Speciality EMR software and its contribution to proper medical services

medical-professionals

The success of an electronic medical record software stands in its compatibility with the practice. It must coordinate with the workflow and contain particular content for the specialty. In this way, the system will be easy to learn and it won’t make unnecessary actions. 

With specialty EHR software, practices save both time and money, as they reduce and also improve the administrative actions, which, according to the studies, represent nearly 25% of all hospital spendings in the US. 

The benefits of using medical software systems are more precisely described further in the article. 

Combining Specialty EHR & Specialists: 

EMR systems can be specialized in a singular domain, like Cardiology. Within cardiology, doctors can be divided into multiple categories, depending on what they are practising most often and the software needs to focus on the specific needs of each of them. If we consider for example a practice specialized in gynaecology, we must take into account that the practice needs to be effective in organising bills for smears, but not for prostate exams. Therefore, specialty-specific templates should determine due dates, have ultrasound analysis abilities, and track contraception records. This means that specialty-specific EHR software must accommodate every aspect of the practice, for it to achieve the highest standards of healthcare. 

Smooth workflows and procedures 

Healthcare environments are usually dynamic and EMR systems can make the processes a lot smoother and easier to adapt to. Specialty-Specific EHR software offers a standardized system for keeping top performance and reduces failures and redundancies, which is a great hand of help for the personnel. The staff can focus more on the patient, which will decrease the waiting time. 

Improved organisation 

Due to processes automatization (scheduling, billing due dates and patient tracking), practices can concentrate more on the services they are providing, rather than on the administrative issues. 

Better billing procedures 

The software comes with medical billing characteristics that help billers work diligently with the patients’ financial history and fill in gaps to lessen errors. This improves employee’s work and also hurries the entire process up, reducing rejected claims that often lead to costly suspensions. 

Flawless documentation 

Hand-written notes are a problem in many ways, including difficulties in reading and time spent during the process. EHR efficiently reduces errors and eases document reading and completing. 

Quality care is the primary focus 

While the software does almost every administrative task, the staff can be more careful with the patients, forgetting about the burdensome paperwork they needed to complete. 

Simpler and more effective scheduling 

Scheduling and calendar tools will allow the team to make appointments and calendar arrangements without much trouble and some of the systems will even include warnings that will notify when a balance is due or when the medical staff needs to address urgent patient concerns. 

Higher accuracy 

Contact information, as well as any other necessary data, is easily updated and features like copy functions, dictating and transcribing or reminders help the clinic or hospital achieve higher accuracy. 

Versatile technology 

EHR software is able to manage a lot of challenges and functions. The technology is scalable because its storage and processing capacities are unlimited, unlike traditional storage rooms. 

When we think about specialty software, EMR for small practice is just as efficient as EMR for private practice, as it adapts to each company’s requirements. 

Patient and providers are more satisfied 

Specialty-specific software is fulfilling for both the patient and the provider. As previously demonstrated, the software makes the administrative work more efficient, which will further benefit the actual work of the medical team. For patients, it is a huge benefit that the doctors can access their records anytime and so easily, as they will be able to offer proper urgent medication. 

Hence, every specialty has unique requirements for each aspect: medical billing, practice management and other administrative issues. Healthcare providers are in search of customizable systems that will help them achieve their goals and that won’t tangle them with useless services and technologies. The Specialty EHR Software offers personalized services for any particular specialty and contributes to a better patient-provider relationship. 

How EHR/EMR Software Can Benefit Your Practice

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Electronic medical records are no new product in health IT. The government has taken several steps to ensure EMRs are being used to their full potential, from the American Recovery and Reinvestment Act (ARRA) to the Affordable Care Act (ACA). Each Act comes with its own requirements: meaningful use, quality reports, etc.

Though these are designed to support and improve healthcare, practices are struggling and providers are beginning to lose morale. Despite the hefty costs, it’s important to remember that there are several merits of investing in an EMR software for a medical practice:

Enhance practice workflow: The biggest benefit EMRs provide is their ability to improve efficiency. With e-prescription services, quicker turnaround on lab results, and fewer errors in data, practices are able to increase their productivity and minimize costs of extra personnel, storage areas, etc.

Doctor in medical team discussing patient report at tablet computer in hospital

Enable quality care: The smoother a practice runs, the better services it can offer. Features such as patient portals allow patients to have their questions and concerns addressed promptly due to direct contact with their physicians. Some EMR systems also give providers access to patient records from anywhere, making remote monitoring that much easier.

Expand physician coordination: Some patients require care from multiple healthcare providers across various practices and it’s vital for communication among these providers to be timely and effective. EMRs make patient data easily available for physicians so they can be sure to have all necessary information, such as drug allergies to avoid incompatible medications, and lab results to avoid repeat tests.

Encourage involvement: One of the most valuable advantages of EMRs is motivating patients to be more involved in their medical care. This helps patients feel more comfortable and reassured regarding their health and also keeps them informed on which habits they should improve and/or change to maintain their wellness.

Ensure correct information: With overall improved efficiency, providers can also confirm that they are accurately diagnosing patients. Better outcomes allow patients to feel safe and grow with trust between patients and their physicians. Decreased liability and lower risk is also a bonus for the practice.

EMRs will help to cultivate a practice and bring in revenue. If providers can make it past Medicaid reimbursements and meaningful use stages, there’s a light at the end of the tunnel.

Financing vs. Paying Cash for your EMR investment

Financing vs. Paying Cash for your EMR investment

This question often arises: How should I pay for this EMR solution investment?

The discussion can easily begin with the question: Where am I in my practice? A physician just getting started in a new practice has different financial considerations than that of long-term, established practice. There are also many factors between the just getting started and well established. So, with this thought in mind, where do you begin the process? Outlay cash or finance? An argument can be made for the decision on either side.

Before serious consideration into this matter, please consult your own certified financial advisor.

The Pros and Cons of financing:

The cost of money. Investing cash while depreciating assets.

Example: The price of $20,000 over 5 years, (estimate).

The investment of $20,000 over five years can grow by about $9,000 assuming an annual return of 8%. $20,000 can become $29,000

The interest paid on $20,000 over the same five (5) year period can cost over $4,000 dollars assuming an interest rate of 8%. The cost of $20,000 can now go up to over $24,000.

Medical stethoscope and dollar bills

Depending on the financial status of your practice, the facts and figures demonstrated by the financial institution can help to determine your best choice.

There are many different financial institutions and varieties of financial products. The choices and rate options can be confusing as well. Payment terms can be negotiated and no penalties for early payment can help to guide you in the process of making a decision.

It may also be important to consider the benefits of the Section 179 tax code. This new law, created in 2003, allows medical offices to write-off up to $100,000 of computer software/hardware expenses in the first year of ownership, even when purchased under a lease or financing agreement. Before 2003 if the property for business had a useful life of more than one year, the cost had to be spread across several tax years as depreciation with a portion of the cost deducted each year.

Under the new law, there is a way to immediately receive these income tax benefits in one tax year. The provisions of Internal Revenue Code Section 179 allow a sole proprietor, partnership or corporation to fully expense tangible property in the year it is purchased. For more information on the benefits of the Section 179 code, click here.

To speak with an EMR Experts consultant regarding electronic medical record software or financing options please complete our Contact Us Form

How to purchase the right EMR Software for your practice

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Implementing an Electronic Medical Record (EMR) software in your office can be one of the most beneficial things you can do for your practice’s success. Unfortunately, buying the wrong EMR can be disastrous. To buy the right EMR you need to be able to see past the smoke and mirrors. Relying solely on your EMR vendor to make the right hardware and implementation recommendations can be a big mistake. Here are some tips you can use to help ensure a successful EMR implementation.

Set realistic goals. What do you wish to gain out of an EMR? Many offices purchase EMR software in hopes that it will automatically provide them with all the benefits that were promised to them. The right EMR software can help you reduce your number of staff, reduce your expenses, reduce medical errors and reduce documentation time. To realize all these benefits you need to set milestones and implement the right plan.

Perform a cost-benefit analysis. All offices work differently and have different inefficiencies. It’s important to have realistic expectations of what type of Return on Investment (ROI) can be expected. It’s important to look into these items before you begin looking at vendors so that you have an idea of what type of budget you will have available for your EMR as the cost of EMR software (not including hardware, implementation time and training) can range between $1000 and $45,000 and there is no silver bullet.

Medical stethoscope and dollar bills

Seek out unbiased sources of information. Distilling fact from fiction in the medical software industry can be difficult. Even many of the awards that are given to the different vendors for their products are often very biased. The internet offers many unbiased information sources on EMR. You may also want to consider bringing in the expertise of an IT Company or EMR consultant to help guide you through the process of selecting the right vendor.

Leveraging hardware to improve your EMR functionality. It’s a great thing when you have technology on your side to manage your patient’s records and become more efficient. To do this it’s imperative to select the right hardware based on your office’s needs and user experience. Involve the right IT company from the beginning to ensure a successful implementation.

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