16/08/2024 | News release | Distributed by Public on 16/08/2024 20:31
Written by: Joel Cox, Expert Solutions Specialist, Veradigm
Growth is a key aim for many healthcare organization leaders this year. So far, the outlook is positive. Healthcare profit pools are moving towards pre-pandemic levels and are expected to grow by a compound annual growth rate (CAGR) of 7% until 2027. Predictions are especially promising for increased patient volume in outpatient clinics, which are expected to grow by 16% by 2032.
However, practices eager to return to levels of pre-pandemic revenue and increase patient volume must face the continuing healthcare workforce shortage and rising costs of staffing clinics and caring for patients. The 2024 Physician Flash Report by the advisory firm Kaufman Hall shows that while net patient revenue per full-time provider is up 4% in 2024, total direct expenses per full-time provider are up 3%. In other words, financial growth is tempered by growing costs.
Healthcare organizations must take a multidimensional approach to increasing patient volume during this challenging time. Adding services? Yes. Making existing services better? Yes. Optimizing the use of staff time? Absolutely. Growth is on the horizon, and healthcare leaders can achieve it by making the most of existing services and incorporating fresh ideas.
Improving the patient experience and operational efficiency can increase patient volume. Although this looks different for each practice, common themes include making the best use of provider time, increasing patient satisfaction with services, and incorporating services that add value.
Patients often must wait for weeks, if not months, to be seen, and the frustration impacts their satisfaction with the clinic. Also, for patients with urgent mental or physical health needs, putting off a visit to their healthcare provider can negatively affect health outcomes. Efficient scheduling, in contrast, helps patients see providers sooner for check-ins and more urgent appointments. Well-cared-for patients are more likely to become advocates for your practice and rate it highly on public-facing web platforms-which can lead to increased patient volume.
Streamlining scheduling can fuel practice growth. Predictive Scheduler uses artificial intelligence and predictive analytics to forecast patient demand for your clinic each week. The tool can help you hold slots open for high-need patients and fill no-show and cancellation appointments. The Predictive Scheduler also helps distribute patient visits across available providers, so resources are well used, and patients receive optimal care.
Consultations help practices make the most out of their scheduling tools. Veradigm offers this service to clients via an assessment called Optimization Readiness. Scheduling experts pull one to two years of practice and provider historical data to analyze practice performance across 40 key efficiency and effectiveness metrics, then use the data to generate insights into potential areas for improving scheduling inefficiencies. Coupled with the Predictive Scheduler, Optimization Readiness can help practices boost scheduling for optimal growth.
Another way to turn patients into advocates for your practice and organically increase patient volume is to make it simple for them to remember and access appointment information. Proactive patient outreach transforms taking care of one's health into a seamless experience-one that patients will want to recommend to others.
A comprehensive patient outreach strategy includes tools that empower patients to take an active role in scheduling and provide clinic staff with efficient ways to communicate with patients. Mobile Patient Experience from Veradigm FollowMyHealth is a popular solution to help practices boost patient outreach through both approaches. Features available are:
Patients can securely access these tools on mobile devices, helping them get information directly. Office staff can also batch and customize communication, increasing efficiency and effectiveness of patient outreach.
Providing a high quality of care through efficient workflows helps practices grow. Satisfied patients are more likely to return and recommend the clinic to friends and family, which helps build your practice's reputation, leading to increased revenue and number of patients served. Patient satisfaction can be boosted by providing top-notch care.
Veradigm EHR helps healthcare providers improve the quality of care they offer patients. The software integrates with existing workflows and can increase efficiency through features like one-click templates, which let providers document patient visits based on previous visits instead of starting from scratch. Veradigm EHR tracks the history care clinicians have given in previous treatments and provides relevant options based on the current diagnosis and symptoms, what the clinician typically orders and what the practice would like to encourage. Detailed and comprehensive documentation is critical for accurate and efficient care delivery that supports the best patient outcomes.
The EHR also supports more informed patient care through features providers can use while meeting with patients. For example, Veradigm RxTruePrice allows providers to access patient-specific drug price information during visits. Patients will leave the clinic knowing how much their medicine will cost, how to find discounts or more competitive pricing, and therapeutic alternatives. This transparency leads to more informed, empowered, and satisfied patients.
Incorporating tools for communicating with patients once they leave the clinic can also boost patient satisfaction and health outcomes. For example, patients can use email check-in services in Veradigm FollowMyHealth to contact providers after hours with questions about a recent visit. The application initiates a secure exchange between a provider and patient, where the patient can relay concerns and get answers without scheduling another visit.
Practices can continue caring for patients after their visit by sending them educational materials, visit summaries, and instructions via the patient communication platform. Practices can also use software like Veradigm FollowMyHealth to remotely monitor patients using wireless or wearable devices. This helps providers track patients' health during daily activities and initiate interventions as needed to improve treatment outcomes.
Accommodating more patients during staffing shortages means working smarter, not just harder. Staff must be able to handle larger patient volumes without the influx hindering workflows. Healthcare providers and front desk, back office, and administrative staff work as a team and must be well-equipped to make the most of software solutions that support practice growth. Investing in training and ongoing education ensures staff have the resources they need to thrive.
Veradigm offers a training program called Education and Optimization to help Veradigm EHR and Veradigm Practice Management clients make the most of their software. Because every practice has unique challenges and workflows, the E&O program is tailored to meet the needs of each practice. It includes a menu of blended learning opportunities so that practice staff can learn in the way that works best for them-whether through onsite lectures and workshops, virtual instructor-led classes, or self-driven, web-based courses.
Partnering with a single vendor for the software solutions needed to support your growing practice has many benefits over picking multiple suppliers. Choosing a single provider simplifies managing contracts and integrating software with existing services. Partners like Veradigm also have the ability to incorporate other software solutions that meet the specific needs of your practice through application programming interface (API) software.
Learn more about how Veradigm's suite of tools can help you achieve your goals for your practice's growth.