Taking the burden away from medical practices can lower physician‘s burnout, increase revenue, and improve patient satisfaction.
There was already pressure on the healthcare system prior to the arrival of COVID, but the virus has put even more pressure on it.
With new adjustments to the way doctors are paid and other changes as a result of the COVID pandemic, hospitals and physicians’ groups are struggling to maintain their operations. Sadly, a lot of them are faced with having to shut down their business because of this difficult economic situation.
Excessive worrying about how much are they going to get paid and when will they get paid changes the physicians’ focus. The administrative complexities and worries can shift some of their attention to mere survival of their practice, making it difficult to focus on what is most important: their patients.
Identify your administrative burden
The American Medical Association (AMA) recommends healthcare organizations establish a framework for physicians to identify and address the root causes of these administrative burdens. Identifying and having an action plan to address them can help mitigate the effects of burnout or prevent it altogether.
The complex and ever-changing administrative tasks that physicians take on distracts them from what matters the most. Time spent taking care of payments, denials, appointments and all the paperwork leaves less time to see patients.
Attempting to balance administrative tasks and providing the best care to patients, physicians start to burnout, see fewer patients, and lose their track.
According to Health Prime’s CEO & President, Pranil Vadgama, by relieving physicians from any administrative burden, medical practices can start seeing more patients, therefore, generate more revenue.
Ensure your reimbursement
Now is the time to make sure that every single patient encounter that your physician group is taking on has been reimbursed.
“At Health Prime we can apply our knowledge and analytics to ensure that there is higher reimbursements for physicians. By taking away that burden and paperwork from them, we can work through all the complexity of dealing with payers so they can start seeing immediate improvement in their reimbursement”
-Vadgama said.
The relief of not having to worry about paperwork and leaving that aspect of the practice in expert hands, allows physicians to get back to their patients.
By providing greater care and focusing on them, patient satisfaction will improve. Patients will receive better treatment and have their physician’s attention, encouraging them to return to that physician group for future care. Increased patient satisfaction will improve revenue, patient retention and referrals.
Monitor your medical practice
Analyzing the medical practice to identify which key performance indicators physicians can improve and creating a plan of action (POA) to enhance their practice management can be an overwhelming task, especially when considering physician’s day-to-day commitments.
“The pressure to have analytics in place and having clean claims go through is even more important now than it was before. Physicians need to focus on the bottom line. That is where we come in providing the right analytics dashboard so that we are able to really look and mine into the data, so we along with the physician can look at every single opportunity to crawl back reimbursement”,
– Vadgama said.
More than ever, physicians need to turn their sight to their patients without neglecting their administrative responsibilities and paperwork to get their payments.
Advice from a qualified partner that has the expertise and the technology tools to help you manage your administrative tasks is essential to reduce burnout, increase more revenue, see more patients per day, provide greater care and improve patient satisfaction.
At Health Prime, we make technology the solution, not the cause. Our holistic approach delivers on a promise to improve the well-being of physicians, patients, and healthcare practices. With the right technology and guidance, moving from fee-for-service to value-based care can make sense for everyone.
If you are ready to relieve your administrative burden and get back to the joys of practicing medicine—and your life, feel free to reach out to us at [email protected]. Set up a meeting with us and discuss how we can help you get back to what matters the most: your health and your patients.
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