Wednesday, July 8, 2020

Published 5:14 AM by with 0 comment

How TeleHealth can enhance your practice revenue

Profitability is healthy. It allows one and one's practice to stay financially secure. Implementing a TeleHealth program is a low-risk, high-reward way to get there.

Here are some ways how:

Reduce No-Shows and Cancelations
The most valuable asset in any medical practice is the doctor's time. When a patient doesn’t show up or cancels at the last minute, the doctor's time is wasted. Unless a strict no-show policy is in place and enforced, 
 this time and the associated revenue can’t be recovered 

Tele visits help keep no-shows and late cancelations to a minimum by making it more convenient for patients to keep their appointments. 

Allow More Visits without staff overheads

Because tele-visits are easy and require no real overhead, except for a laptop or a phone, most doctors find that they can schedule them easily even from home. 
Telehealth also gives practices and doctors the option of expanding their consulting hours. What’s more, if someone calls to cancel an in-person appointment, it may be possible to simply change it to a tele-visit instead.

A doctor scheduling in a couple of tele-visits a day will be able to pile up a considerable amount of revenue from the tele-practice. For example, a doctors who just conducts 3 tele-visits a day, at an average reimbursement of $50, will earn around about an extra $50K in revenue in the year.

Increase your reach beyond your local geographical limitations.

When people know they won’t have to go into the office for every visit, they can consider doctors at a distance. They may pick that physician that their friend in another city always speaks about. They can pick that doctor they used to go to before the changes residence. And, they can feel more comfortable getting second and third opinions on their prescribed care.

Improve the Efficiency of Office Staff
Over time, Tele-visits result in fewer patient visits at the office, thus making the wait times better for patients who do come in, and reducing the pressure on your office staff.

This results in higher customer satisfaction for patients. This also frees your team up to do other tasks or to focus on finding opportunities for improvement within the office.

Related reading from the TrueTeleHealth blog "Using Telehealth to optimize health worker staffing needs"



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