The advent of value-based healthcare has created a need for review and improvement in how healthcare facilities manage their finances. Adopting an integrated electronic medical record EMR and PMS practice management system will provide many benefits to your business, including greater profitability through better reporting capabilities.
The healthcare industry is currently undergoing a major shift from fee-for-service to value-based payment models. The question on everyone’s mind seems straightforward enough – do you have the technology necessary for this change? Do you integrate EHR? What about your revenue cycle management (RCM)?
An Updated Integrated EHR And Practice Management System Is Need Of An Hour
To thrive in a world where value-based care is the new standard, you must have an up-to-date and efficient record-keeping system. With all of these changes happening within our healthcare industry, it’s more important than ever that we stay on top of things. So when something goes wrong with either one patient or us, there won’t be any time trying to figure out what happened because they will already know how everything works at this point!
When looking for a way to improve your RCM, one of the best solutions is adopting an integrated electronic health record (EHR) and practice management system that provides seamless communication between the financial side of things like billing or insurance processing with medical information. An EHR/PMS will help promote interoperability which means there’s less work needed on behalf of our team members because they can easily see what other departments have done regarding their specific tasks without having multiple databases opened up at once–which also makes things more efficient!
Here are some reasons to choose an integrated EHR and medical practice management systems for your healthcare facility:
Accelerated Claims Processing
An integrated system ensures accurate information has conveyed both ways, which is essential for claims processing. Claimants need thorough and detailed input so they can receive acceptance upon filing. Any error in this process will lead to rejection outright without consideration given by billers who may be accessing medical records directly instead of contacting doctors. On either end due to stress caused when dealing with sensitive matters like illness or injury while also trying their best not miss anything important during such transactions as well as preserving necessary documentation thereof since things often don’t always go according what was planned – even if there were no errors committed against anyone involved!
The Provider’s Transparency
Integrated EHR in small practices allow doctors to view their financials in one place, which they would otherwise be unable to see without an integrated solution. Providers who contract with third-party billers are left blind and await payment while also being at risk of not knowing how much money is owed or when it will come again. All because of the lack of access that AR has been granted! With this type of software implemented into existing practices (and even new ones), providers can check at any time if there’s anything worth noting about your health care provider profile, such as balances due on accounts receivable from past services rendered; weather changes resulting from illness etcetera., giving them peace both mind.
Efficient and Time-Saving Information Submission
Provider Information Logging (PIL) solutions can help providers save time and enhance their productivity by automating paperwork. Submitting information for claims is a tedious process that takes up valuable hours in your day. Still, with an integrated EHR solution, you don’t have to worry about it anymore because all records will be automatically updated from the moment they’re inputted into the computer! Not only does this reduce errors associated with manually entered data—which often happens when handwriting or other signatures aren’t legible enough–but it also makes sure no one has trouble reading what’s being submitted due solely to its deterioration over the years past.
Conclusion
A perfect practice management system with an integrated EHR solution is the key to elevating your healthcare revenues. There are any benefits to it that we have mentioned above. GreenSense Billing offers the best practice management software to help you handle your clinic’s administrative tasks. Feel free to contact us for consultancy and get your revenues to spike up effortlessly.
