One of the most crucial choices modern suppliers and providers face is deciding whether or not their current billing system or EMR is meeting their needs. Is it time to explore other alternatives? In our most recent webinar, Joey Graham, Prochant’s Chief Revenue Officer, broke down the process of choosing the correct billing system for your HME business.
A new billing system should never be an impulse buy. Instead, it has to be a well-thought-out, calculated decision. This webinar covers the four steps healthcare companies need to follow before purchasing a new billing system.
Step 1: Decide Whether or Not It’s Time to Start Looking for A New System
- You have to be absolutely positive your business has the necessary resources to make the transition.
- Resources consist of not only money, but also time. Higher ups have to dedicate a significant amount of time to implementing a new system.
- Cash can’t be tight. System changes are going to disrupt your business until you become familiar with its functionality.
- Is your current system antiquated and lacking certain components which prevents you from achieving your business goals?
- Does the system in place not support the size or scale of your business?
- Does it lack integration ability? Systems have to be able to interface with other systems.
Step 2: Identifying the Most Important Features and Benefits
- Ability to custom program
- API (Application Programming Interface): when two systems have the ability to communicate with one another and are capable of passing data back and forth
- Various forms of automation
- An EMR or billing system with workflow capabilities
- Data access and reporting software that makes it easier to extract data from a system to report on it
Step 3: The Billing System Selection Process
- Typically, it takes around six months to make a selection. For some providers, it may take up to two years to reach a decision.
- Directly engage with all major vendors who offer software that is compatible with your business’s needs. Doing so will enhance your understanding of the different options available to your business.
- See the system you’re considering purchasing in action before buying it. A demo provides a bug-free, best case scenario situation. See how the software operates in real-time in an environment comparable to your business before investing in it.
- Buy a billing system that’s priced appropriately for your business.
Step 4: The Dos and Don’ts for Choosing the Right Billing System for Your Business
- Don’t fall victim to paralysis by analysis. Dedicate the appropriate amount of time to your decision, but don’t overwhelm yourself.
- Seek help. Don’t be scared to ask questions.
- Be open to changing your processes.
- Don’t cut corners on implementation and training.
You get out of an EMR or billing system what you put into it. If you allocate the appropriate amount of time to setting it up correctly, it will properly serve you well into the future. With how influential your billing system is to the success of your business, you don’t want to miss all the valuable information mentioned in this webinar. Hear the full presentation below:
Prochant has a proven track record of helping HME and pharmacy providers meet their financial goals. Our scalable solutions, years of experience, and advanced technology provide best-in-class results to the healthcare community. Headquartered in Charlotte, North Carolina, our client base includes national pharmacy and HME providers and health systems.