What is Practice Management Software? (And What's in it for Me?)

Practice management can be summed up in three words: Time is money. Why? Because a good practice management software system saves you and your practice plenty of both – time and money. How? Let's investigate what practice management is and how it solves day-to-day operations problems.

Practice Management Software Saves Time, Money

Workflows such as appointment scheduling, insurance verification, medical billing, and patient engagement can spell the difference between practices that are sputtering and practices that are humming along.

There was a time when these workflows were handled manually, but practice management systems now streamline these processes with expedited – and often automated – workflows that can spare practices enormous time, expense, and overhead.

For example, a quality Practice Management system will:

• Facilitate claims management

• Send automatic appointment reminders to patients

• Reduce the number of patient no-shows

• Eliminate double-entry of data

• Enable charting, patient demographics, and e-Prescriptions from integrated prescriber software.

• Keep patient records safe, secure, and interoperable

Operating within a fully integrated electronic health records system, practice management benefits include fewer redundancies, less coding and data re-entry (and thus less chance for error), and again, enormous savings in time and money.

Though tailored more for the administrative side of any given practice, practice management software dramatically increases workflow efficiencies across all sectors of medical practice. But these efficiencies happen only with software that is fully integrated into a cloud-based, HIPAA-compliant system.

See InSync's Practice Management Software In Action

Let’s take a closer look at some of the features that can help you make an informed decision about the practice management software that best suits your needs:

Scheduling

This isn't just about digitally recording your patient's next appointment. It's about:

• Filtering available dates based on the provider's availability within the next few days, weeks, or months – a feature that eliminates a lot of time-consuming manual searching and is especially helpful when scheduling sequential appointments over a period of time

• Sending automatic alerts to patients about upcoming appointments, so they can confirm (or decline) the booking before the day of the actual appointment.

• Automatically alerting waitlist patients about suddenly available openings (and giving them the option to accept or decline) 

• Scheduling multiple patients all at once for group sessions in mental health practices

Automated Billing

A quality practice management software suite Includes everything from a patient cost estimator and electronic claims processing to the automatic import of charges – or scheduled batch eligibility, in which the names of your next day’s patients can be automatically sent to a clearinghouse for overnight verification of their insurance coverage.

Gain a stronger understanding of automated medical billing with this brief video

Insurance verification

Manually verifying the insurance eligibility of each and every patient typically requires dedicated staff for just this job alone. It's a costly and time-consuming process.

Now, suppose you have a 10-provider practice, and each provider is scheduled to see 20 patients tomorrow. That's 200 patients requiring insurance verification for one day, which factors out to 1,000 over the course of a week.  

How great would it be if every patient's insurance eligibility could be automatically verified through an integrated clearinghouse overnight before you and your staff arrive at the office in the morning? With the correct software, it can be that fast and simple. And with real-time insurance eligibility by batch, the savings in time and resources is immeasurable and invaluable.

Also, because verification results are available first thing, your practice has a better chance of addressing and resolving patients’ insurance eligibility issues before their arrival.

Patient portal

Though designed with the patient in mind, the portal also benefits providers and practices. It gives patients with an internet connection 24-hour access to their personal health information in addition to:

• Ability to request electronic prescription refills

• Ability to make online payments

• Downloading and completing forms

• Viewing educational materials

It also allows patients to register and/or schedule non-emergency appointments based on provider availability – and to freely and securely communicate with providers or staff on an interoperable HIPAA-compliant system.

InSync Configures Practice Management Software to The Needs of Your practice

At InSync Healthcare Solutions, our medical practice management software can be customized to fill in the gaps in coverage that your practice requires. With clean reports, an easy-to-use scheduler, and a configurable dashboard, our Practice Management solution works alongside your already established workflows.

That is, the InSync Practice Management software works around your needs, not the other way around.

For a closer look at how our software system can dramatically improve workflows in your practice, schedule a demo now with one of our experts. We're happy to answer questions and explain how we can tailor our system to meet your particular needs.