Many billing companies till date have not adopted to the Electronic Health Records(EHR) and Practice Management (PM) systems. Although they are generating ROIs on a regular basis through their standalone tools, they are not able to utilize the full capacity of earnings as they are missing out on a lot of good stuff that EHR and PM brings.
Let us take a look at few benefits of EHR and PM solutions:
1. Transcription Process
The techniques that still employ traditional dictation and transcription models are losing out on cost saving and efficiency related opportunities. EHR automates a lot of the documentation process thereby increasing efficiency of work as well as saves cost on hiring additional workforce that would be doing the manual documentation otherwise.
2. Coding Process
Manual coding takes up time, money and resources that can be utilized elsewhere. EHR automation helps in reducing manual errors and optimizes the process there by saving time, money and increasing efficiency rate.
3. Scheduling and Follow Up Process
Scheduling and Follow ups take a lot of effort when maintaining on a standalone system or being done manually. There is often a large room for errors and miscommunication. Integrating EHR and PM system benefits a lot as they are automate systems that reduce the effort of recording appointments as well as reducing calculation and setting errors.
4. Billing Process
In this age of information and rapidly depleting natural resources, everyone must spare a thought towards self efficiency as well ass conservation of natural habitat. Think of the amount of papers required to keep records and print bills and calculations for each patient. EHR and automatic billing process helps conserve the excessive use of paper as well as reduces manual labor and error thereby increasing productivity and efficiency. Also, it saves a lot of cost when it comes to salaries and overheads that a manual billing and recording process entails.
A state-of-the-art EHR provides a variety of electronic options, right from the scratch. You receive improved security, quicker turnaround, and improved patient welfare alongside having access to everything in one place.
The standalone traditional billing and records system still hold a lot of potential but sooner than later they would become obsolete. There is simply too much that goes into the working process behind the traditional methods and the ROI on them isn’t as worthy enough as compared to the EHR and PM system.
Therefore it is recommended that the medical revenue cycle companies adopt and upgrade to these latest systems as these offer more features and improves overall work accuracy. Not only that, it helps save a lot of cost and infrastructure and essentially improves the ROI which is the ultimate goal of a company.