ROI from EHR systems can be achieved in two ways – by increasing revenues and by decreasing costs, both of which positively impact profit. The positive effects of EHR systems can be measured clearly in these four areas:
1. Improved productivity
Dentists quickly see improvements in back office and workflow productivity after implementing new software. Doctors, dental hygienists and admin staff are able to provide patient care in a more streamlined and efficient manner, enabling them to see a greater number of patients each day.
2. Shortened revenue cycle
An EHR that optimizes the process of filing claims and reduces paperwork greatly shortens the length of the revenue cycle. This is integral to the health of the dental practice as the gap between a patient’s visit and payment should be reduced as much as possible. Some EHRs can also be used to check the length of the revenue cycle and monitor changes as they appear. This can considerably affect the health of the dental practice.
3. Optimized billing
One of the greatest benefits of an EHR system is its ability to populate patient records quickly with relevant and accurate billing codes. EHR software can make the billing process seamless, allowing dentists to bill payers in a quicker and more efficient manner while decreasing the possibility of errors.
4. Improved efficiency in non-patient related workflows
Many doctors spend too much of their valuable time filing patient records, filling out clinical notes and doing paperwork. Quality EHR software reduces the time spent on these task and frees up time that can be used more efficiently by guiding the user through an efficient workflow process. Done well, this can increase ROI significantly, and reduce the stress and extra time we dentists spend in the office.
What tools do you use to monitor ROI in your practice? Leave a comment, I look forward to hearing from you!
– Dr. Pietro Di Battista
Dr. Pietro Di Battista, Dovetail Founder & Chief Executive Officer, runs a successful private periodontics practice, and is a senior lecturer at different dental venues, study clubs and professional conferences. Pietro has served as Director of Clinical Periodontology at McGill University. He holds a Bachelor’s degree in Biochemistry from Concordia University, and a D.D.S. and a M.S.D. from Case Western Reserve University. His hobbies include hockey and mixed martial arts.