Does Your Therapy Clinic Need Practice Management Software?

You’re here because you are ready for a change, maybe a Practice Management Software is the answer that you are looking for. 

Signs Your Therapy Clinic May Need A Practice Management Software

-You would like to expand your services offered but your team is already at their workload capacity

-You are feeling overwhelmed with daily administrative tasks

-You are falling behind with insurance claims and are having trouble getting authorizations

-Your waitlist is rapidly growing but your clinicians do not have the bandwidth for more clients

-You want more analytical data and actionable insights for your therapy practice

-You’re having trouble with staff turnover for administrative and clinician roles

-You would like to get on more insurance panels but are dreading the additional work that entails

-You are going through an audit and are running into lost paperwork and missing signatures

If your SLP, OT, PT or multidisciplinary therapy clinic has been through any of these experiences, then it’s probably time to look into practice management software. A well-designed system will allow you to expand your services without sacrificing productivity. It will also make it easier for your staff to communicate with one another while organizing their schedules and tasks. 

What is Practice Management? 

The most basic definition of practice management is managing all the administration and business aspects of your therapy practice, often described as “non-billables”. These tasks and duties differ from the clinical roles which perform the actual speech, occupational, physical or mental health therapeutic services being provided by the clinic. It also includes training and supervising clinical staff and other administrative duties typically performed by a manager or supervisor.

Practice Management Tasks Include:  

• Day-to-Day Operations 
• Human Resources 
• Records Management 
• Client Onboarding 
• Client Communication 
• Staff Training 
• HIPAA and Other Regulatory Compliance 
• Appointment Scheduling 
• Billing and Insurance Payor Coordination
• Charge Capture and Invoicing
• Audit Preparation 

Typically, larger clinics will have a dedicated practice manager that is responsible for these tasks. Still, for a lot of therapy clinics, these functions are completed by the practice owner, receptionist, or administrative team. Most practice owners get to a point where they are spending hours each day on non-billable tasks and need a more efficient solution for the clinic to continue to scale.  

That is where Practice Management Software comes in…

What is Practice Management Software? 

Practice Management Software (PMS) is designed to streamline and consolidate all business operation tasks listed above allowing the therapy practice to run more efficiently. A good practice management solution will eliminate the need for juggling multiple software programs, automate busy work, and reduce the risk of human error. PMS often includes desktop-only software, client-facing software, a mobile application, or cloud-based software. PMS is often confused with electronic medical records (EMR) software. Generally speaking, the EMR system is used for assisting the practice on the clinical side while PMS is used for administrative and operational matters. Therapy practices will often find themselves using 2 separate software systems, one for the EMR and one for practice management so integration is a must. 

Benefits of Practice Management Software 

Practice management software is an essential tool for successful therapy clinics. It streamlines processes, reduces errors, allows for one system, grows with your practice, and provides actionable insights to ensure your practice runs as smoothly as possible.

Streamline Business Processes

Practice management software can help you organize your team’s workflow, from scheduling patients to billing insurance companies. It also allows you to store and access patient records in one central location, which enables staff members to access information about each patient whenever they need it.

Reduce Errors

With practice management software, you’ll have fewer errors on documents like treatment plans and insurance claims because the system automatically checks data entry for accuracy before it reaches your patients or payors. This saves time and prevents costly mistakes that can damage your reputation with patients and insurers alike.

One System for All to Use

When everyone in your clinic uses the same system to access patient data, they have easy access to everything they need without having to dig through paper files or email attachments, meaning no more opening multiple tabs on the computer just to find out who has upcoming appointments or what services they received last week. Your staff will love how cleanly you can manage patient information through one simple, central system. Most importantly, they won’t waste time searching for information that could be more efficiently spent helping patients.

Scalable: Software That Grows With Your Practice

With the right practice management software, you can grow your practice without having to worry about a system that’s not flexible enough to handle it. Make sure to look for practice management software that allows you to add features over time as your therapy clinic grows.  This allows you to add staff members, services, payors, and even new locations as your practice grows.

Provides Actionable Insights With Analytical Reporting

A practice management software provides actionable insights with analytical reporting, these insights help you make the best decisions for your business, staff, and patients. Having the ability to easily access data can help you make decisions that will result in more revenue, streamline processes and reduce staff turnover. You can also use this data to measure your own clinic performance against industry benchmarks, identify areas for improvement and stay on top of trends in your area of practice.

Features to Look for in Practice Management Software 

All in One Solution 

1 system, 1 vendor for all your services, OT, PT, ABA, Speech, etc. 

If you are currently using multiple systems for multiple services, then one of the main reasons for switching over to PM is so that all of your services are in one place. A well-designed PMS will have everything integrated so that things like client records, billing, and scheduling become easier than ever before.

Smart Scheduling & Payroll

These features help manage your appointment schedule and streamline the patient flow in your office. You’ll want to consider how many providers you have in your practice as well as how many staff members are needed to keep things running smoothly. Smart Scheduling allows you to filter clinicians by location, service type, and other demographic data points to find the right clinician for each client. 

Scalability 

We’ve already mentioned this, but it’s important enough to repeat. You want a practice management software solution that will grow with your practice — whether it’s in terms of patient volume or staff size. A scalable system gives you the flexibility to add staff as needed and expand to other locations or offices without having to upgrade the software or hardware. API integration is also important for maximizing the data you are collecting. 

Support 

When selecting a practice management software, consider whether support is included in the price and how easy it is to get help when you need it most — especially during those early days when everything seems like a crisis! What does the implementation journey look like? Is there ongoing training available for new staff or new features? Also look for live chat and phone support options, which can be helpful if you have questions about specific features or issues with billing or scheduling appointments.

Data Collection & Reporting

This feature allows you to access information about each patient without having to manually enter data into a spreadsheet every time they visit your office. It also allows you to generate reports that help you analyze key metrics such as profitability and provides actionable insights to proactively manage your practice. 

Billing Software & RCM Services

The best practice management software will offer integrated billing and revenue cycle management (RCM) services so you can get paid quickly. An integrated system also simplifies your daily tasks and makes it easy for patients to pay their bills online. Make sure your billing software will also allow you to send invoices, accept credit cards, and track patient payments.

Patient Portal 

A patient portal is a way for patients to access their appointments, session approvals, and insurance authorizations from home. A HIPAA-compliant patient portal also allows client records to be updated automatically, saving time and reducing human error. 

HIPAA Compliance & Security

HIPAA compliance means that your practice meets the requirements for protecting patient information according to federal law. Security measures include firewalls and antivirus software that keep hackers out of your system so they can’t steal sensitive client and business data.

Total Therapy May Be the Practice Management Solution Your Therapy Practice Needs

Practice management software is the most efficient way to run your practice streamline processes and get it organized. It provides you with the tools to succeed and grow as a practice. It is a must for every therapy clinic looking to boost its revenue and take on more clients.