When the modern smartphone was first launched over 10 years ago, few people could have predicted its runaway success. Today’s smartphones are essentially pocket computers that have replaced multiple devices (music player, radio, video player, Internet device etc.) for consumers. Something similar is happening in the healthcare industry as well.
Practice management software started out as a fancy tool for managing billing and payments. Today’s applications have grown beyond that initial feature set. Today’s systems can help you manage all aspects of running your own practice – from payroll to cash flow management. The transition to electronic systems has not been easy for providers but the initial investment has paid off. Few clinics would prefer to go back to the old methods of paper files and manual workflows.
For one thing, older tools cannot keep up with the growing volume of work in a dental clinic. Can you even imagine handling the same amount of patients as you do today without a computer at hand? Practice management systems and EHRs have made it a lot easier for providers to manage documentation, patient records, schedule appointments etc. These electronic systems automate several tasks in a dental practice, saving time and money in the process.
PM Software Can Help You with Patient Information
Every clinic will have thousands of patient files and records. Each patient has their own medical history, payment history, insurance plan, deductible etc. Keeping track of all this information on paper is time-consuming and inefficient. With practice management systems, you can easily import documents and attach them to patient records. You can manage payments, billing and every other aspect of patient care in one place.
Keep Track of Billing and Payments
Your clinic will most likely have different fee schedules for various reasons. You might charge different rates for cash and credit payments. Or maybe you have separate processes for different insurance carriers. Most practice management systems integrate billing software so that all this information is presented together. Your receptionist doesn’t have to hunt down different files to find pertinent data for a particular patient. Hassle free billing processes make for quicker payments and better cash flows.
Manage your Staff with Practice Management Software
Practice management software can help you with more than your patients. Running your own clinic also means managing staff members and employees. Automate your daily or weekly activities like devising work schedules, keeping track of hours worked, payroll payments etc. HR activities like timecards, tracking vacation and sick days etc. can take up a lot of your time. Why not streamline these tasks so that you – and your staff – have more time for patients?
Integrate Practice Management with Patient Portals
Some practice management software products include patient portals while others are interoperable with third-party solutions. What this means is that you can move data between these two separate functions for efficient management. Automating tasks like scheduling appointments and patient communication can reduce stress on your staff.
Optimize Administrative and Financial Processes
Your practice management system will become a command center for your entire clinic. Dashboards, real-time reporting and analytics can all help you optimize various business workflows. The financial stability of your clinic requires more than correct coding and billing processes. See your financial performance, past trends and future projections with a single click. With real-time numbers at your fingertips, you can spot problems and make changes before they snowball into bigger issues.
Technology innovation is moving forward at a furious face in every industry. It is true for healthcare as well. Check out the latest practice management software today. You’ll be surprised at how much more efficient your practice can become tomorrow!