Choosing the right practice management software will impact time efficiency, functionality, and other than physician performance and revenue management efficiency, the practice management software you choose is the main factor for limiting your practice’s net revenue growth.
It does this by setting a ceiling on the ability to measure what’s working, analyze what isn’t, and helping you determine the means of improving the facets that are key to driving your financial success.
Not to mention that time is a precious commodity and the opportunity cost of wasted or misused time has a significant financial value.
Every doctor knows firsthand that there is already not enough time in the day. Not only will mediocre PM software cost all of the physicians in your group daily time that simply can’t be made up, in the bigger picture when the problems start to outweigh the benefits and it comes time to finally pull the ripcord and transition to a new PM software option, the time, energy, and effort cost to switch platforms and learn a new system is immense.
This latter piece is why so many Hospitalist groups stay with poor PM choices long after it has become crystal clear that it is not working out as they had hoped.
Plus, it is not like there is a selection of options designed specifically for Hospitalists. The software options are geared towards doctors in general and generally fall short of providing the best array of tools, filters, and functions specifically for Hospitalists who require a greater focus on assets for Doctors on the go.
The key to avoiding this pit trap is due diligence upfront to save a bunch of time and hassle later.
I left the decision up to the group and several of the doctors had previous experience with one of the main software options so we defaulted to that selection and moved forward. Needless to say I am now paying for my hastiness as the functionality and analytics are not at all aligned with what we need. The information is hard to sort through or make sense of. And knowing you need to improve vs sorting out the best ways to improve are two different animals. I had to spend weeks sourcing out a replacement and investing in the transition, which is giving everyone a headache. The only silver lining is that we found a software with a focus on performance insights that is already looking like it is going to pay off and hopefully that will make up for everything in the long run.
-Pete Williamson, M.D.
But what is the right due diligence?
Here are the 3 key questions you need to know the answer to in order to narrow down the selection before scheduling a few hands-on demos to make sure the software does what it is supposed to in a manner that you can understand and utilize on a daily basis.
Primary Question: What functions does the Practice Management offer for analyzing physician performance? And just as importantly, what access does it provide to physicians with regards to performance insights?
In many ways, the answer to this question could determine the right PM for you regardless of any other factors.
In 2019, an independent third party survey of top-performing healthcare organizations revealed that 74% (#2) rated the ability of a PM to analyze physician performance one of their top four best practice priorities to implement.
This makes sense as measurement and analysis are key tools for improvement.
The next down on the list, 72% prioritized the need for providing physicians with better access to performance insights as a key for long-term financial growth.
Here at Claimocity, we made Practice IQ one of our main focuses long before this survey took place, and it is no surprise that Hospitalists love the feature.
Not only is Claimocity designed specifically and exclusively for Hospitalists, but the Practice IQ reporting functionality also offers quick looks at key stats or comprehensive explorations of practice performance, individual performance, state/national benchmarks, KPIs, data segmentation, month over month and year over year comparisons, and so much more.
Bonus Question: How user-friendly is it – essentially how does it feel, flow, and impact efficiency?
The importance of this question cannot be understated as there is a big difference between potential value and practical value.
A PM can do a variety of advanced functions but requires twelve steps to filter to the right data you want to glance at, or requires a huge amount of hassle to use proficiently, is not going to provide far less value than the maximum possible.
But how can you tell right off the bat?
This is an easy question to ask, but a difficult one to answer because no software is going to advertise as being clumsy or awkward, difficult to navigate, non-intuitive, poorly designed, hard to figure out, and constantly requiring a struggle to utilize effectively.
The reality is that there are lots of PM options on the market that offer great functionality but spent far less time on UI/UX design (user experience design) than they should have.
The end result is a product that looks good on paper but one that no one can get full use from without an extreme level of effort and frustration.
The simple reality is that efficiency is everything and efficiency is directly impacted by the intuitive nature of the software, whether features are easily accessible when they are needed, and how the software will hold up to the chaos of the day when you are seeing huge volumes of patients and have 30 things to do with only enough time for 10.
If you have to choose between powerful features and efficient features, always choose the latter as doing a few things quickly, easily, and painlessly will take you much farther than have more options that are great in theory but fall short in the practical utility of the real-world application.
This is where software demos are critical.
But here’s an insider tip… ALWAYS schedule more than one demo.
There is an inevitable learning curve and companies employ salespeople to push the features and gloss over the issues.
You can mitigate this to an extent by not settling for a quick look or guided tour but getting an initial feel for the user experience and then building on that in follow up demos.
For a thorough evaluation select a few of the other members of the practice and have them schedule multiple demos as well so you can discuss the matter objectively.
If you want to learn more about Practice IQ or schedule a demo of our app, just reach out to a Claimocity specialist who will be happy to provide as many demos as you want without any sales pressure.
We let our software speak for itself and focus on providing the breadth of information you need to make an informed decision about whether it is right for you and your practice.