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Best Practice Management Software | Top System in 2020

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Table of Contents

What is Practice Management Software?

Practice management software (PMS) is a category of medical practice software that is designed to offer advanced scheduling, patient registration, and assist with claims management, performs billing tasks and report generation. PMS, which finds its use in ambulatory clinics, hospitals, medical colleges and offices, is a seamless blend of administration, patient management and clinical management. It consists of modules such as appointment scheduler, reception management, medical charting, billing, pharmacy, insurance and inventory. 

Features of Practice Management System

A highly effective practice management software boasts a variety of features that streamline clinical workflows, automate billing, assist with claims management, lower overhead, and improve the overall administration of a hospital, ambulatory clinic, or office. PMS software offers several features to help you efficiently manage the day-to-day operations of your medical practice. Here are some of the key features to look for in a PMS.

1. Patient Information & Appointment Scheduling

Almost all information regarding the patients such as demographics, diseases can be accessed easily using efficient patient management software. Practice management software includes Appointment Scheduling functionality that allows you to track upcoming patient visits. Scheduling of patient appointments is an intimate part of a PMS as it allows seamless running of the healthcare organization by organizing patient appointment, patient visit history and resource management. A PMS takes the hassle out of appointment scheduling. 

2. Account Management

There are several types of PMS available in the market today, ranging from basic applications to highly sophisticated platforms depending on user-requirements. Many of Practice Management systems offer accounting functionality. Tracking hospital’s day to day income and expenses, keeping all records of reimbursement received from patients and recouping outstanding claims make work hassle-free for hospitals and clinics. 

3. Easy to Use, Customizable & Cloud-based

As is the case with many technologies, there is a need to train yourself and your employees to use PMS software. Some of the PMS are so complex that they aren't worth monetary investment for a small business. So it would be a good idea to choose a PMS software that has simple user interface. Choose a PMS that you can customize according to your business's unique needs. Get access to your PMS data anytime, anywhere from any device with an Internet connection by choosing a cloud-based PMS. 

4. Barcode Technology 

Several PMS have barcode technology that allows healthcare providers or nurses to scan medications before administering them to the patients. This ensures that the patient receives the correct dosage quantity and medications.

Advantages of Using a Practice Management Software

There are many advantages of using practice management software for the proper functioning of the hospitals and medical clinics. Some of them are explained below: 

1. Saves Time
Since PMS automates a good chunk of your operations, it can save you a lot of time. This will help you spend more time growing your business. 

2. Saves Money
There are many affordable PMS solutions catering to the need of small businesses. A comprehensive PMS solution eliminates the need to implement several tools to get the job done. This can result in the reduction of costs. 

3. Seamless Communication 
Highly developed communication is facilitated with the help of this PMS. The patient data is organized in an accessible and simple format. The software ensures centralized reporting enabling a single point of management software and zero redundancy in managing the organization’s records. 

4. Paper-less Transactions
Management provides full automation of all the functions of administration and achieves the goal of paperless administration. A right practice management software can help you save you from the piles of paperwork that once was waiting to bite your head off.  

Disadvantage of Using a Practice Management System

Though advantages of practice management software outweigh its disadvantages, there are also some disadvantages. The disadvantages include changes in workflow, security and privacy concerns and temporary loss of productivity. But the most critical one among them all is data security.

1. Data Security 
Data security is mission-critical in today’s world. There is no denying that any data processed outside the organization brings with it inherent risks. Hence it is in the essential fitness of things that those willing to adopt the cloud model should acquire complete information about the cloud providers who will be managing the data.

Points to keep in mind while buying Practice Management Software/System

There are plenty of PMS software providers available, which means you will be spoilt for choices when it comes to buying PMS software. Here are a few things prospective buyers should consider before buying a practice management software: 

1. Specifying PMS functional requirements 

While choosing a PMS it is an absolute must to make a clear and concise list of requirements before you start looking at vendors providing the software. Since there are so many features available, it is in fitness of things to figure out exactly which ones your organization actually needs. A PMS really need to be designed specifically for your business. PMS software should have stringent security measures to prevent data loss and cyberattacks.

2. Cloud PMS Vs. On-Site

With the growing popularity of cloud computing it's no wonder why many hospitals, clinics and offices are going for the cloud PMS. One of the benefits of these cloud based PMS is that they are accessible to the users from anywhere with internet access. Those who are switching to cloud based model are saving money and increasing profits. They have recognized the cost effectiveness of switching to the third party providers of the Cloud PMS solutions that cost less and are more flexible.

There are, however, pros and cons to both approaches of PMS deployment. For many businesses, a cloud-based or software as a service (SaaS) PMS is a preferred choice.  However, there other organizations, especially the large ones, may prefer to buy their PMS software and the hardware needed to run it. They are averse to the idea of hiring a third-party to run and maintain a critical business software tool.  

Managing the activities in a hospital is considered to be a difficult task. Each and every department is important to be handled effectively in a hospital. An effective PMS ensures profitability and decreases overhead. It allows you to take control of your workflow. 
Whether you are a big hospital or a small family practice, implementing practice management software will give you the freedom to spend more time doing what is important: paying attention to your patients! 

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Karan VasitaBy Karan Vasita | Last Updated: November 01, 2020



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