Can an Electronic Health Record (EHR) system help you increase your practice revenues? It has somewhat become a long debate amidst a recovering economy where insurance companies continue to squeeze reimbursements. But is your EHR system really able to help you increase revenues, decrease costs, improve patient care or any combination of these three variables which helps you in maximizing reimbursements and collections?
EHR software improves charge capture
In a traditional model of billing, many services which are performed in a clinic are lost and may never be billed. Compare this to an EHR software, where every service rendered is charged for properly, thereby avoiding lost revenues.
EHR software maximizes billing
Through the EHR software, providers can code accurately through the system recommended E&M billing codes based on the services provided, resulting in maximum reimbursements. In paper charts, some physicians down code to avoid audits; however, end up losing considerable money.
EHR software optimizes reimbursements
With the help of an EHR software, physicians are able to produce required documentation as per CMS guidelines and helps the correct level of service to be billed. Accurate coding speeds up the reimbursement process and results in fewer rejected claims from insurance companies.
EHR software increases physician productivity
EHR software considerably reduces time spent per patient through auto-generated patient notes which can be signed electronically from home or work, with zero charts. The time saved per encounter can be used to see more patients every day. In addition, implementation of EHR software eliminates the need to maintain separate record storage rooms, making space for more consultation rooms.
EHR software increases services with reminders
EHR software provide computerized checks which enable reminders to be sent to all patients who are overdue for recommended services, or who are coming in for their annual check-ups. This helps the physician to deliver better patient care, while at the same time increasing service volume and revenue.