What’s the return on investment (ROI) on a physical therapy EMR anyway?

If you are a PT, OT, or SLP running your own private practice and considering a physical therapy EMR, you can see how much ROI an EMR can generate for your private practice. They are easy to find online with the Physical Therapy ROI Calculator.

What makes one EMR different from another?

There are many physical therapy EMR options available on the market. Choosing the right solution for your query doesn’t have to be a daunting task. During your search, it is important to always stay focused on the needs of your practice, not the software. Using an online ROI calculator and simply entering numbers like your average monthly visits, average net income per visit, annual income, number of unpaid claims, cost of billing per claim, percentage of appointment reminders reaching your clients successfully, and the number of no-shows and cancellations on the calculator can really help you see the potential benefits of going from paper to electronic. In fact, electronic medical records are fast becoming the way of the near future. In most cases, switching to a physical therapy EMR produces positive results.

Improve income

Physiotherapy software improves revenue and collection by allowing providers to instantly submit claims and receive real-time status updates through bi-directional clearinghouse integration. There are EMR physiotherapy systems that automatically capture all billable treatments directly from the PT’s documentation, so therapists always have support for a denied claim should it occur. Through this automated process, organizations have increased their charges by as much as 10-20 percent. The therapy practice solution can also alert you when a patient is approaching their authorized treatment limit and display the patient’s baseline status before each visit. All of these features of an EMR can significantly help improve revenue in your practice.

Reduce no-shows and cancellations

With private practice facilities averaging 12-18 percent no-shows and cancellations per year, appointment system reminders are emerging as a way to reduce or eliminate them all together. Your current automated reminder system could cost up to $ .25 / reminder. Manual calls consume staff time and are also costly. There are some physical therapy scheduling software that can automatically send text, phone, or email reminders to patients and are included at no additional cost. Make sure you opt for a software solution that offers automatic reminders at no cost; there really is such a thing.

Keep your referring doctors happy

Physiotherapy EMR systems can also help keep your referring physicians satisfied. Many of the EMR solutions out there are designed to strengthen relationships with referring physicians and ultimately help grow your practice. The great thing that some office management solutions offer is instant one-page care plan summary reports that provide referring physicians with information about their patients’ treatment, usually sent via fax or a secure online portal – all before the patient leaves the office.

Written by Besma Bihnam

September 15, 2020
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