Medical practice management is essential for small to large physician and group practices whose administrative tasks include transcribing patient and treatment notes and inputting patient data. Additionally, staff members must review the authorization process, check insurance eligibility, and process medical bills.
And then there’s all the admin work that orthopedic doctors have to complete for every patient they see. When you add that time up, it amounts to a significant overhead, meaning doctors don’t see as many patients daily.
But with some targeted business process changes, you can increase your productivity levels and care for more patients.
5 Medical Practice Management Tips To Implement Right Now
To help your medical practice become more successful, you should implement a strategic plan to improve the efficiency of your clinic. And these five medical practice management tips will go a long way toward becoming more efficient.
1 – Remote Medical Scribing Requirements
Medical practice management involves time-consuming administrative work for each patient. Every patient interaction must be recorded, and doctors must keep meticulous records of all their interactions.
From keeping notes on symptoms to documenting post-surgical recovery progress, you have to document a lot of information.
And this takes time that physicians could be spending with their patients.
By taking advantage of Virtual medical scribing and medical transcription services, doctors will have more time to concentrate on patient care.
Here at DataMatrix, we have fully trained and experienced medical scribes who support medical practices and ensure they follow Electronic Health Record regulations.
As patients expect 100% attention from healthcare providers, they will be more satisfied with the attention the doctor pays to them rather than them taking notes during the appointment.
And with a virtual medical scribe, you’ll be provided with all the benefits without patients feeling self-conscious at another person being present.
2 – Implement Efficient Prior Authorization Processes
The prior authorization process is one of the most common issues a medical practice manager faces. As this process is necessary for them to dispense specific medications or perform a test for their patients, it’s essential that it is appropriately implemented.
If prior authorization is not implemented correctly, it could require many frustrating phone calls and take up to a few weeks to resolve. Not only does that make it frustrating for your admin staff, but your patients will suffer as a result too.
To make the process easier and to ensure claims will be reimbursed faster, your healthcare practice should take advantage of our expert prior authorization services. DataMatrix offers a prior authorization service with 24/7 capabilities.
These professional services make the authorization process easier and faster resulting in fewer delays in patient treatment. They help doctors and admin staff understand why an authorization may not be approved, which allows them to anticipate and avoid these issues.
This process can also reduce stressful situations in the medical practice as there is less paperwork involved in daily operations, which means more time for patients.
3 – Achieve detailed Insurance Eligibility Verification
To avoid patient complaints relating to insurance coverage, you should consider hiring a professional insurance verification service. Such services deal with the insurance company before the patient’s appointment, so when patients arrive, they can be confident about what costs for treatment or medication will be covered by their insurance.
Additionally, using this service, it will reduce the time you spend on the phone when the insurance company needs further information on a patient’s claim. As you won’t have to deal with the insurance company contacting you regarding claims processing, you’ll have more time to give each patient 100% attention.
You’ll also find that the number of claims that get approved will increase as you become more aware of what you can prescribe. And medical organizations with a high rate of approved claims can expect the number of new patients to grow. This increase will then lead to your medical practice generating more revenue.
Statista states revenue is expected to show an annual growth rate (CAGR 2023-2027) of 12.90%, resulting in a projected market volume of US$27.67bn by 2027. Will your practice be ready?
4 – Focus On The Patient Experience
Ensuring patients’ satisfaction in your medical practice involves training staff to work in a friendly manner and to train them to keep all records up-to-date. Staff should ensure they are aware of patient background details and accurately transcribe conversations between the doctor and patient.
But many physicians write their own treatment and progress notes during an appointment, which means that the patient is not getting the doctor’s full attention. This can be avoided by hiring an off-site medical transcription service to type notes after the visit and entering it into practice management software.
There will be more time for interaction between the doctor and the patient, resulting in a positive and improved patient experience.
5 – Use Custom Medical Practice Service Provider
Rather than hiring a costly practice management consultant to help improve your practice by implementing changes, you should consider using a custom service provider.
Many clinics still have a fragmented system that consists of software solutions from multiple vendors. This can make business processes more complex and time-consuming than they need to be and creates a significant admin overhead.
With a fully customized service provider for everything from recording patient records and handling authorization requests, insurance verification, and document indexing, you’ll streamline your practice management and make your staff a lot more efficient.
Find Out More About How DataMatrix Can Help You Become More Efficient
Here at DataMatrix, we have built specialized teams that will help you with some of the most time-consuming business processes that every medical clinic faces on a daily basis.
We provide services for medical scribing and transcription, and with our prior authorization and medical insurance eligibility verification, you can significantly speed up how soon you can treat patients and get paid for your services.
You will be able to bring your medical practice management efficiency to a level that will make you more competitive and patient-friendly, as you won’t have all those administrative overheads to deal with.