Recent studies show that medical offices lose between 25% and 30% of their revenue as a result of undercharging, lost or non-submitted charges, improper follow-up, and erroneous coding. Electronic health records (EHRs) are used by certain medical practices to help with medical billing concerns, but they won’t be able to handle all of your challenges. It might be frustrating to try to pinpoint the exact causes of revenue department problems. Here are three hidden factors that could be causing your medical practice to go broke.

3 Major Reasons Why Your Medical Practice Is Losing Money

1. Patients Leave Free EHRs Because of Unwanted Features

Some of the free EHR options can seem to be exactly what your medical practice needs to increase productivity and control costs. The problem is that these solutions can have drawbacks, most notably the possibility of having unseen characteristics that your patients might not find desirable.

For instance, emails posing as product reviews from doctors could be sent to patients. It’s possible that doctors are totally oblivious that this is taking place. These aspects may be deemed objectionable by patients, who may then find another doctor if they are concerned about how their data is being utilized.

2. A lack of employees After a Successful EHR System Implementation

Simply transferring your employee numbers from paper records to your new EHR system is all that is required. The procedure itself requires more assistance. During the transition, your practice will probably still be open. The new system then has to be learned. But now that everything has been completed, fewer employees are needed. Without the assistance of your additional workers, your medical practice must operate as efficiently as possible.

3. A High Number of No-Shows

Having a medical policy that allows you to charge for people is helpful if you experience frequent no-shows, but if this problem persists, you must understand the cause and find a solution. An EHR system or scheduling tool that contacts patients back when they have appointments set is an option.

Messages may also be sent by text message or email. When you call a patient later in the day, it’s likely that they won’t pick up and will instead try to cancel or reschedule after your office has already closed. If you have a pattern of individuals not showing up for appointments, having a medical policy that allows you to charge for them might be helpful. However, if you have a large number of people not showing up, you need to figure out why this is happening and how to fix it.

Electronic Health Records (EHR)

You can have an electronic health record (EHR) system or scheduling application that automatically contacts patients back when their appointments are due to take place. In addition to that, it enables the sending of messages via email or SMS.

When you call a patient late in the day:

It is likely that they will not pick up the phone, and then they will try to reschedule or cancel their appointment after your office has closed for the day. There is also the option to send messages via email or text message. When you call a patient later in the day, there is a good chance that they won’t pick up the phone, and instead, they will try to reschedule or cancel their appointment after your office has already closed for the day.

If there is a trend of patients not showing up for their scheduled visits, it may be good to have a medical policy that allows you to charge for missed appointments.

However, if you have a significant number of people that do not show up, you need to determine why this is occurring and how to correct the situation. You can use an electronic health record (EHR) system or scheduling application that automatically contacts patients back when their appointments are due to take place.

Addition

In addition to that, it makes it possible to send messages by either email or SMS. When you call a patient late in the day, there is a good chance that they will not pick up the phone.

If this happens, the patient will most likely try to reschedule or cancel their appointment after your office has closed for the day. Additionally, emails and text messages can be used to communicate with the recipient. When you call a patient later in the day, there is a good chance that they won’t pick up the phone, and instead, they will try to cancel or reschedule their appointment after your office has already closed for the day.

If you notice that a certain percentage of patients do not show up for their scheduled visits, it may be beneficial to create a medical policy that gives you the authority to bill those patients for their missed appointments.

On the other hand, if you expect a great number of people but they don’t show up, you need to figure out why this is happening and what you can do to rectify it. You can use an electronic health record (EHR) system or a scheduling tool that automatically contacts patients back when their appointments are due to take place. In addition to that, it permits the sending of messages through either email or SMS (short message service).

Call a Patient

If you call a patient late in the day, there is a good chance that they will not pick up the phone. If this happens, the patient will likely try to reschedule or cancel their appointment after your office has closed for the day.