If you manage a medical office, you may find yourself (and your staff) overwhelmed by the amount of data entry you perform on a daily basis. Although you likely have more computerized patient and treatment information than ever before, you may struggle when it comes to measuring the data you collect — let alone using it to make money. Fortunately, there are some simple solutions that can help you use data to grow your revenue. Read on to learn about selecting the right dashboard for your medical office.
What data should your medical office focus on measuring?
A medical office is a business like any other and to remain viable, you’ll need to know where (and how) you’re losing money, as well as what you can do to improve these figures.
Compiling and measuring data like the average amount of physician or nurse practitioner time spent per patient visit, the number of denied insurance claims (and what prompted denial), and even the amount of time it takes your office to generate a bill can give you some insight into potential money pits for your organization. Something as simple as a 2-week delay in sending out billing information can put a crimp in your cash flow, while multiple insurance denials based on your staff members’ failure to obtain preauthorization for certain procedures may prompt you to schedule some additional training.
What criteria should you keep in mind when selecting your dashboard solution?
Before implementing a solution, you’ll need at least a rough idea of what you hope to gain from utilizing a data dashboard and what data you’d like to measure. This will make the process of weeding out potential vendors much easier.
First, it’s crucial to ensure your data dashboard will allow you to import data in all the formats you keep. Unless you’re willing to transfer your data to a compatible system that will permit import or upload, a dashboard will be of only limited use. You’ll want to choose a product that can compile a great deal of data kept in separate formats.
You’ll also want to consider your dashboard’s security measures. With the potential for sizable financial losses from each inadvertent HIPAA breach, choosing software that will keep your patients’ medical information confidential is key.
ClicData has the expertise to help healthcare companies grow their revenue and maintain data security without bogging you down with features you don’t need. With the ability to automatically import data from just about any digital source on a prescheduled basis, as well as real-time notifications that can alert you to new trends, you’ll find your routinely collected data more useful than ever.