Features that Make Practice Management System, Top Notch

It is important for a medic to spend more time with the patients and do not worry much about administrative jobs. In this tech- friendly world, where software has made the lives of the people easy, there is also a software to take care of all the medical admin work, so that a doctor can put the best foot forward, when he/ she does what is the most important job, and that is to treat patients.

There are some features that are essential in a practice management software, and this blog will make help you understand these features.

It Should Ease Online Scheduling

Smoother practice management improves the experience of your patients and staff’. Online scheduling eases the burden of calling patients and reminding them of their appointment. Having an online calendar on the website makes scheduling easier.

Payments Made Easier

Payment collection should not become a cause of headache. The software should allow a transaction at any point of an encounter, collect payments by card swapping, and accept payments on mobile devices.

After the transaction, the software should save that credit card on file. This can save you more time on the next appointment.

 Profiling of Appointments

With appointment profile templates, it is possible to find the total time of an appointment. This optimizes schedule by guaranteeing you good time management. It is possible to customize how much time to slot for the appointment, and what forms should be filled out before each visit.

Providing Instant Eligibility Checks

If one banks on manual insurance checks, it can decrease the pace of the administrative procedure. Instead of the staff making phone calls for each patient, look for software that can do that for every appointment. This should allow to easily check a patient’s insurance details and co-insurance. Some treatments need pre-approval, so the software should give instant access to insurance firms.

By adding any consent forms to the software, the use of paper can be decreased. If your platform is functional on mobile devices, it allows patients to add their insurance info using the camera of the device.

All the developers are trying to upgrade the software and incorporate all these features and much more into the platform. For easing the experience of both, patients and doctors, the demand for patient management systems is on the rise, and will reach a value of USD 25,320.7 million by 2030.

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How Practice Management Systems Market Growth Mirrors Rapid Electric Health Record Adoption?

In February 2009, the U.S. government passed the Health Information Technology for Economic and Clinical Health (HITECH) Act to encourage the adoption of electronic health records (EHR). Similarly, the EHR standards were launched by Government of India in 2013 and amended in 2016. EHRs are electronic versions of patient records, which can include their prescriptions, doctor visit schedules, diagnosis summary, lab and imaging results, and insurance and medical billing information. The rising implementation of EHRs has given rise to a new occupation: practice management.

Thus, with the rapid digitization of the healthcare sector, the practice management systems market size is expected to witness a robust increase in its revenue, from $9.3 billion revenue in 2017 to $16.0 billion by 2023, at a 9.7% CAGR during 2018–2023 (forecast period). A practice manager looks after all the administrative and financial functions of a clinic or hospital, such as medical billing, governance, transcription utilization, essential supplies procurement, staff hiring, personnel policy and benefits management, regulatory compliance management, and service marketing.

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Practice management systems, which help in accomplishing the above-mentioned tasks, are available as standalone and integrate systems. Of these, the integrated variants had been more preferred till 2017, as they offer a single interface for all tasks. This improves the administrative and clinical efficiency and allows doctors and other healthcare professionals to engage with patients better, which ultimately results in an enhanced level of care at optimal costs. As the increase in the cost of medical services is a concern everywhere, the adoption of practice management systems is increasing.

Around the world, North America was the largest practice management systems market in 2017, as several companies here offer health information technology solutions and the fact that the documentation process here is being swiftly digitized. Asia-Pacific (APAC) would observe the fastest integration of these systems in medical practice in the coming years, on account of the rising government support for healthcare sector digitization and EHR, e-prescription platforms, and patient engagement solutions. Additionally, Europe- and North America-based providers of such solutions are rapidly expanding their operations in APAC, which would further spur the demand for them here.

Hence, as more and more healthcare processes and data shift to digital platforms and demand for cost-effective medical services increases, practice management systems would find an increasing number of takers in the coming years.

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