How to Increase Revenue of Podiatry Practice after Implementing EMR

2. How to Increase Revenue of Podiatry Practice afterImplementing EMR? EMR implementation can be challenging, but if done correctly it can yield an increase in revenue. The initial investment then becomes affordable and the long-term results become quite compelling. Post-EMR implementation, an evaluation should be carried out to guarantee that the practice is functioning effectively to ensure staff and patient satisfaction. Some of the benefits of implementing EMR and how it can be leveraged to further increase revenue podiatry practice are discussed here. 1. Facilitates Growth in Govt. Claims Reimbursements Government payers require meticulous documentation of all the routine checks of a patient, which is time-consuming. However, since Medicare requires documentation for everything billed, practitioners only bill for those items that have documented records. Due to this, doctors are deprived of about 15% of their reimbursements annually. 2. Reduces Malpractice Insurance Premiums

3. How to Increase Revenue of Podiatry Practice afterImplementing EMR? Improved documentation, audit trails, and accuracy helps reduce medical billing errors, and may also increase the chances of physicians receiving discounts from insurers. An EMR system reduces costs related to poor documentation which could have resulted in higher malpractice premiums. 3. EMR can Maximize Revenue Physicians can increase their revenue if they code appropriately and do not own code. Some software programs recommend coding based on the service documented in the EMR. Medical Economics magazine has estimated that doctors who frequently down code to avoid audits, lose an average of $40,000 per year. 4. Health Maintenance Reminders EMR systems set reminders for overdue appointments. This enables physicians to remind their valued patients of timely check-ups and extend quality patient care. It also boosts their service volume and revenue in turn.

4. How to Increase Revenue of Podiatry Practice afterImplementing EMR? 5. EMR Decreases Admin Costs Switching to EMR minimizes storage space, allowing a possibility for another consultation room. Office supply expenses such as purchasing, copying, storing, or destroying paper charts are also eliminated. EMR software comes with prebuilt templates that let you document patient complaints quickly. EMR eliminates transcription costs, thereby eliminating hiring or paying transcribers and medical records clerks. Instead of cutting labor costs, a better alternative would be to hire an assistant who will help you cater to more patients and increase your practice’s efficiency. 6. Saves Time & Boosts Efficiency Due to EMR the staff and doctors spend less time locating files or charts. It also allows simultaneous access to more than one person which saves time. If the EMRs are integrated with the billing system, it significantly

5. How to Increase Revenue of Podiatry Practice afterImplementing EMR? helps to reduce data entry work and also maintains accuracy. Prescriptions can be directly sent to the pharmacy before you’ve even left the patient. MedicalBillersandCoders.com consistently delivers cost-minimizing and revenue-maximizing solutions to varied podiatric services. MBC professionals carefully upgrade the competencies that ensure efficiently executed podiatric medical billing solutions. Their billers are equipped with the demands of ICD-10 coding and HIPAA 5010 medical reporting compliance. MBC constantly provides a proactive outlook for opportunities and challenges in podiatry billing management. We should be able precisely to tell what you would like to grow or Increase the Revenue of Podiatry Practice and apply effectively. Services of expert billers in specialty Podiatry billing can help a practice overcome billing challenges easily. Outsourcing the revenue cycle management of a podiatry practice to a medical billing expert can maximize claims payments and keep the practice compliant with governmental regulations.

6. How to Increase Revenue of Podiatry Practice afterImplementing EMR? About MedicalBillersandCoders We are here to share your medical billing and coding responsibilities. Together we can avoid coding mistakes and revenue loss. We are one of the prominent medical billing and coding service providers in the country. We have a dedicated team of coders equipped with knowledge of the podiatry specialty. With our podiatry coding capabilities, you can effectively focus on your patients without stress. If you are concerned about How to Increase Revenue with an Outsourced Podiatry Billing Service In more detail fill free to contact us, we are here to help you.