If you are a PT, OT, or SLP running your own private practice and considering a physical therapy EMR, you can see how much ROI an EMR can generate for your private practice. They are easy to find by searching online for the physical therapy ROI calculator.
What makes one EMR different from another?
There are many physical therapy EMR options available on the market. Choosing the right solution for your practice doesn’t have to be a daunting task. During your search, it’s important to always stay focused on the needs of your practice, not the software. Using an online ROI calculator and simply entering numbers like your average monthly visits, average net revenue per visit, annual revenue, number of unpaid claims, billing cost per claim, percentage of appointment reminders that reach your clients successfully, and the number of no-shows and cancellations in the calculator can really help you see the potential benefits of going from paper to electronic. In fact, electronic medical records are fast becoming the way of the near future. In most cases, switching to EMR physical therapy produces positive results.
improve income
Physical therapy software improves revenue and collections by enabling integration providers to submit claims instantly and receive real-time status updates through a two-way clearinghouse. There are physical therapy EMR systems that automatically capture every billable treatment directly from the PT’s documentation, so therapists always have the backup for a denied claim should one occur. Through this automated process, organizations have increased their charges by as much as 10-20 percent. The therapy practice solution can also alert you when a patient is approaching their authorized treatment limit and display a patient’s referral status before each visit. All of these features of an EMR can significantly help improve revenue in your practice.
Reduce no-shows and cancellations
With private practice facilities currently averaging 12 to 18 percent no-shows and cancellations per year, appointment system reminders are emerging as a way to reduce or eliminate them altogether. Your current automated reminder system could cost as much as $.25/reminder. Manual calls consume staff time and are also costly. There are some physical therapy scheduling software programs that can automatically send text, phone, or email reminders to patients and are included at no additional cost. Make sure you opt for a software solution that offers automatic reminders at no cost; there really is such a thing.
Keep your referring doctors happy
Physical therapy EMR systems can also help you keep your referring doctors happy. Many EMR solutions out there are designed to strengthen relationships with referring physicians and ultimately help grow your practice. The nice thing about some practice management solutions is instant one-page summary care plan reports that provide referring physicians with information about their patients’ treatment, usually sent via fax or a secure online portal, all before the patient leaves the office.