As physical therapy documentation, billing and coding becomes more complicated, it becomes more difficult for the practice to monitor revenue and maintain staff productivity.
Nitin Chhoda explains why an EMR should include ‘business metrics’ and ‘clinical timers’ to measure staff productivity in your practice.
It can be difficult for many physical therapists to identify accurately how their practice is faring financially. They know something is amiss, but locating the source of the deficit can be an elusive goal.
With physical therapy documentation software, therapists can contract with the best payers, identify staff members who are stealing time and determine trends in revenue for effective planning.
Once implemented, EMRs can help therapists conduct an operational analysis of their clinic to locate problems, but it’s critical to document problem areas prior to making the transition to an EMR.
Problems Augmented Through EMR
Existing problems can be amplified and it’s essential for therapists to know what they want the EMR to accomplish for their physical therapy documentation process before making a selection. A thorough operational assessment will tell practice owners if they’re exposing themselves to liabilities or missing opportunities.
An analysis will disclose if fees are adequate for the services provided, the labor costs, the productivity of staff, and whether the practice is advancing or stagnating. Current workflows should be examined to determine which EMR will be the least intrusive, while meeting the physical therapy documentation needs and requirements of the individual practice.
EMRs offer clinic owners with numerous tools that can be used to save money and obtain the most lucrative reimbursements. The productivity and financial viability of the practice can be charted in multiple departments, from patient scheduling to billing and collections.
EMR Physical Therapy Documentation
Physical therapy documentation systems can be used to ascertain where the bulk of referrals and revenue are originating, determine the best payers with which to contract, and ascertain the effectiveness of marketing campaigns.
Implementation of an EMR in physical therapy documentation is an investment in the health and profitability of the clinic that can demonstrate up to a 73 percent return on investment within the first 12 months.
Practice owners can utilize physical therapy documentation software to streamline all processes within the clinic, and assist therapists in identifying highly sought patient services. New equipment purchases can be planned and services offered to attract and retain patients.
In the current economy, it’s more important than ever for therapists to keep a tight rein on expenses and control the management of their practices. EMRs offer better patient management and flexibility in coding and billing for an optimally funded clinic.
EMR is a Great Tool
In addition to offering a more positive patient experience, therapists can utilize EMR technology of physical therapy documentation to plan and initiate marketing strategies and nurture ongoing relationships with patients.
Detailed information can be obtained on a wide range of physical therapy documentation providers to negotiate contracts that maximize cash flow.
Today’s therapists work with an extensive number of payers, from traditional insurance companies to state and federal organizations. An EMR facilitates locating, enrolling and contracting with the best payers.
An EMR isn’t a magical wand that will miraculously transform a flagging practice into an extravagantly successful business, but it does contain all the components needed to build a thriving practice.
EMRs contain the tools to monitor the productivity of staff, discover the best payers and increase the overall productivity and profitability of clinics. A physical therapy documentation system simplifies the process of enrollment with insurance companies to best fund a thriving clinic.