In today’s ever-changing healthcare reimbursement landscape, selecting a robust electronic practice management system (PMS) is key to improving workflow throughout the clinic and maximizing reimbursement potential. Selecting a PMS that integrates with your EHR provides a seamless workflow between both systems.
From appointment scheduling to billing and claim management, a robust PMS can reduce administrative tasks and help providers focus on patient care rather than billing operations. A practice management system can simplify the way providers do business, allowing them to improve cash flow, increase appointments, automate essential tasks, and transition to a paperless practice.
Basic Components of a Practice Management System Include:
- Appointment Scheduling: A scheduling component allows providers and staff to quickly book and schedule appointments. It enables real-time monitoring of each provider’s availability across multiple facilities, which allows them to instantly identify potential scheduling conflicts and availability for specific appointment types. Additionally, text or email appointment reminders can be sent to patients, helping to reduce no-shows and cancellations, ensuring patients keep appointments and increasing revenue opportunities for the practice..
- Patient Demographics Capture and Updates: A practice management system allows for clean entry of patient demographics and insurance information and permits easy updates to that information. Capturing patient demographic information as accurately as possible in the PMS is critical to successful reimbursement by payers because payers will reconcile the patient demographics they have on file with those entered into the PMS.
- Claims Management: A PMS system creates electronic claims from captured charges and sends claims to the clearinghouse for transmission to payers. Many practice management systems have built-in claims edits to ensure that claims are billed as accurately as possible the first time to help ensure maximum reimbursement as quickly as possible.
Benefits of a Practice Management System for Providers Include:
- Clearer documentation of patient demographics resulting in fewer claims errors and denials
- Improved scheduling processes that can reduce no-shows and cancellations
- Improved billing processes such as eliminating manual charge and payment entry
- Electronic submission of claims to speed up the claims adjudication process and reduce time in A/R
- Reduction of administrative tasks so providers can focus on quality of care
Moving from a paper-based management system to an electronic practice management system can improve efficiencies throughout the practice, leading to greater efficiencies and maximum reimbursement potential for practices of all sizes. Learn more about how iPatientCare’s practice management system can help your practice achieve your revenue goals today.
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