Control Claim Flow Visually Using Radar Software
Do you worry about insurance claims payment delays? Peace of mind is hard to come by when you don’t have control over your chiropractic claims process since this affects your practice cash flow negatively. If you cannot track and predict your cash flow easily your business is doomed to die. To make matters worse, you drive away patients when you are stressed out, which further hinders the growth of your chiropractic clinic. Ultimately, you cannot achieve any long-term profitability without sufficient growth. Since seeing patients is your priority, you can’t make time to micromanage each chiropractic billing aspect. Addressing the large amount of failing or rejected claims is virtually impossible with limited resources. Nevertheless, you need to follow up on your chiropractic claims to avoid reduced cash flow for your practice. Inconsistent and ineffective chiropractic billing performance can have many culprits including incompetent or untrained staff. But no one can adequately keep track and follow up on all underpaid and denied claims without effective chiropractic software. However, not correcting these claims can affect the entire practice negatively since they will be forgotten and as such increase the percentage of your AR past 120 days. In fact, you need to track your active claims backlog in order to evaluate your chiropractic billing performance and AR. Managing a chiropractic office is a balancing act of multiple Key Performance Indicators (KPIs), though. It can be challenging to prioritize tasks as many chiropractors tackle easy problems first before they focus on more important matters. Instead of just putting out random fires you need to see the big picture consistently if you want to improve your claims workflow management and chiropractic billing performance. In order to do that you need a centralized organization of tasks and performance. Hence, it is vital to choose the right chiropractic software functionality. Naturally, your practice has a unique workflow that can only be supported by configurable and customizable chiropractic software. Yet, learning new chiropractic software can be a hassle many chiropractors would rather avoid. For that reason you should focus on ease of use for workflow management when evaluating possible chiropractic software solutions for your office. Moreover, all data should be displayed in an easy to digest way so you can complete a meaningful analysis on your own without wading through long and boring text reports. You should be able to look at multiple aspects of your practice at once, just like the snapshot Genesis’ Practice Health Monitor (a.k.a Radar) provides. To improve teamwork every member of your staff can also see this Radar chart on Genesis’ Home page every time they log on. You don’t need to waste time on compiling your practice stats, including claims status since data collection is automated. Furthermore, you and your staff can monitor trends to detect any problem areas before they cripple your practice performance. In order to track your practice performance over time and measure any improvements, you only need to customize your workflow KPIs. Genesis’ daily radar analysis and consistent follow ups in form of monthly Health Checks with your Coach further provide support to help you reach your goals.
Is Your Chiropractic Software A Piece of Junk?
The word “Guarantee” is good, but No Regret is what you really want. I bought an iPad about three months ago and it is obsolete today. Sound familiar? Imagine if it cost $15,000? What if your software is obsolete in 3 years? Don’t believe that can happen? Things are changing faster than you think. I’ll come back to this. I am about to show you the how “owning” chiropractic software is not only a misnomer (Sales ploy used to make you “feel” good about spending your hard earned money) but one of the riskiest investments you can make in your practice. While companies promise you it protects you, it actually leaves you and your practice vulnerable. I will debunk the big fat myth that it costs your less money to “own” a chiropractic software, (which you actually never do), and show you how you can guarantee that you will not regret your software decision. We will discuss the REAL cost of the two main types of systems and pricing models. Web bases systems vs. Client Server (The one they say you “own”) Data Protection – The biggest lie told today is that somehow your data is safer in your office. It is it better to backup your data offsite regardless. It is useless without the software anyway. Just ask doctors who were in the path of Hurricane Sandy which is better. In the end I will show you how web based systems like, Genesis Chiropractic Software and Billing, pay for themselves and possibly even put some money back in your pocket. Price Comparison SaaS (Software as a Service) – Is a pricing model. Today it is usually reserved for software that is web based. In the past other chiropractic software used this model and charged upwards of $700 per month. They got away with it for years and eventually switched to the “purchase” model. SaaS charges a smaller monthly fee with little to no upfront fees. Let’s do the simple math Some systems on the market are as cheap as $12,000. Compare that to the cost of a SaaS product at $250 per month. $12,000/$250 = 48 month. In other words, at $250/month it will take 4 years before you pay the same amount! Read on and you will see how you can go from 48 months to 60, 100 or unlimited months. Meaning it will never cost you more than $12,000 to use a system like Genesis. But then I own it after 4 years! Really? Do you own the code? Can you tell the company what to build next? What if they go out of business two years later? More importantly REMEMBER the iPad… When you “purchase” you are not buying software, you are buying a license to use the chiropractic software. The company that supports that chiropractic software could be gone tomorrow. Big Difference. If that happens your license is useless. Unless you want to buy the code. I promise you, it isn’t cheap. When you “purchase” you still need to pay for upgrades. $50 per month. Subtract $50 from the $250 that SaaS offers since upgrades are included in the SaaS model (that’s the service part of Saas). With that factored in 4 years becomes 5 Years Remember the iPad. I know what you are thinking, I get upgrades. True you get upgrades. You can buy new computers and they will send you the upgrades so what’s the big deal. Here it is. There are actually 3 things you need to be concerned about. The hardware – That is the actual computer. Those will need to be replaced on an ongoing basis regardless of what type of system you buy. The software code – This is what words are in the code, if you will. In other words you can add new paragraphs to a document in the English language. With software more words equals updates. The system adds function, features etc. That is great. The language – The breath of options is limited to the language the software is built in. When you buy a software you buy it knowing full well that the language your system will be written in 5 years from now has NO Chance of being upgraded. The language is the language. The reason Google is so successful is due, in part, to the fact they are constantly evolving the language they use. It’s not just the words. The capabilities are increasing because the language is changing. Since they are also web based they can upgrade their systems and you don’t see they difference. Just amazing new function. This is the same with your practice software. Software you buy will be limited in just a few years as web based systems language AND code rapidly change. Not so with client server systems. So you are paying a fixed fee because the functionality is fixed in time with today’s language. Clearing House Fees -Included with Genesis billing – $50/month with other systems – Now it takes 6 years to pay the equivalent of other systems. Network Maintenance – With web based systems, computers do not need to be networked together. Only connected to the web. Other systems require a server and network which will cost $1,000-$2,000 to set up. ….. Figure another $50 per month for upgrades to hardware, maintenance for the computer guy to fix things when they break down, and down time….. 8 years easy. Are you betting static software language is going to be as cutting edge in 8 years? Data Backup Service – $25/month 8.5 years (included with web based systems like Genesis.) Peace of mind – Infinite peace of mind. Genesis data center was in the path of hurricane Sandy and experience zero down time. Some clients who lost their office where able to be back up and running instantly with a wireless laptop or iPad. The didn’t lose any data. Others weren’t so lucky. Now what if they paid you? Why not? SaaS systems have it built into their price to have a referral fee. We pay
