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KKB Reviews Medical Practice Trends for 2015

KKB Reviews Medical Practice Trends for 2015

With the dawn of 2015, medical practices of all sizes are scheduling medical practice consulting sessions with advisors to set up their offices to best accommodate patients as well as the demands of 21st century healthcare. According to the Practice Profitability Index, 70 percent of physicians surveyed in 2014 spent more than one day per week on paperwork, an increase of 13 percent in the last year alone. As a result, many medical practice trends for 2015 are to help streamline an increase in administrative burdens.

Select the Appropriate Electronic Health Record (EHR) Tool

Many medical practices have found that the low-cost or free EHR tools that they implemented in an effort to keep costs down fell short of expectations. Many medical practices plan to replace their current EHR system in 2015, and experts stand equally divided regarding the benefits of a cloud-based versus an on-premises solution, even though the trend is to opt for a cloud-based EHR to avoid the upfront costs associated with new software and computers. Another consideration to provide the best patient experience is to follow The Institute of Medicine’s recommendation to have a tool that can accept data and capture input from patients themselves regarding their day-to-day experience.

Consumer Self-Service to Increase

Patient portals can help increase what patients are able to do without office assistance such as book an appointment online and review suggested procedure timetables. Some reports suggest U.S. providers could save $3.2 billion by increasing patient self-service not only by saving staff time, but also for the efficiencies realized in office management for such things as filling last-minute cancellations . It is also expected that doctors will prescribe health apps more regularly to get the tools for better health in the hands of patients.

Priority on Documenting—Everything!

To be properly prepared for auditing from state and federal governments as well as the new coding system, ICD-10, medical practices need to ensure their record keeping is impeccable. Even insurance companies will decline claims for seemingly innocuous errors such as forgetting to hyphenate a claimant’s name on the claim, if the name is hyphenated on the insurance card. Unfortunately, a simple omission like that could result in a delay of months for payment. Critical to ensuring comprehensive records are kept, is having the proper staff on board. Recognizing each employee as a critical member of the care team results in higher job satisfaction and performance.

How to Use This Information

The coming year is certainly one that presents several growth opportunities for medical practices, and our CPA firm is ready to support your medical practice through these changes to help your medical practice be successful. Please give us a call at 303-815-1100 or contact us online and let us know what support you need.

What do you see as your medical practice’s biggest obstacle in 2015?

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