
Jesse Vogel, Chief Revenue Officer, ProsperityEHR
“Return on investment” is a regular topic of conversation among our current and prospective partners. It makes sense – when you’re paying for something, you want to know it’s worth it. And in behavioral health, it has to be worth it, because your margins are too tight to survive otherwise.
Time and again, I’ve seen behavioral health practices bolt on stand-alone technology solutions that promise to improve some aspect of their practice operation...only to find that the new technology doesn’t meaningfully connect with other systems, there isn’t a good way to report out of it, or it comes with the price of adding manual steps to existing processes.
The math needs to work. And unfortunately, adding a slick piece of technology does not always subtract time or cost, when evaluated holistically. As a practice grows in scale and complexity, it’s imperative to measure the ROI a technology partner delivers across the practice.
The importance of measuring platform-wide ROI
My philosophy on ROI is anchored in the way I was raised. I can still hear my dad’s voice: “Be useful.”
For the ProsperityEHR team, usefulness is all about delivering value. You are in the business of connecting with patients, so the value we deliver is centered around enabling and strengthening those connections in every aspect of your practice. Here are some of the specific ways that value manifests.
For patients, it’s about the experience
Whether banking or shopping online, your patients are used to a simple, frictionless and engaging digital experience. And they carry those same expectations into your practice.
What does that look like? Digital intake and assessments from the comfort of home. Flexible online appointment self-scheduling for in-person and virtual visits. SMS and/or email appointment reminders. And good grief, stop sending so many paper statements and instead offer convenient electronic payment options.
Doing this right can translate to significant time and money savings for your practice. It enables you to:
- Significantly reduce the time administrative staff spends collecting and transcribing intake information on the phone and in person.
- Reduce the time providers and administrative staff spend scheduling appointments.
- Reduce no-shows with appointment reminders.
- Increase cash on hand by making it easier for patients to pay you quickly.
For providers, it’s about minimizing frustration and reducing cognitive load
Provider burnout is real, especially in behavioral health. The cognitive load it takes to stay compliant and profitable, added to the mental energy it takes to meaningfully connect with patients, can be overwhelming. You need to reduce the “pajama time” providers spend at home spent catching up on work – or you risk losing your providers.
There are better ways. It’s now table stakes for providers to use digital tools to quickly and efficiently write intake, progress and discharge notes. Medication management, in-workflow PDMP, e-prescribing, ordering and lab results must be seamlessly integrated into fast and safe digital workflows. We have to reduce the number of tasks providers need to remember on their own, and guide them to take action, when appropriate.
Focusing on provider efficiency impacts your bottom line. It allows you to:
- Eliminate third-party lab ordering, resulting and associated faxing and administration fees -- as well as third-party telehealth fees.
- Improve provider experience, reduce burnout, and decrease staff turnover.
- Increase provider capacity.
- Enhance recruitment opportunities (especially important to grow a practice).
For revenue managers, it’s about investing more time in high-value tasks
No margin, no mission. Revenue cycle leaders have to figure out ways to get reimbursed as much as possible, as quickly as possible. Today’s technology advances old-school approaches. This includes an integrated clearinghouse for real-time insurance eligibility checking, claims submission and ERA posting. Automate intelligently with rules-based charge and claim editing, e-statement and payment processing, integrated credit card processing and flexible payment plan features.
Pro tip: Stop spending money to get paid for balances you are already owed. Automation allows your staff members to spend less time on basic tasks, so they’re freed up to focus on higher-value work.
We will show you the money. You can:
- Reallocate existing staff time to more high-value, revenue-generating activities.
- Realize significant potential cost savings by replacing paper statements and integrating credit card processing.
- Consider an estimated $0.35 per statement cost savings, plus significant staff time savings in printing, stuffing envelopes, etc.
- Increase cash on hand.
- Grow the practice without adding (as many) support/administrative staff.
We don’t just provide the software – we use it too! If you only want to focus on the clinical portion of your business, we also partner with practices to outsource their RCM/billing services. Our expert, onshore team has a proven track record of maximizing financial outcomes.
For practice administrators, it’s about streamlined operations and scalability
What keeps practice administrators up at night? For many, it’s about how to operate efficiently and grow the practice.
These operators must be able to holistically manage patient intakes and comprehensively manage the practice’s schedule. They need to be able to streamline audits by ensuring their note templates elegantly guide and remind providers when writing session notes and updating treatment plans. They need on-demand reports to track compliance and measure results. They need efficient ways to release information – and to track those releases.
How do we empower Operators? By enabling them to:
- Reallocate support staff time to more revenue-generating activities: patient payment collection, denial prevention and follow-up, etc.
- Leverage standard and custom reports to uncover opportunities to increase efficiency and improve cash flow.
- Grow your practice (add providers) without adding support staff.
Maximize your ROI with ProsperityEHR
We understand that you’re in the people business, and everyone involved in your practice must focus on connecting with your patients. And while we’re a technology company, we are powered by people who are driven to deliver value. Our mission is to improve access to behavioral health care for all, and we will help your practice realize a positive ROI.
To learn how we can help your team, schedule a demo today.