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Reboot your Data – Part 1

3 Ways to Reboot your Office’s Healthcare Technology 2020

And just like that it’s the new year. Have you begun to think about the resolutions you’ll make for 2020? As we dive into the new year, we look ahead with hope and promise to make changes for the better.

But what happens when you don’t feel inspired or know what changes to make?
Over the next few weeks in this series, we will discuss three ways to approach managing and measuring how your practice is operating today, identify areas for improvement and implement change.

Unlock data and reporting to make your software work for you.

As the year ramps up, our accountant friends gear up for the upcoming tax season. Soon, we’ll begin to gather data and reports to close out the year. Some practices note that they only do an administrative and operational evaluation at or after tax time. Does this sound familiar? Do you rely on, or consult reports for more than only the day to day routine? From tracking to reconciliation, reporting is a key feature of practice management software and offices would be lost without it but, the question stands, are we maximizing its use?

Analyze data and trends to improve profitability.

It is said that analyzing data and trends can improve practice profitability. This sounds good in theory but how can a practice realize those improvements? Consider this, what if you had the ability to fill those unfilled appointment openings, reduce no-shows, avoid last minute cancellations, analyze outstanding balances, and evaluate ineffective processes? Would those help the practice become more profitable?

The answer is yes, and the data to support implementing change is more accessible than you may think!

How to begin an evaluation.

There are three steps to begin this level of evaluation. First, focus on a specific area at the practice. Are there issues with appointment scheduling, either overbooking or gaps? Is there a need to reduce the time in getting paid for services? Once you define an area to investigate, the next step is to obtain data to analyze the situation.

If canned or built in reporting doesn’t give you the information you are looking for, reach out and ask if it is available. Often, there are ways to create custom reports or views to help monitor and evaluate these areas of focus.

Evaluating of the current environment is like diagnosing a patient. Assess symptoms, issues, and inconsistencies. Similarly, data can be presented over time, concept, or sequence.

In the next article, we’ll look at the next step in the evaluation process. We’ll discuss how to turn the data into a “story” in order to make insightful connections, enhance practice operations and make decisions that positively impact profitability and productivity.