Benefits of Using Practice Management Software
"A key to achieving success is to assemble a strong and stable management team," said Vivek Wadhwa. Yes, a management team is certainly central to any organization or individual regardless of the business or the work involved.
Management is a crucial parameter indeed, which needs to be given utmost importance to make an endeavor successful in the long run. It is the same story that you will find reiterated even in the medical industry.
Though the medical care units, which were primarily in the form of large hospitals, have now taken the form of medical practices and other care units, managing the medical organization is nonetheless a hassle. It has been more so with the exponential rise in the number of patients needing medical attention due to a whole world of reasons.
However, now that the digital boom has resulted in the growth of practice management software, patient management software, and solutions of varied types, medical providers can ultimately rest assured.
These patient management and practice management software and systems are not only helping the patients but are helping the practices too in a number of different ways.
Before we delve into all the ways in which the practice management software and systems are helping medical practices, we need to understand why it has been an urgent need for the practices to get effective practice management solutions.
Why medical practices of today need hassle-free practice management software and solutions
There have been pouring patients all around the world, the medical care facilities are also expanding at an unprecedented rate. In this competition that we have today in the medical industry, quality is something that has prominently surfaced.
Statistics reveal that somewhere between $1.4-1.6 trillion is lost each year by the LMICs due to the lack of productivity they witness. This loss can be further traced back to the improper quality of medical care they have.
While looking at high-income countries, records disclose that 1 in every 10 patients is harmed while they are under hospital care. Furthermore, out of 100 patients who are hospitalized, 7 of them run the risk of being infected.
People hardly cared for quality earlier, which is more than important in the medical industry. The rise of quality into prominence is certainly something much noteworthy today. Quality medical care is what the patients demand now. This is the main reason why medical practices need to be managed well today.
Along with quality, there are some other reasons that are particularly responsible to make practice management an urgent need for medical care units and practices. Here they are:
• Practice management helps in managing the patient's data
• It helps practices minimize the wait time woes
• It helps enhance the overall security
• Practice management aids in streamlining the patient workflow
• It improves the billing process
• It brings credibility
• Practice management contributes to improved morale
Practice management is surely a quality that a medical practice takes pride in. A well-managed practice never fails to grow in resources and revenue over the years. However, to manage a medical practice well, the first thing they need is a proper practice management solution.
Managing a practice earlier entirely depended on its employees and physical resources. This has now been the responsibility of the digital practice management software and solutions. The all-new innovative patient management system, practice management system, software, and solution from trusted providers like GrowPractice are helping countless practices around the world achieve the management success they have only dreamt of before!
If you are also wanting to get over your practice management woes, then don't fall back, trust GrowPractice. Before you decide that, which is out and out the best thing for your medical provider, we have brought to you the major benefits of using practice and patient management software for your practice today.
Prominent Advantages of Using Practice Management Software
Ever since the practice and patient management software systems rose to prominence, managing patients and practices has just been a breeze.
The market for practice management software is nothing but growing. The market size of the practice management system was last valued at $12.9 bn in 2021, which is expected to grow at a CAGR of 8.8% during 2022 - 2030, according to a Grand View Research article.
This rise in the adoption of these software for practices around the globe can be traced back to the growing need for a reduction in healthcare costs coupled with the need of generating sufficient income for healthcare professionals.
No doubt the practices that are embracing the practice management solution are able to manage things better and more efficiently than ever, and are growing!
If you are still wondering why you should join the league too for your medical practice, then let's jump into some prominent benefits that the practice management software brings to the practices:
Streamlined workflow
Workflow is one of the first things that practice management software tends to work on improving. Reputed patient and practice management software from GrowPractice helps practice streamline the overall workflow along with extending patients the benefits of customized workflow.
This is definitely going to boost the overall patient experience and ramp up patient satisfaction rates.
Encouraging automation
Automation is quickly overtaking manual operation in almost every sector. It is the same in the medical industry too where automatic processes are embraced the daily, mundane activities. Bringing GrowPractice's practice management solutions to your medical practice will, therefore, encourage automation in your practice, thereby reducing the costs, the total time taken, and the total count of mistakes/errors.
Reduction of errors
Yes, it is true that the medical industry sees plenty of mistakes/errors happening daily, which adversely affects the medical units and practices.
80% of medical bills contain errors in them. As per a recent study conducted by the National Centre for Biotechnology Information, medical errors cost around $20 billion a year. Along with costing the practices heavily, medical errors aren't just like any other blunders, but they also are attached to people and their lives.
Medical errors in medical practices have resulted in around 100,000 people dying every year, which otherwise might have been preventable.
You can reduce the errors that are being caused each day at your practice just by switching to trustworthy medical patient and practice management software and solutions from GrowPractice.
Increased profitability
Profitability is directly associated with how well a practice is managed, which in turn, depends on the practice management systems and software at work. Therefore, if a practice lets patients wait for a long time, focuses less on the patients' needs, and is high on mistakes, the patients would certainly look for a better provider that is integrated with efficient patient and practice management solutions.
You can simply avoid all of these and maximize profitability at your practice by choosing GrowPractice's improved software and systems for managing practices.
Improved documentation
Data rules the world now. Documentation is more than important in the medical sector because of the huge number of important cases the industry and its units deal with. However, manual documentation is ridden with countless errors, incomplete information, and misinformation. Therefore, in order to dissolve all the hassles involved in documentation, GrowPractice has brought out a cutting-edge practice management system and patient management software that is helping practices stay ahead in documenting things and handling data.
Hassle-free scheduling and intake
With the advent of patient management software solutions, the scheduling of patients has become easy and effortless. Whether it is scheduling patient appointments or follow-ups, GrowPractice's software solutions are a step ahead of the rest and promise a hassle-free experience for the practices.
Hassle-free scheduling and intake
With the advent of patient management software solutions, the scheduling of patients has become easy and effortless. Whether it is scheduling patient appointments or follow-ups, GrowPractice's software solutions are a step ahead of the rest and promise a hassle-free experience for the practices.
Full integration
In this digital age we are living in, complete integration is urgently required while working with digital software systems. However, getting that is not easy with a rise in the competition that has spawned big and small players, among which not all of them are competent to extend the best possible services. GrowPractice on the other hand, promises a complete integration of its system with over 65+ EHR/PM software.
Improved billing processes
Around 50% of medical claims are erroneously created, according to a recent survey, on top of over 80% of bills that are plagued with errors. Furthermore, the billing process is also not completely digital for many organizations still. Offering flexible payment systems and services and an accurate billing process that is the least time-consuming is something that you get with GrowPractice's practice management system, which is why GrowPractice solutions are highly sought after.
Enhanced security
Optimum security is required when it comes to the medical industry. As per the reports of the HHS' Office for Civil Rights, over 4,419 healthcare data breaches of 500 or more records have been witnessed between 2009 and 2021. The count of these breaches equals over 94% of the total population of the US in 2021.
All of these security breaches have made the practices, medical staff and patients endure much. However, the modern practice management software and systems that are now being introduced to medical practices are reinforcing the security systems of the practices. This is on the brink of changing the game for the practices for good.
Magnified patient satisfaction
Finally, comes patient satisfaction. Yes, the growth of the patient and practice management systems and software are truly helping patients stay engaged and satisfied with all the benefits they are enjoying now.
Patient satisfaction might sound like a subjective idea that is hard to work on, but with effective practice management software, patient management system, and solutions, this too can be veritably enhanced.
GrowPractice Helps Boost Practice Management
GrowPractice is one promising provider of medical office software, patient and practice management systems, and solution that is bringing about a change in the global medical industry by boosting overall patient satisfaction and ensuring growth.
Here's a brief list of what GrowPractice offers to boost practice management:
• Digital patient scheduling with options for appointment rescheduling and cancellation
• Fully paperless intake and check-ins
• Customized patient workflows
• Two-way texting for patients
• HIPAA-compliant patient management software and systems
• Easy access to over 65 EHR/PM software
• Patient payments on-the-go
• Multi-level security benefits with data encryption
• Interactive patient satisfaction surveys and reviews
• Effective patient followups
This is not it. Check GrowPractice out to know more!
