How to Get Your Small Practice Profitable Quickly

Ask a new or small practice owner what it's like running a medical practice, especially during the pandemic, and they'll most likely give you a laundry list of challenges they're facing. New and small practices constantly grapple with various limitations, such as time, resources, and staff, making it challenging to maximize productivity and improve practice profitability.

New or small practices don't have the same luxury as larger, more established practices. They can’t always focus on patient care alone. The financial and administrative aspects are especially crucial in the survival of your business.

As a physician who wants nothing more than to take care of patients and help people, it's easy to forget about the amount of paperwork you'll have to do, regulatory requirements you'll have to comply with, and the burden of management responsibilities. Considering the complexity of running a practice, you might be wondering how small practice owners can expect relief. The answer is quite simple: a small practice software like billrMD.

Why a Small Practice Software?

According to a 2018 Medscape report, 32% of the 20,000 physician respondents said they spend 20 hours or more a week on paperwork and administrative tasks. That's a considerable amount of time spent away from your patients and personal life.

While it's unrealistic to think that you can eliminate admin work from your day-to-day entirely, you can still take steps to improve workflow efficiency to mitigate its adverse effects on care delivery, time management, and productivity.

Cloud-based systems like billrMD present a unique solution to small practices’ usual dilemma. Many of them are left to choose between spending a fortune on expensive practice management systems or keeping everything paper-based and suffering the consequences of workflow inefficiency like stunted business growth, less desirable patient outcomes, and physician burnout.

With billrMD, you'll have all the tools to streamline every facet of your operations, from patient scheduling and eligibility verification to claims submission and payment collection. Having practice software that does most of the work for you reduces overhead costs and allows you to better manage your time and resources.

Premium Features Without the Premium Price Tag

On top of its powerful features and user-friendly interface, one of the primary reasons billrMD is perfect for small practices is that it's easy to get started. You can already submit claims without shelling out a dime by simply creating a free account. A basic subscription doesn't require your credit card information, so you can rest assured that it's safe and risk-free. Plus, you'll be able to gradually onboard staff to the system without the pressure of a big-scale and immediate implementation.

Flexibility is essential for small practices to grow. That’s why billrMD comes with additional features and functionalities you can upgrade to as your practice grows.

The Advantages of Cloud Technology

As a physician and business owner, you will constantly race against time. Cloud-based platforms like billrMD, however, empower you and your staff to work from anywhere, helping you manage your time better. Especially during the pandemic, having the ability to work remotely ensures that your practice can continue operating even in worst-case scenarios like lockdowns.

Security is another area where cloud technology holds an upper hand over traditional, on-site systems. Plus, it's a more affordable alternative. Without the need for physical servers, you can save time and money on server installation and maintenance costs.

Cloud-based software like billrMD isn't just a practical and convenient solution; it's also secure. It's a HIPAA-compliant system that employs the same level of security that financial institutions use, such as strict password requirements and military-grade 256-bit SSL encryption. System updates are also automatic, so you can be sure that you will have instant access to the latest version at all times. billMD is built on cutting edge technology for the modern providers that use it.

One Solution to a Multi-Faceted Problem

In addition to a user-friendly, powerful system, billrMD's advanced services, like an RCM team and data conversion at an affordable rate, make the switch easy and quick. Integration with industry-leading clearinghouses provides the best RCM features and experience.

Improving practice profitability isn’t a linear path. It requires every aspect of your practice, especially billing and administration, to be as efficient as possible. With billrMD, however, you can offset the usual limitations of a small practice with a powerful tool — one that doesn’t break your bank but breaks the barriers to growth and success.