The high cost of running a practice, the increased wave of patients along with a tsunami of government regulations have put enormous pressure on the private physician. Helping physicians stay in private practice, meet regulatory standards and provide state-of-the-art healthcare is the primary mission here at AdvancedMD where we serve more than 5,000 private practices nationwide and process more than 34 Million annually. Today, we are paying tribute to the independent physicians who continue to service their communities despite the obstacles.
Most practices have formal processes in place to improve staff productivity and revenue capture. Yet one of the most overlooked, and quite possibly your lowest hanging fruit, is fixing your fax problem. Yes, you can say this out loud: “I have a fax problem!”.
Private physician practices have MU2 measures that give them the opportunity to help build their practice, not just achieve some certification checkbox. With the recent delay announcement, focusing on a few key areas can allow the practice to increase care quality as well as revenue while positioning the practice to be in a better place to qualify for MU.
For example, embracing portals for communication and reminders can help close the loop for increasing follow-up visits for better care and revenue generation. Patient population reporting can help a practice get a better handle on reimbursement and more normalized cash flow by applying that knowledge to the schedule. Understanding the data that a physician practice has just by using the technology can help them participate in other incentive programs and increase revenue. Below are three improvement opportunities that practices can start today as they prepare for MU Stage 2.
Good financial reporting will not magically deliver the budget or staff resources of large healthcare organizations, but it will provide tools to uncover financial opportunities and implement profitable change.
This busy, one-provider pain management facility sought an all-in-one solution to practice management and EHR. Bogged down by outdated protocols and systems, they sought a modern, efficient answer to managing billing, scheduling, health records, and staffing concerns. The Pain Care Center chose AdvancedMD for its leading EHR, easy-to-learn interface, comprehensive features, and superior customizability.
Alright, we have all heard the hype about he cloud. It’s supposed to solve all of our problems, make us more efficient, and ultimately make us more money. But these promises aren’t just high-tech marketing plugs. Using the cloud for your practice management and EHR software has tangible results. Here are three.
After their software provider was sold off to a large corporation, this medical billing service and consulting firm was in need of an integrated solution that would meet their own needs as well as their clients. They selected AdvancedMD for it’s superior practice management features, such as scheduling, on the client side as well as for sophisticated billing and world-class financial reporting capabilities. They found no other provider who could meet the revenue management capabilities of the AdvancedInsight from AdvancedMD.