Improving the ROI of Your EHR: Choose an EHR That Boosts Profits — Pt. 2
Last week, my colleague, Salvador Lopez, revealed why EHRs with high usability and the ability to chart and task yield the greatest ROI. However, these aren’t the only attributes necessary when looking to get the most from your EHR investment. In the second installment of our ROI of EHR whitepaper series, we take a look […]
How Practice Management Systems Help Doctors Overcome Hurdles to Profitability
Medical practices across the United States are struggling to see profits. It’s no wonder news sites are quick to pump out predictions about the decline of small private practices. In a joint survey by QuantiaMD and CareCloud, 5,012 U.S.-based physicians were asked to identify the factors negatively impacting their profitability in the coming year. Declining […]
3 Tips for Handling the ACA Patient Influx
The incoming 32 million patients entering the healthcare system in 2014 due to the Affordable Care Act (ACA) should be a reason for physicians to rejoice. After all, more patients should mean more money for practices, right? Unfortunately, many physicians aren’t ready to reap the rewards of a patient increase. About 48% of physicians lack […]
Weekly Checkup: June 3-7
It’s been a dreary week at PYP headquarters with some of the outer effects of Tropical Storm Andrea making their way down to South Florida. It’s all right though. Rain or shine, we’re going to continue delivering content that helps improve your practice. This week had a little something for everybody. We showed plenty of […]
The Physician’s ICD-10 Resource Guide
Worried about the upcoming switch from ICD-9 to ICD-10? You’re not alone. With the number of diagnosis and procedure codes jumping from 17,000 to 141,000, many physician practices are scrambling to implement the new classification system before the October 1, 2014 deadline.
Improving the ROI of Your EHR: Choose an EHR that Boosts Profits – Pt. 1
Achieving a ROI on technology investments can be difficult – and even more so in the case of Electronic Health Record (EHR) software. In other words, 73% of those surveyed failed to see a ROI. The financial implications of EHRs are about more than Meaningful Use (MU) checks, after all.
2 Quick Fixes for a Common Insurance Claim Denial
One of the most common reasons for claim denials given by payers is that a patient lacks insurance coverage or has had their coverage terminated. When receiving this particular claim denial, all options need to be exhausted by the provider to determine if a clean claim can be resubmitted, so payment can be collected. Luckily, […]
Applying Lean RCM Concepts To Your Practice
To keep bottom lines healthy, organizations are turning to a process called lean revenue cycle management. John Gallagher, account manager of Simpler Consulting, helps organizations utilize this efficient form of management.
3 Reasons Why Cardiologists Are Making Less Money
Over the past decade, we’ve all become weary of economic recovery. Unfulfilled government promises, dismal financial forecasts and a sluggish buyer’s market have slowed the country’s fiscal revival and left business owners gasping for air. But few have felt more pressure than medical practice owners. According to last month’s Practice Profitability Index, 49% of cardiologists […]
Why Solo Practitioners Have the Most to Gain from Cloud-Based EHRs
With the recent announcement that more than half of eligible professionals have received incentive payments for attesting to Meaningful Use, it may seem the healthcare industry is truly embracing EHRs. Yet, a closer look reveals not everyone is jumping on the EHR bandwagon. According to the Deloitte Center for Health Solutions, only 31% of solo […]