Posted on September 22, 2020
This blog article will explain the importance of therapy practice management, highlighting benefits like staying organized with billing, scheduling clients, etc.
No matter what type of business you’re running, it’s important to stay organized if you want to be successful. You entered your line of work because you wanted to spend your time helping people, not tedious clerical work. But, such is the sharper side of the double edge sword of owning a private therapy practice. In today’s world of ever-increasing technological advancements, many private practices are choosing to integrate practice management software and third party services into their daily administrative tasks so they can spend more time being a therapist, and less time as a bookkeeper, appointment scheduler, and receptionist.
In a digital landscape, not only do patients use online therapy matching service, but they demand more convenience when it comes to booking. In fact, an Accenture survey showed that 77% of patients think that the ability to book, change, or cancel appointments online is important. It’s time to upgrade your therapy practice management so you can have more time for patient care, and patients have less obstacles to overcome to get help.
We realize that deciding whether or not to use a practice management platform is an important decision. Because this type of platform can encompass so many critical parts of your business – appointment scheduling, client forms, insurance navigation, billing processes, etc. – it can quickly become your new best friend or your new worst enemy.
To ensure the former, it’s important that you choose the practice management system that best matches your particular private practice’s workflow. And, the easiest way to guarantee you make the right choice is by understanding the core features they provide.
A good practice management platform will play a major role in how to be a successful therapist by expediting many administrative tasks that would otherwise slow down your daily operations. Client portals, for example, take much of the burden off of the front desk (or your desk, let’s be real) by allowing clients to schedule appointments, make payments, and fill out intake forms online through a trusted service.
Did you know that automated appointment reminders have also been shown to reduce the number of patient no-shows by as much as 60%? This isn’t just an annoying inconvenience, it’s costing you money. In fact, some estimates show missed appointments cost single practitioners as much as $150,000/year.
Insurance isn’t just complicated for patients, it can be difficult for providers to manage as well. Finding a practice management system to help simplify the process is one of our tips for new therapists to stay organized and stress-free. It doesn’t matter if you’re currently paneled or an out-of-network provider; insurance coverage is an inescapable part of having a therapy practice. Leveraging a platform to help make sure patients understand their plans, and make sure you never have to wait for insurance reimbursements can help free up your time, satisfy patients, and keep your books current.
The days of playing phone or text tag over scheduling can be over. There are many platforms and services to help with online appointment scheduling, meaning your clients are able to view your availability and schedule (or request) an appointment through a secure online portal. Plus, now that online appointment scheduling is commonly done through HIPAA compliant platforms, people are also much more comfortable making payments for their appointments through an online client portal. Not to mention, the added convenience of scheduling an appointment or paying their bill through a secure client portal at any time, day or night (whether your office is open or closed) is a great way to upgrade the quality of service your patients receive and increase patient retention.
No matter how seasoned a clinician you are, medical billing codes can be tricky. As much, many practice management solutions can help you or your clients submit claims to payers in a timely and appropriate manner. With another layer of assistance and expertise that comes with a practice management solution, it’s actually possible to increase the number of claims that are accepted the first time they’re submitted. Some practice management software will even provide you with a breakdown of all revenue so that you can determine which types of clients/services show the greatest promise of financial growth for your practice.
If you’re looking for a therapy practice management solution, Advekit can help. Learn more about how to start saving time and money by joining today.
Alison LaSov, LMFT
Alison LaSov is a Licensed Marriage & Family Therapist with experience treating clients struggling with anxiety and depression. She predominantly focuses on mental health intervention for children and adolescents, particularly those who are in crisis. She has worked within the Los Angeles education system treating students with Individualized Education Plans (IEPs), as well as supervised a non-profit Teen Crisis Hotline out of Cedars-Sinai Hospital. Alison earned her B.A. from UCLA and M.A. from Pepperdine University. She is a native to Los Angeles and co-founder at Advekit.