Payment cuts, ICD-10 preparation, rising healthcare costs and increasing administrative challenges are some of the industry pressures that have caused hindrance to the success of all medical specialties in the US, including cardiology.
Mentioned below are the top five technology trends that can help cardiology practices sail through RCM challenges and remain profitable. Implementing these trends will not only help eliminate physician dissatisfaction but also enhance the quality of patient care.
By adopting the latest trends and replacing old technologies, cardiology practices can reduce the administrative challenges.
1. Investing in Integrated Practice Management Software & EHR System
In order to overcome heavy administrative burdens, it is important for cardiology practices to maximize their efficiency. By investing in a well-designed practice management and EHR system, and integrating them in the workflow, cardiologists can enhance productivity to a great extent. The staff won’t have to enter same information in two separate systems, which will leave less room for errors. It will also be cost-effective and providers will be able to reduce their stress levels.
2. Reducing Costs by Shifting to the Cloud
It is important to choose cost-effective healthcare IT solutions including EHR and practice management systems to reduce overhead costs. The popularity of Cloud-based solutions has increased due to factors like affordability, accessibility and adaptability. Cloud-based systems have the capacity to reduce operating costs and improve productivity at medical practices. This system can be accessed 24/7 whether the physician is at home or on the go. Cardiology practices can avoid losing productivity while troubleshooting on phone calls or during long downloads with the help of a Cloud-based software.
3. Adoption of Analytical Tools for Effective Decision-making
With the help of a well-designed analytic tool, cardiology practices can make data-driven, informed decisions that will improve the practices’ performance. With the help of its insights, cardiologists can boost their profitability and efficiency by taking appropriate actions.
4. Implementing Mobile Solutions
As per Manhattan Research, there has been an increase in the number of physicians working on tablets, especially iPads. They are using the tablets to access EHRs and make notes while on the move. Various other tasks are also being performed with the help of tablets, such as sending emails, checking schedules and educating patients. This technology has helped cardiologists get a lot of work done in real-time rather than piling up pending work.
5. Using Patient Portals for Increased Productivity
Constraint of resources has made it hard for many cardiologists to take on new patients. But with the help of patient portals, cardiology practices can not only improve efficiency but also ensure better outcomes. Patient portals are quite effective, considering the scope and duration of care provided to the patients by cardiologists.
Apart from implementing these above-mentioned technologies, many cardiology practices have also outsourced their billing requirements to a billing partner. Companies like MedicalBillersandCoders.com are helping cardiologists across all the 50 states in the US to sail through reimbursement challenges. MBC has the largest consortium of certified coders and billers who are well-trained in helping providers streamline their revenue cycle and run a profitable business.