Practice Management (PM) software is sometimes called a Physician’s Office Management and Medical Information Systems (POMIS). This software helps by reducing physicians and their administrative staff by reducing redundant tasks and the chance of error.
Practice Management (PM) Software has the potential to enhance clinical workflow as it can provide merit-based incentive opportunities (MIPS), improve the quality of care and reduce reimbursements delays. Medical Practice Management (PM) Software is generally available in Cloud-based or Server-based capacity with the integrated or modular-based (stand-alone) approach.
Main Features of Practice Management (PM) Software
To have a good understanding of how a Practice Management (PM) software works, it is advisable to learn about the different features and functionalities of the software. Before choosing a Practice Management (PM) Software, you should check if the software has the following key features:
Automated Billing – A Practice Management (PM) software must offer automated medical billing including the complete verification of insurance claims and eligibility criteria.
EHR Integration – Option of incorporating an Electronic Medical Records (EMR) system within the software to ensure better record keeping.
Tracking Claims – The top Practice Management (PM) software must allow users to track multiple claims across the revenue cycle.
Coding – The PM software must allow the addition of HCPCS (Healthcare Common Procedure Coding System), CPT codes as well as ICD (International Classification of Diseases) codes.
Patient Scheduling – The software must provide customized patient scheduling with the capability of being color-coded which helps in indicating appointment duration and time.
Automated Alerts – The top PM software must be able to send automated electronic reminders to patients through SMS or email. This reduces the chances of no shows and also helps in maintaining the volume of fixed appointments.
Patient Demographics – The Practice Management software should enable the recording and verification of all patient demographics with registered insurance providers.
Reporting – The software must provide practice reporting based on various customizable parameters like billing, scheduling, ICD codes, etc.
Insurance Card Scanner – The PM software must offer an insurance card scanner that swipes insurance cards and reduces the risk of fake claims.
Security Access – The Practice Management (PM) software must allow administrators to set up individual passwords and different access levels for every user by providing each of them customized security access.
Top 10 Practice Management (PM) Software by EMRFinder
Many Practice Management Software vendors offer a lot of features but providers mostly find them redundant or perceive them as a marketing gimmick. Some of these features are actually very helpful as they are advertised, but what should concern you is whether they are relevant to your particular practice or not. You really need to look at your workflow to determine the administrative aspects of the EHR and also consult your provider to ensure that the software you are choosing only provides those features and not more than what you need.