5 Most Common Practice Management Software Myths Debunked
Practice Management software provides physicians, specialists, psychiatrists, chiropractors, and many other physical and mental health professionals with the tools and streamlined organization needed to keep their back offices functioning smoothly. In contrast, patients are provided with excellent care when using practice management software.
The days of file cabinets and scheduling books have passed, and small modern practices have advanced from manual filing, scheduling, and record-keeping to secure practice management software systems that help reduce costs and increase the number of patients receiving care at a practice.
We’ll debunk some of the five most common misconceptions and demonstrate the truth and value modern practice management software solutions offer in medical practice management.
Myth 1: Most physicians and health care professionals only work in large hospitals or clinics.
While many healthcare providers work under the umbrella of a large hospital or in a busy clinic environment, the small medical practice is becoming more and more common, particularly for specialists. More and more physicians are creating their practices, whether on their own or in small groups, to add flexibility to their schedules and build a practice on their terms. Likewise, specialists focusing on a specific care area are starting to open their practices.
The American Association of Medical Colleges found that the number of physicians in small practices increased from 50.7% in 2012 to 53.3% in 2016. This is partly due to the ever-increasing cost of malpractice insurance, the need for more control over their working hours and patient care, and the desire to have a more personal relationship with their patients.
Independent practices often don’t have the same budget as large hospitals or clinics and must be especially mindful of their spending. Practice Management software helps small practices to save on costs by automating tasks that would otherwise be done manually, such as patient scheduling, record keeping, and invoicing.
As a result, the need for software to help small practices manage their scheduling, billing, claims, and more has grown alongside this trend. Fortunately, an array of Practice Management software systems is designed to meet the needs and budgets of small practices.
Myth 2: Only large practices and hospitals need a practice management software solution.
In a small practice, medical professionals must pay close attention to their budget, income, record management, and more. Even though a small practice will see fewer patients overall than a large hospital or clinic, it must adhere to the same standard of care and meet all the same industry-level compliance measures as a larger practice.
Additionally, a small practice may not have the same number of staff on hand to assist with tasks such as scheduling, billing, and record keeping. This is where a good Practice Management software solution can help take some of the burdens of the small practice staff.
With all the features a Practice Management software offers, such as automated appointment scheduling, patient records management, and insurance claims processing, small practices can maintain organization and cut operational costs.
Practice Management software isn’t just for large practices. With the advent of cloud-based and mobile practice management software solutions, a small approach can access all the essential tools they need to run a smooth course for a price well within budget.
Myth 3: Investing in Practice Management software is costly and time-consuming.
A common misconception about practice management software is that it is too expensive, time-consuming, and disruptive for a small practice to take on. However, modern solutions are often quite simple to implement. Many practice management software users experience substantial cost savings by running their offices more efficiently, which means they can provide care for more patients and increase revenue simultaneously.
In addition, with a cloud-based practice management software solution, there is no need for a small practice to purchase or maintain any new hardware, which further reduces the upfront cost of practice management software.
A good Practice Management software solution will quickly pay for itself by freeing up staff time to focus on tasks that directly improve patient care and automating many time-consuming tasks that come with managing a small practice.
Myth 4: Practice mobility is only a priority for the new generation of health care professionals.
Mobility is a massive trend in all Practice Management software and business types, and medical practices are no exception. While the newest generation of doctors and healthcare providers are well versed in technology and used to access systems and online tools from mobile devices and tablets, they certainly are not the only demographic embracing the benefits of mobility in practice management software.
In fact, according to a recent study by the American Academy of Family Physicians, nearly 60% of physicians over the age of 55 use a smartphone for their work, and almost 50% use a tablet.
The study found that mobile devices are used for various tasks in medical practice management software, such as accessing electronic health records (EHRs), reviewing lab results, prescribing medications, and communicating with patients.
Myth 5: Practice Management software is an all-in-one system for managing your health practice.
This myth is a tricky one because it’s an instance where it may or may not be the case depending on the practice management software solution a practice wants to implement.
Historically, medical practice software fell into a few categories: Practice Management software, Electronic Medical Records (EMR), and Medical Billing Software. While many vendors still offer point solutions that practices can implement separately and integrate into all their other systems, there’s been a shift toward all-in-one solutions.
Many practice management software vendors offer completely integrated software systems, including tools for Practice Management software, secure and compliant health record storage, and billing, all in one easily accessible system. Depending on the size and needs of your practice, practice management software may be the best solution overall for most courses, but it’s best to understand precisely what is offered in the solution you choose.
Like what you just read? At Wheelhouse, we are passionate about all things software, and our specialty is connecting software buyers to an enterprise solution that perfectly matches their needs.
Please visit our Practice Management Software page for a complete list of all our available solutions. Need more help?
Our software advisors are standing by to answer all your questions and help you find the perfect solution for your practice. Contact us today!