At Power Your Practice, we’re constantly applauding the numerous benefits practice management systems provide to medical practices. Not only do they improve revenue cycles with features like payer rules intelligence, but also streamline operations and promote engagement through patient portals.
That being said, the true power of PM systems may reside in their reporting abilities. Generating reports on practice operations can reveal performance trends and highlight areas that need improvement. But when it comes to reporting, not all PM systems are created equal.
Even if your practice is not participating in Meaningful Use, there are many reasons to implement EHR software and start using a patient portal to connect with your patients – the biggest reason being the positive impact these technologies can have on patient care.
Whether or not you are concerned with some of the other purported EHR benefits, namely increased productivity and reduced costs, you should consider adopting electronic charting software for the sake of your patients.
When you hear the term ‘outsourcing’ used in conjunction with medical practices, what comes to mind? Probably billing, and there are good reasons why. Many providers have found outsourced medical billing to be an effective way of streamlining operations and securing better reimbursements.
But billing shouldn’t be the only term linked to outsourcing. There are other common tasks providers can outsource that will help save money, eliminate tedious administrative duties or both.
If you thought this would be the year securing patient data would finally become easier, you may be in for an unpleasant surprise. A recent Experian report predicts the healthcare industry will see more large-scale security breaches affecting patient privacy in 2014.
According to Michael Bruemmer, Vice President of Experian’s Data Breach Resolution, the sheer size of the healthcare industry is what makes it vulnerable to security risks.
We’re feeling chilly here at Power Your Practice HQ. It dipped all the way down to 50 degrees in Miami last night, which is downright Arctic for a city whose natives have no clue what long johns are.
And when it’s cold outside, is there anything better than settling down in front of a keyboard and keeping your fingers warm cranking out informative articles on health IT and practice management? Well, of course not.
Although CMS recently announced its intention to extend deadlines for both Meaningful Use Stages 2 and 3, industry analysts expect the number of practices opting out of the EHR program to continue rising. It seems the financial burden of MU attestation is too much for physicians to carry.
Because the penalty for not meeting Stage 2’s stringent requirements is minimal in comparison to the initial investment required for successful attestation, many physicians are choosing to not move forward into the next phase of the program. Not to mention, the bulk of MU’s incentive payments occur during Stage 1 – a goal many practices have already accomplished.