most difficult to manage due to the huge paper-based record-keeping baggage that comes with it. Not only is it difficult to stay up-to-date on a wide array of things, but the complexity and volume of things to stay on top keeps increasing as the practice starts growing. Technology, can to a large extent help with the billing and scheduling requirements of running a medical practice with the help of medical practice software.
Medical practice management software (PMS) is an attempt to streamline the entire process of running a medical practice. PMS can help with scheduling, cost cutting, reduce inefficiencies, resolving ambiguities when it comes to insurance coverage, making billing generally easier to track, and providing a more personalized healthcare experience. The biggest advantage over paper-based administration records is that, you can easily search through the information that is recorded.
PMS solutions help improve patient-doctor relationships. Doctors can now freely focus on their medical practice without troubleshooting the business part of their practice. Let us look at a few instances were PMS can save a lot of time and money for a medical practice and also improve the patient experience.
1. The receptionist or insurance personnel will be able to access the patient’s insurance information instantaneously by scanning their insurance card.
2. Most of the time, patients are not aware if they have enough coverage for the treatment due to the complexity of language in insurance policies. Since patients are likely to be in a distressing mindset, the situation can be a frustrating experience for everyone concerned. With the help of a PMS solution, you will be able to verify it electronically in a matter of seconds.
3. Patients can have difficulty grasping not only the coverage terms but also their policy’s Explanation of Benefits. It’s quite a process to calculate how much a patient owes to the hospital after whatever the insurance will cover. A PMS system will help you by identifying the open balance and the receptionist will be able to convey the same to the patient.
4. The difficulty with decoding insurance is not only for the patients, but also for the doctors. It’s difficult for a medical professional to take a decision without the information they need about the policies. A doctor will be able to figure out if an insurance policy will cover a procedure before ordering it in a matter of seconds.
5. Resubmitting insurance claims can be considered to be one of the most frustrating and time-consuming tasks for the staff. This inefficiency leads to a loss of money and time. PMS solves this with the help of automated claim re-submission.
The three major benefits of employing Medical Practice Management Software are improved operations, easy record access and improved billing procedures. Let us look in detail about what these entail.
1. Improved operations.
Running a medical practice from an administrative point of view, becomes a lot easier, as the software provides an overall picture of the practice from an everyday perspective. With the software, patient appointments, staff reports, list of tasks to be done can be tracked easily.
2. Easier record access.
Paper based records take up a lot of storage space and are difficult to maintain as well. With the software, we can easily search for all the records in just a few clicks. Patient history, insurance and billing data and other information can be digitised and accessed in a jiffy.
3. Improved billing process.
Billing in a medical practice is a difficult task, mainly because of insurance coverage complexities. PMS improves the efficiency when it comes to figuring out the percentage of bill that is covered in insurance and the percentage owed by the patient.
In conclusion, this centralised approach makes it much easier for medical practices to provide empathetic patient treatment and avoiding all the complexities of managing a busy office. It makes the daily operations of a medical practice a lot easier to manage.
I hope this article was helpful to you. If you have any queries or suggestions, please let us know through the comments section and we will be more than happy to help you out with your queries and implement your suggestions.
