Medical practice management software for private practices has a medical station, with access through a single screen to the most usual data of their daily tasks, from where a clinical history is accessed that collects in a comprehensive way all the information of care of the Patients.
With this software for clinics can manage requests and results, generate reports based on templates, prescribe traditional recipes on paper, as well as electronic prescriptions integrated into the public health system. In addition, medical practice management software has an excellent billing system for private patients and with health insurance. Read more
CureMD, a leading Health IT Solution provider, surpasses past winners to secure top place.
CureMD, the innovative provider of Health IT systems and services made headlines yesterday by topping the 2015/2016 Best in KLAS: Software & Services Awards for both Best EMR and Practice Management for 1-10 physician practices (i).
The company debuted on the KLAS list in 2012 and since then has gone from strength to strength beating all other vendors with its user friendly products that are backed by a passionate service culture.
Healthcare organizations seeking to optimize operations through cloud based, specialty focused EMR and Practice Management are choosing CureMD to support the evolving clinical and administrative challenges of today’s care delivery enterprises. Its All-in-One integrated product offering and everything in-house business model has brought exceptional value and affordability to medical practices of all sizes. The company is now committed to make seamless interoperability a reality for patients and providers by adopting enhanced data sharing practices for an informed and empowered care delivery system. Read more
EHRs have become quite a common phenomenon in the American healthcare industry. In 2015, 78% of office-based physicians use an EHR system while 59% want to switch their current EHR provider. Moving forward in 2016, CureMD, eClinicalWorks, and Practice Fusion are the top three EHR vendors. CureMD offers one of the most comprehensive cloud platforms as an EHR vendor with continuous support and problem resolution. eClinicalWorks has the second highest market share in the American market at 10.2% as it provides solutions to practices of multiple sizes. Practice Fusion specifically caters to smaller practices and is MU, ICD-10, and PQRS compliant. Read more
In today’s struggling economy, physicians tend to focus more on the business side of their medical practices to ensure the sustainability of their medical practice. To improve a practice’s workflow and revenue for its survival in the long run, physicians have started shifting their focus more towards medical billing and coding. Despite this shift in the healthcare industry, many practices have gone bankrupt because of the increasing claim denial rates. It is estimated that US physicians face a loss of at least $125 billion every year because of poor medical billing. There are two main reasons why physicians face such a huge loss in practice revenue; the increasing number of billing errors made by physicians or staff members in claims and the failure of staying up-to-date with the changing rules and regulations of medical billing.
To get Ready for ICD-10 many practices have started outsourcing their medical billing tasks to billing companies, so that physicians can direct more focus towards their patients and leave the ‘dirty’ work to billing experts. However, simply handing over the billing process is not going to help medical practices reach their highest potential and squeeze maximum revenue out of the submitted claims. There are some billing companies that only assist medical practices by carrying out the implied billing tasks like code reviewing, claim preparation, claim submission and insurance follow-up. These tasks can help reduce claim denial rates of medical practices to some extent, but not assist them in turning the tide against revenue loss.
Some billing companies have taken a different approach to tackle this long term revenue loss problem. These companies offer additional services to medical practices like managing claim processing, payment and revenue generation. These added services are collectively known as Revenue Cycle Management or RCM. RCM service covers tasks like claim tracking, payment collection and also addresses denied claims, which is most likely the main cause behind 60% of missed revenue opportunity for a practice. Following are some other services offered by RCM billing companies, which makes them a better choice as compared to simple medical billing companies:
Pursuing denied claims
Unlike other billing companies, RCM vendors keep track of both the submitted as well as denied claims. By identifying the error behind the rejection or denial of claims, these vendors can advice physicians to make the required changes before resubmitting the claim. This increases the probability of approval of future claims as well.
Reporting and analysis
A physician needs to follow up with the billing and revenue generation process of his medical practice. RCM vendors provide timely and detailed revenue reports to the physician, informing him of the number of claims accepted or denied and the shift in the practice’s revenue generated from these claims. Regular reporting and analytics also help physicians and billers to forecast the continued growth and profit of the medical practice for the next couple of years.
If a patient defaults on his bill, who is supposed to follow up? RCM vendors also save physicians from the trouble of tracking all patients who have yet to pay their medical bills.
In a nutshell, RCM companies have redefined the billing process of medical practices and are more suitable to handle medical billing operations as compared to simple billing companies. Moreover, not all RCM vendors charge physicians heavily for offering additional billing services, which is a plus point for small practices. In order to find a fitting RCM company for their practice, physicians must evaluate billing companies on the level of services they provide, their industry experience and use of technology.