Ask any private practice medprenuer, developing a profitable private practice is a challenging endeavor. No other “business” has so many variables that effect potential for growth than the Private practice owner. For this reason, Go Cardconnect, a payment processing company with patented Healthcare patient payment technology, is exploring multiple methods for medical practices to streamline office procedures, improve practice efficiency and create a more profitable practice.
Interested in Improving your Practices Profitability today?
The first segment of our three-part series addresses Patient scheduling solutions and how medical providers can now leverage technology to improve both the patient and provider experience. To understand more about this topic and offer, we’ve interviewed many top appointment scheduling solutions and medical providers to understand the impact his technology has to improve efficiency.
First, let’s explore a typical appointment request. The first step for the patient is to explore their options for care. Perhaps they get a referral from their Primary Care Physician, or they check with their insurance to see which providers are within their network. Either way, the prospective patient will research reviews of your practice on one of many practice review sites, and will likely end up on your medical website in an attempt to gain a better understanding of you and your practice.
Now, let’s consider the timing of this encounter. If all goes well, and the prospective patient feels comfortable booking the appointment with your practice, they must pick up the phone to call and book the appointment. But, when is the best time to call? So long as your office is open, and the prospective patient can reach the right person, the appointment request will proceed. But what happens when the patient calls when you’re closed? Will they leave a message? Will your office be able to reach the prospective patient? Will they remember to call back when you’re open? Will your practice even know of this prospective patient?
Let’s assume the prospective patient connects with your practice, during regular business hours, and wants to book the appointment. The average time it takes to book an appointment with your office will range between 3-5 minutes. With most medical providers seeing between 75 to 90 patients per week and an average of 3 providers per office, the time spent by office staff scheduling these appointments ranges between 11 to 22 hours per week.
Now, imagine leveraging technology that can keep up with your scheduling rules while letting your patients book appointments on their own terms, directly from your website. Wouldn’t it be great? Letting patients book their appointment online reduce office staff workload, increase patient engagement, and contribute to your paperless medical office. All of these factors that are crucial in order for the clinic to thrive and create a more profitable practice.
This win-win situation is possible when using patient scheduling solutions based on business rules engine and a systematic approach to the appointment scheduling logic. The rule base engine will improve efficiency within your clinic and, as a result, grow practice revenue.
Following are some key facts provided by Odoro, a technology company with a rules based scheduling solution designed specifically for medical providers:
- Move up to 70% of new appointments to self-service
- Streamline office procedures by up to 50hrs per month, per practitioner
- Increase patient satisfaction and engagement by 85%
- Multiple appointment setting options – Allow patients to book appointments using Website, Mobile, IVR or a Call Center
- Collect payment at time of scheduling and reduce No-show rates by up to 85%
While there is no single solution that can help streamline your medical practice, offering your prospective patients the self-service functionality of booking their own appointments is surely a step in the right direction. Further, securing the appointment with either a deposit or an authorization for a nominal fee will help eliminate no-shows for your practice.
Increase profitability at your private practice today!