| Bankers don't make many routine withdrawals | | | | Office business, they will have to embrace more |
| and deposits; they have the ATM and Internet | | | | integrated technology with dissimilar and |
| Banking. Banks are not open late at night or | | | | competing systems if they want to remain viable |
| weekends. ATMs are. Internet Banking System | | | | in the immediate future. And we are seeing an |
| are. Bankers don't manually record inter-bank and | | | | accelerating trend among some vendors to |
| intra-bank transfers. They have sophisticated EDI | | | | collaborate on moving vital data between their |
| systems that make all the transfers, record all | | | | different systems. One alternative is to use an |
| the deposits and withdrawals, and make all the | | | | outside consultant to develop and implement data |
| payments. Banks did the math and made good | | | | exchange among your particular systems. This |
| business decisions. | | | | can be very effective because it addresses your |
| Bankers DO make loans, they set up new | | | | specific needs. It can also be somewhat |
| accounts, they do the research and solve | | | | expensive. Do the math. |
| problems that cannot be handled by their ATM, | | | | In the late 1980's fax machines began to be |
| Internet Banking or EDI systems. | | | | readily available in most large offices and some |
| What do Medical Offices and Clinics have? | | | | smaller offices. By the mid 1990's fax machines |
| Electronic claims, electronic remit posting, EFT | | | | were a necessity in nearly every business, |
| (Electronic Funds Transfer), electronic exchange | | | | especially medical offices, and they were |
| of lab information and other data among internal | | | | everywhere including many homes. |
| and external systems, electronic data conversions | | | | A few years ago data conversions were seldom |
| (for billing information, medical record data and | | | | done in medium to small medical offices. When |
| every type of captured image). How many of | | | | purchasing a new system, Office Managers were |
| these do you have? | | | | told to start fresh with the new system and not |
| Filing claims electronically incorporates | | | | fuss with a conversion. Just add demographic and |
| clearinghouse services, automated scrubbers and | | | | insurance information as patients came in for their |
| computerized editors to check each claim against | | | | first visit after the new system was installed and |
| a myriad of "rules" and quickly get that claim to | | | | run out the Accounts Receivable on the old |
| the right insurance company. On the return side | | | | system. |
| Electronic Remit Posting will record payments with | | | | Today it is unacceptable to give up patient history |
| fanatic accuracy and in only a fraction of the time | | | | that has been accumulated over many years. |
| it would take to do the same task manually. | | | | Medical offices are just too busy to enter all that |
| Electronic Funds Transfer (EFT) options get the | | | | data by hand, again, when it is available |
| money in the bank 7-10 days earlier than when | | | | electronically. |
| paper checks are used. EFT never forgets to | | | | The need and requirement for Electronic Medical |
| make the deposit. | | | | Record (EMR) systems is increasing dramatically. |
| If you are not sure about the Economics of | | | | For clinics that have an existing EMR system, an |
| Automation in your office, i.e. getting your version | | | | electronic data conversion is essential. It is beyond |
| of an ATM, do the MATH. | | | | practicality to attempt to manually load Medical |
| For example, studies show it takes about 5 | | | | Record information a second time. It is a waste |
| minutes to post a claim manually and less than 30 | | | | of time and money to rescan and reload |
| seconds to post a claim electronically, and that | | | | thousands of Images. |
| includes time for verification. Similar statistics are | | | | Many, if not most, medical offices file claims |
| available for data conversions, database interfaces | | | | electronically while most continue to post remits |
| and electronic claims filing. Do your own study. | | | | by hand. That is rapidly changing and yet some |
| Then do the math. The results will be compelling. | | | | software vendors have not yet provided a way |
| Even without accounting for manual errors, the | | | | to electronically post remits. Getting an outside |
| cost savings will be obvious. | | | | vendor or consultant to provide this service is |
| Every year those comparisons will become even | | | | usually cost prohibitive. |
| more compelling. Why? Claims filing rules are being | | | | Another obstacle experienced by clinics is |
| added and made more complicated. Insurance | | | | obtaining the electronic remit files (ANSII 835) |
| companies are finding more ways to deny claims | | | | from insurance carriers. Experience shows that |
| and are doing it electronically. The information | | | | payers only return electronic remits for 60-70% |
| required to maintain an average patient record is | | | | of claims they receive electronically (ANSII 837). |
| enormous compared to a few years ago. It will | | | | Choose carefully the clearing house you use to file |
| continue to grow, dramatically increasing the need | | | | claims. Ask the questions, do the math and make |
| for an electronic data conversion or an integrated | | | | a good business decision. |
| interface whenever a new system is added. | | | | With all the computerized systems available now |
| Other examples could be cited but the point is | | | | and growing in number almost daily, the wisdom |
| clear, automation in the Medical Office is an | | | | of capturing data once and moving it electronically |
| essential component for efficiency and profitability. | | | | from system to system is an economic |
| Do the math. | | | | necessity. |
| The medical office simply cannot keep up | | | | If your software company does not offer cost |
| manually. More is being demanded of good | | | | effective and accurate exchange of data in all |
| employees every day and that trend will continue. | | | | their varied forms among dissimilar systems, look |
| Good employees want meaningful jobs, not | | | | for a company that does. Embracing data |
| mundane data entry work. Manual errors are | | | | interchange is a "must have" in the software |
| more costly today than they were last year and | | | | vendor you choose. |
| will increase in cost again next year. Reducing | | | | Whether you are buying or selling computer |
| manual and redundant data entry, in any form, is | | | | software, the Economics of Automating the |
| of paramount importance in the increasingly | | | | Medical Office strongly favor adding automated |
| narrow margins facing the modern medical office. | | | | systems where ever practical and obtaining or |
| As for software vendors competing for Medical | | | | providing integration among all systems. |