How Can EHR Software Increase My Practice Revenue?

EHR software has proven to increase practices' revenue and profitability thanks to its intuitive features that streamline operations, increase clinicians and staff's productivity, and boost patients' engagement and visits, all while providing the best possible care to patients.

How EHR Software Can Increase Your Practice's Revenue and Profitability

If you are wondering how your EHR software can increase your practice's revenue, allow us to break it down for you.

1. Going digital and paperless

One of the most beneficial aspects of EHR software is that it can turn a whole practice digital by eliminating paperwork. Going paperless can help your practice in so many ways, including:

• Saving your staff time on paperwork and going through physical patient records
• Cutting down on paper costs, office supplies, transcription costs, and physical file storage

Over time, your practice will become 100% paperless, and its operations will become more seamless and more productive.
 

2. Claim processing

The best EHR software pack has a built-in claims processing feature, which simplifies the whole process as the old way required extensive documentation for claim reimbursement. Doctors and clinicians using an EHR software will have access to easier and faster documentation of their patients' visits, which lessens the time needed to process claims and qualify their eligibility.
 

3. Improved efficiency

EHR software can boost your practice's revenue by simply providing doctors and clinicians more time for patient visits. The EHR features that can do that are the following:

• Pre-built templates for each patient's visit depending on their diagnosis or health status, where doctors can easily take notes.
   
• Speech and handwriting recognition provide doctors will more time to note their documentation during patient visits.
   
• Electronic prescriptions can have patients' prescriptions sent directly to the pharmacy before the patient finishes their appointments.
   

4. Government incentives

The government's Medicare EHR Incentive Program can help your practice transition to an EHR system and provide you with reimbursement that could add up to $44,000 for over five years. Another government incentive program is the Medicaid program, which could provide reimbursement of up to $64,000 over six years.
 

5. Reduced liability premiums

Using an EHR can reduce your practice's medical malpractice as all aspects of a patient's health journey are well documented. Harvard Medical School conducted a study that concluded malpractice claims were almost one-sixth of their previous rate after adopting EHR software.
 

Best EHR Software Recommendations

Now that you understand how EHR software can help boost your practice's revenue and profitability, allow us to present you with the top three EHR software recommendations on the market.

1. Epic

For our top recommendation, we offer you Epic's EHR software. Epic is known as one of the best EHR software providers in the market. With over 43 years of experience in delivering the best medical solutions, Epic has earned an A+ rating and accreditation from the Better Business Bureau.

Epic's EHR software supports practices of any kind and size and will offer yours a unique pricing plan according to its needs. As for its features and solutions, Epic's EHR offers the following:

• EHR/EMR software with customized modules for each practice type
• Telehealth
• Revenue cycle management
• Managed care with built-in CRM
• Payer-provider collaboration
• Patient flow
• Beds and medical devices integrations
• AI and analytics

2. Cerner

Cerner is our second recommendation for one of the best EHR software in the market. It has been providing medical software solutions for over 40 years and is also accredited by the Better Business Bureau with an A+ rating.

Cerner was also the first U.S owned healthcare IT company to earn the ISO 9001:2000 certification, which is a globally recognized stamp of service quality and the organization's commitment to continuous development.

Cerner's EHR top features include the following:

• EHR software
• Practice management
• Hosting and monitoring
• Managed services
• Health and wellness consulting
• Analytics software
• Customer relationship management (CRM)
• Community care management
• Revenue cycle management

Cerner does not advertise any subscription plans or prices for its medical software solutions; it will rather customize a unique price according to your practice's needs and size. The easiest way to reach their team is by calling them at +1.866.221.8877.

3. athenahealth

athenahealth is our last recommendation, as it offers complete EHR solutions. It is ranked number one in KLASS 2022 for its EHD and Practice Management products. Its medical solution supports practices of any kind and size and will offer you a personalized price depending on your practice's needs.

As for its features, athenahealth offers you the following:

• Electronic health records
• Revenue cycle management
• Practice management
• Patient engagement
• Telehealth
• Advisory services
• Platform services and integrations