How does your medical practice deal with its revenue cycle management? Working with the flow of money into and out of a practice is as important as providing proper care to patients. Without the funds, after all, a practice ceases to function. Thankfully, there are a lot of ways that organizations can improve their relationship with their revenue. Many groups take too long to collect, allow too many write-offs, or use technology that is unoptimized for collections. Some have a very high claim rate denial or fail to follow up on denied claims. Finding out how a given practice can improve its financial situation requires knowing exactly how it is failing to capitalize on available opportunities.

Due to the intricate nature of specialty physician practices, dissatisfaction among these doctors is often rooted in the implementation of a solution that’s not fit for their specialty or practice. With 77 percent of specialty physicians attesting to this issue, it’s no surprise that a recent survey conducted by AmericanEHR Partners and the American Medical Association (AMA) discovered EHR satisfaction is trending in a negative direction. Compared with a report in 2010, satisfaction among physicians has decreased from 61 percent to just 34 percent satisfaction in 2015.

Trying to organize your schedule of patient appointments can be a lot like driving with a cup of hot coffee between your thighs—it can be a refreshing pick-me-up when the cup is filled to a proper level. If the cup is too full, however, you’ll more than likely just get burned (not to mention you’ll have to spend the day with coffee stained pants). Okay, on second thought, that might not have been the best simile for this particular situation.

Healthcare spending in the United States is estimated to have hit as much as $3.1 trillion in 2014. That roughly calculates to about $9,700 spent on healthcare for every person in the country. Compared to 2013, healthcare spending among Americans experienced a growth of 5.5 percent last year. This is the first time since 2007 that growth in healthcare spending has gone above five percent.

Technology continues to grow and expand its reach throughout the industries of society. Perhaps technology’s greatest impact is being felt in today’s healthcare world as the increased implementation and use of electronic medical records has revolutionized how physicians and patients are involved in their healthcare.

For specialty healthcare practices, patient engagement is no longer a “nice to have.” It’s a key differentiator. Practices that empower patients to take an active role in their care consistently see better outcomes, fewer missed appointments, and stronger loyalty, as indicated in a recent study published by the Journal of Patient Experience.

According to Health IT, 79 percent of all providers report that their practice functions more efficiently after the implementation of an EHR. Still, it's important to consider the ways in which we can continue to use these technologies to optimize documentation practices.

Selecting an EMR vendor is more than just implementing the software, it’s a relationship, too.