Harness Technology to Improve Profitability

Harness Technology to Improve Profitability

Medtech Global

The efficiency of your practice impacts profitability. It’s no surprise that practices with too much wasted time and too many missed appointments are not as profitable as their productive peers. 

Technology solutions such as your practice management system, provide enormous time and labour savings. By leveraging contemporary tools your practice can reduce the amount of human intervention required with things like, appointments, reminders and even call backs. We have put together our top five tips to help you harness technology to improve practice productivity and cut costs.

  1. Online bookings
    Many patients would like the ability to book their own appointments after hours. So, it’s no surprise that having an online booking system improves patient engagement because patients feel empowered to make bookings when it’s convenient for them.

    The benefits to the practice are enormous. Administration staff can limit their involvement in bookings, appointment changes and cancellations which represents significant time savings for a busy practice. When using online booking systems, new patients complete their details on-line which reduces the admin burden for office staff. People that book on-line are less likely to miss appointments and we know the costly impact of ‘no shows’.


  2. SMS Reminders
    Missed appointments and patient ‘no shows” can really impact a doctor’s productivity and practice profitability

    SMS reminders deliver the ideal solution, they require minimal or no human intervention and will drastically improve patient ‘no shows’ by sending automated messages to patients reminding them of their upcoming appointment.


  3. Video consultations
    Video consultations provide an enormous growth opportunity for innovative practices that are ready to harness technology Those practices that have embraced Telehealth report an ability to see more patients in less time which impacts both profitability and productivity.

    The good news is that Medicare rebates are available for video consultations in remote areas for many practices and clinics.

    Telehealth solutions provide practices with an effortless way to deliver patient centric services that enhance access to quality health care, particularly those living outside major cities.

    Video consultations are also a clever way to fill timeslots created by last minute cancelations, this can be done by maintaining a waiting list for on-demand telehealth consultations.


  4. Remote health monitoring
    Also referred to as remote patient monitoring is the process of using technology to monitor patients at home. These systems allow patients to stay at home while they are monitored, and if/when their condition changes the doctor is alerted. This means patients no longer have to attend the clinic regularly for check-ups, it frees up the physicians’ time and potentially allows for a nurse to monitor the patient.

    When incorporated in the management of chronic diseases, remote health monitoring has the potential to significantly improve quality of life for patients. It’s no surprise that this technology is becoming increasingly popular.


  5. Self-Service Kiosks
    By providing patients with access to self-service kiosks they can check-in when they arrive at the practice and update their contact details if required. This activity can occur without intervention from practice staff, which allows them more time to focus on activities that are more valuable to the practice.

 

Summary
There is an on-going need for practices to do more with less, while improving patient service levels. Harnessing technology effectively to drive efficiency in your practice will produce impressive savings. If you would like to explore the technologies that are available to drive efficiency then call Medtech today on 03 9690 8666, we provide Practice Management Software, Telehealth Solutions, Patient Portals and Self Service Kiosks.



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