A Quick Glance at Practice Management Software
Practice Management Systems come in robust software packages. They assist medical practices and RCM companies to ease repetitive tasks, and they improve efficiency through automation. Other functions include managing financials, administrative functions, and scheduling patients. Most small and medium-sized businesses leverage PM software to efficiently execute these functions.
Businesses can deploy practice management software in different forms. It can be downloadable like traditional software, but some modern applications function as client-server software or internet-based software, also referred to as cloud-based software. Cloud-based software is operable from any device with no required file download and only needs a consistent internet connection to function.
Some Primary Features of Practice Management Software
Effective practice management software can provide many useful features. These should be the basic functions included with the software.
- General Billing. – Your PM software will automate repetitive billing tasks. These include preparing statements, submitting claims, collecting payments, and sending electronic bills.
- Scheduling. – Creating, editing, and managing patients’ appointments is part of practice management.
- Insurance Verification. – Practice management software helps reduce medical billing errors, especially for claims. It offers important insights into patient eligibility. Most systems use physical card scanner interfaces to speed up the process —efficiency is at the heart of successful PM software.
- Reporting. – Practice management software assists with Medicare reimbursements, collecting and submitting the necessary data to remain eligible.
Shopping for New Practice Management Software: Mistakes to Avoid
Sometimes, instead of settling for what you have, you’re better off shopping for something new. Making this choice can affect your business for years and ultimately impact your relationship with your patients. Learn three common mistakes businesses make when seeking practice management software:
1. Not Focusing on the Fundamentals
It’s easy to get carried away by the frills of a shiny new PMS. The important mission at this point is to look for a solution to enhance your workplace efficiency. Before entering the practice management software market, create a list of important features. These might be pre-existing features that you already depend on, or new ones that will elevate your business.
Generally, you’ll want the following:
- Color-coded tagging to track claim statuses and data
- Automation of redundant billing tasks
- Compliant reporting tools offering real-time insights
2. Overlooking Tech Support
Building a positive relationship with your PMS vendor can go a long way in supporting your needs. When looking for a PM software, try to get a sense of their support team and learn how they answer your questions.
Your PM’s tech support should offer these features:
- Screenshots and step-by-step guides in their documentation
- Screen sharing to enhance collaboration
- Real-time options, such as phone support
3. Forgetting to Get a Personalized Demonstration
Every PMS has unique features. Getting a demo is the best way to ensure that the provided functions match your management style and business needs while also having the opportunity to test the software in real-time. Make sure you really get your hands dirty in the software, and don’t forget to ask questions.
Here are a few things to test during your demonstration:
- Ensure the system works on your clinic’s computers and mobile devices
- Determine whether it encrypts and stores your data
- Verify whether your PMS provider satisfies your queries
Tips to Transition to a Better Practice Management Software
Once you’ve found a PMS vendor that matches your needs, it might be time to transition. Here are several steps that will help streamline the process:
- Check out the PMS provider’s extra offerings. These can include automated appointment reminders, statement services, or patient payment portals.
- Speak with the vendor’s team to better understand the people behind the product.
- Ask how the practice management software receives updates. It will need to to keep up with regulatory changes to ensure up-to-date compliance.
- Find out whether the PM suite offers features that were designed to meet the needs of specific roles. Will front desk personnel be as successful as a billing expert?
Revenue cycle management companies and medical practices rely on a strong practice management software to handle billing, scheduling, insurance management, and reporting. Although PM systems are so important, there are a lot of common mistakes companies make when deciding on a PMS. Sometimes, consumers can get wrapped up in the “bells and whistles” of a new PMS, but it’s crucial to make business efficiency the top priority. It’s also essential to explore ongoing support options (tech support and software updates) based on the specific needs of the business. Finally, it’s helpful to explore the system before making a final commitment to ensure that you’re confident in your decision.