Different types of practice present different challenges.
In terms of maximizing innovation, productivity & profitability, Practice Pro has laid forth a set of common ground rules that will fit the needs and scale of any practice.
1. Save on using and managing paperwork
Practice Pro’s documentation is paperless and completely automated. That means you will consume less paper, ink and tonerand will save on office supply expenses, storage requirements, transcription costs and paying people to shuffle all that paperwork. Not to mention being more eco-friendly, because trees after all are pretty cool.
The return on investment in going paperless is enormous. For some practices, goingpaperless can pay for itself within weeks or months. Paper is extremely time-consuming because it requires a great deal of time and labor to organize, manage and retrieve. On average, office staff members spend anhour per month searching for and replacing paper files. If this sounds like your practice, goingpaperless could pay for itself within just one month.
Printing hard copies requires paper, toner, ink, the printers that print them and their maintenanceall of which you pay for. In mostpractices, going paperless can save $500 per staff memberper year. Copy machinesare expensive to buyand maintain. By going paperless with Practice Pro, your staff can access and edit a digital document then save it or email it in seconds. These documents can also be accessed simultaneously, eliminating the need for multiple copies. On average5% of all paper documents get lost or misfiled. A secure and backed up paperless environment, greatly minimizes the risk of losing or misplacing an electronic document.
Then consider if adisaster should occur. If your practicekeeps most of its information on paper, the threat of fire or water damage should be a serious concern. With Practice Pro, electronic patient recordsare safe in the cloud, while your paper documents can be destroyed permanentlyin the blink of an eye.
Paper files are bulkyand many therapypracticessacrifice valuable office space to housefile cabinets and boxes of paper documents. Practice Pro puts all this inthe Cloud, and can store millions of documents with automatic redundant backups. Searching fora patient filewhile apatientwaits on the phone is not efficient for them or you. With Practice Pro, patient recordscan be found instantly, which means your customer service greatlyimproves.
Then consider HIPAA. Paper documents are not as secure as you might think. Its pretty easyto accesspaper filesin an office, even if there are locks on doors or filing cabinets, they are usually not hard to break, and often papers are left on desks or can even be misplaced.The fine for a first time infringement by someone who did not know they violated HIPAA could be as high as $50,000.Practice Pro limits and tracks the ‘paper trail’ behind secure logins, and encrypted sessions.
2. Increase claim revenues
As many practice owners and therapists are aware, Medicare requires documentation for every item billed. This means clinicians only bill for those items for which they have written evidence. This practice deprives practices of up to 15 percent of their legitimate reimbursements each year. There is also the matter of downcodingwhen an insurer changes a medical code to a “less complex” (and therefore less expensive) one because they deem certain claims unnecessary or unsupported. Practice Pro’s EMR allows you to take control and set a standard for your documentation quality. Set charting requirements and enforce them across your organization- your Clinical Director will thank you!
3. Increase therapist efficiency
Spending less time documenting means more time with patients. More time with patients means more billable time, and improved patient satisfaction.
Consider freeing-up enough time to see two extra patients a day per therapist- that adds up. Using Practice Pro’scollection of productivity reports, you can not only analyze your current workload but also forecast your FTE needs in the future.