What Features Should Be Included in Medical Practice Management Software?
Comprehensive medical practice management software is designed to handle all the administrative functions of a physician practice, and Claimocity integrates all of this into an easy to use mobile application that you can effectively manage from your mobile phone. But while mobile smart technology is an effective tool for doctors on the go, we built our hospitalist practice management software to easily transition across platforms and devices.
This means you can move from your smartphone to tablet, laptop, or desktop computer with an effortless flow and no loss of data, allowing you to work from any device and smoothly move to any other device using our cohesive online portal that keeps all of your information safe and secure while enabling a level of portability and flexibility you simply will not find anywhere else.
While many practice management software features only focus on the aspects of the daily operations and require the addition of separate medical scheduling software, medical billing software, and electronic medical records software options in order to provide the full functionality necessary for true practice management, Claimocity integrates all of these into a single standalone smart software.
Best of all, we do each of these functions better than any stand-alone product, offering world-class full-cycle billing for hospitalists, integrating the first-ever smart census for patient scheduling and daily inpatient census needs at the hospital, and maintaining EMR patient records to help automate the clinical side of a medical practice to enable reference to patient allergies, medical history, immunizations, charts, prescriptions, and diagnosis notes.
The federal government mandates that every medical facility adopt an EMR but not all EMRs and medical practice management software solutions integrate well together. The same is true for scheduling solutions and medical billing solutions. Claimocity eliminates this issue by providing the full package in a fully integrated smart software bundle to handle operations, scheduling, billing, and medical records while providing AI-enhanced functionality to enhance efficiency, save time and effort, and boost revenue.
The true focus of good physician PM software is to improve workflow and reduce administrative burdens so that the Hospitalist can spend more time on the medicine, with the patients, or on making improvements to their practice.
The level of functionality included in the features has a substantial influence on how successful it is going to be at assisting with common medical admin and billing submissions time needs.
Full Cycle Billing: The value of integrating billing functionalities into your MPM (medical practice management) cannot be emphasized enough. For example, Claimocity integrates full-service end to end billing with a support staff of billing experts but also provides an accelerated mobile capture tool that decreases the number of missing or erroneous charges while speeding up the time it takes for billing – both saving time and increasing monetary value. These tools are win-win.
Efficient Scheduling: Traditional calendars, excel sheets, or even mobile calendar apps all have issues relating to human error, portability, security, and potential for data loss. Most practices either outsource this need or use external software to better organize their appointment scheduling and patient management needs. But as mentioned above, there are often integration issues with other necessary components, and it requires paying significant sums that add up and impact bottom-line revenue growth. Claimocity integrates scheduling directly in the practice management aspect and takes it to the next level with advanced software enhancements that create smart census functionalities no other MPM or scheduling software offers.
Patient Demographics and Registration: New patients need to be inputted into the system for billing and verification. Their demographics, vital personal info, and other relevant categories such as insurance information typically need to be filled out on paper and then scanned, faxed, or shared, creating chains of custody with the potential for lost info and human error along the way. Not to mention this is a significant time burden on the physician. Claimocity offers two solutions that save bundles of time and effort to solve this issue including a barcode scanner so that the hospitalist can simply use the app to scan the patient wristband or chart and auto-populate all the necessary information directly from the hospital to the EMR and back-end billing system, not to mention add the patient to the PM for easy scheduling, charge capture, and processing claims. If the physician prefers a different route, Claimocity also offers facesheet integration, allowing the hospitalist to simply take a picture of the patient’s facesheet and submit it. The Claimocity team takes it from there and does all the grunt work of filling out the required fields so that the doctor doesn’t have to.
Managing the Claim Cycle: From the point of care to the final approval or denial, claims run through a rigorous process of time constraints, burdens of proof, administrative hurdles, and bureaucratic elements designed to increase the claim denial rate by making it a difficult process for doctors. The insurance companies have a financial incentive to create an inefficient system because any claims they do not pay add to their profit margins. So effective billing is not only about coding with integrity and effective patient care, but proactively identifying and resolving issues, generating clean claims that are approved the first time through, accelerated time management to avoid deadlines, and being supported by an experienced billing staff capable of handling the full array of claims through the full array of stages. Claimocity uses a proprietary rules engine to identify and reduce mistakes and issues at the point of care, pattern analysis software to improve billing over time, artificial intelligence to process data and compare it against statistical models and historical data for higher effectiveness, and a hands-on team of full support billing experts who meticulously manage your practice’s billing to ensure the highest levels of compliance, coding, performance metrics, and bottom-line revenue generation.
Reporting and Evaluative Management: From generating best practices, to payroll filters, to goal setting and KPI evaluation measures, good physician practice management software options should include features that focus on reporting and related functionalities to track practice-wide activities, set performance goals, measure productivity, provide analytics, and generate reports. Many software options offer mediocre options when it comes to this central reporting feature but Claimocity believes that reporting is key to improving and understanding physician performance in measurable and valuable ways is key to reporting. That’s why Claimocity has taken these central evaluative reporting functions to the next level by offering an easy to access and understand layout full of critical information that enables a higher degree of available options like smart reports, practice filters, big data analytics processed down into key insights, and comparative evaluations against state and national averages within the specialty.
Other features that should not be overlooked include:
- Contracting and credentialing. Not many MPM options include this but Claimocity feels that it is an essential component to practice management and our PM software includes experts who handle the contracting and credentialing needs of the practice so that the group can focus on the patients, the medicine, and the group.
- Mobile Access. This is considered a peripheral feature by most PM software options as they consider the desktop portal the primary feature. But here at Claimocity, we believe that the future of medicine is mobile, and this is even more of a critical component for hospitalists who spend part or all their time seeing patients in a hospital setting. Our software is mobile-centric with effortless transitions to tablet and desktop. This way you get everything at your fingertips and when you have access to a laptop, desktop, or tablet, your practice management features just slip smoothly onto that device with no loss of data or effort.
- Coding. This feature is often overlooked as billing companies are willing to provide a better than average revenue cycle and make claims about greatness. The reality is that coding is a critical component, not just to ensure claim viability, but optimize claim integrity by eliminating the revenue loss from coding under industry standards while eliminating the very real risk of audit and substantial financial and legal penalties handed down from patterns of coding over acceptable levels in order to pad income. Claimocity integrates a coding optimizer tool that is built around artificial intelligence big data processing and is able to compare the situational data and diagnosis against huge volumes of industry and historical data before running it through a proprietary statistical modeling battery in order to ensure that you are maximizing your revenue value on the claim, eliminating denial risk, ensuring that the diagnosis code lines up with the highest value the specific insurance in question is willing to pay, and evaluating the claim and supporting information against every stage of the claim cycle. All of this happens instantaneously and provides helpful insights and feedback at the point of care or claim submission so that you can adjust with integrity.
- RVU Calculations and Comparisons: Not many software features focus on RVUs, which stand for reality value units, and are able to showcase real-world Medicare reimbursement data in a useful and comparative manner. Comprised of three components including physician work, practice expense, and professional liability expense, summary RVUs factor in geographic adjustments and runs the numbers through a formula that converts these numbers into dollar amount totals. At Claimocity, we believe in full transparency and our business model is built around lifting the veil between the insurance company billing system and the physician for better understanding and revenue generation. Providing RVUs is a key aspect of our software functions and we make it easy to access the RVU and the corresponding monetary value associated.