7 Signs you are due for a software upgrade
With rising compliance and regulatory concerns, and more competition, providers need to be able to rely on a solution that improves operations, finds new revenue streams and support the growth and success of all business areas. Here are 7 ways to determine if your business is ready for an update.
1. Your Software is Not Providing a ROI
If you invest in a technology service, you want your investment to produce results. HME providers with outdated software might have a tough time tracking sales orders, customer/patient information, inventory and compliance guidelines in one system. The results can lead to delayed or lost data, decreased revenue and lost referral sources. Software should not only connect you to your data, it should enable you to see all areas of your operation in one place. Real-time visibility into your business performance can help gain a deeper insight into your operations, and increase efficiency and your ROI.
2. You Rely Too Much on Spreadsheets
In the healthcare industry, errors can be expensive. HME organizations waste significant time and money using manual processes for documentation and compliance. More importantly, these outdated techniques put these organizations at greater risk of having patient data compromised. To help you overcome these issues, you need a Document Management solution and a Mobile Delivery Management tool that can help you eliminate missing papers, spreadsheets and sticky notes, all by reducing your DSO by 30%-40%. An effective delivery management solution provides quick and intuitive access to electronic documentation in the field, improves communications with delivery drivers, maximizes productivity, and ensures accurate billing and audit aspects of your facility.
3. You are not audit ready
A provider may not know whether a file meets all of the requirements until an audit occurs, due in part to a lack of effectiveness in its document management process. A proper management process includes the right technology. This will help staff identify and collect the data necessary to be in compliance. It will also improve financial reporting by identifying possible errors, especially with the ever-increasing volume of data that companies deal with.[Regulatory issues are stated upfront. Introducing fraud at the end of a sentence without more does not add a lot of value.]
4. Poor Visibility of Data for Decision-Making
Providers need to track and measure metrics and key performance indicators, but many struggle to do this efficiently. In some cases, you have plenty of data but can’t find the right data when you need it. Other times, it’s difficult to pull the data into a unified view to see how different aspects of the business work together. Without a more comprehensive business management system that automates and integrates information across the business, it’s more difficult to manage, measure and make the right decisions as a business grows. Invest in a solid business intelligence solution that will help you oversee every aspect of your operation in real time.
5. Not Enough Resources to Grow the Business
Do you spend too much time on day-to-day business processes? It’s tough to carve out the time and resources to do things that will really move your business ahead, like handling your resupply department. Upgrade to a program that will improve your business efficiency and profitability by achieving a higher percentage of contacts versus manual resupply efforts using phone, email and text messages. Best-in-class technology enables providers to track patients who may be eligible for resupply by launching automated, intelligent patient contact campaigns to reach patients.
6. Can’t Connect your Organization to the Healthcare Industry
Organizations that outgrow their software have a hard time integrating with other applications and business systems. Updated technology allows you to share data efficiently between systems with fewer errors. It connects you to referral sources, clinicians and others instantaneously. Providers who do not embrace interoperability may ultimately be displaced as the industry goes in that direction.
7. You’re only a number
When it comes to technology, HME providers have to ask, can it handle my unique and sometimes complex business? Is it flexible enough for what comes next? They must also ask, how will this technology be supported? Can my technology partner help me customize the software and programs to fit my needs, or am I just a number to them?
At Brightree, customer service is our first priority. We work hard to know our customer’s business, how it runs and how it can be improved with our solutions. From solutions consultants to implementation specialists to support reps, we stand behind our technology. Our Patient Resupply solutions handle more volume than any other solution in the industry, in large part due to our Performance Concierge Program that helps providers fine tune their patient contact management and resupply business for efficiency and maximum profit margins.
Brightree offers the most advanced cloud-based business management software in the HME Industry. Unveil the potential growth strategies of your business, improve internal processes and find new revenue streams. With Brightree, you will have a trusted partner who has the resources and experience to track the current and future state of your business. Take a step forward and join us for the journey towards sustainability and prosperity, your business will thank you.
Call us to set up your personal demonstration at 1.888.598.7797.
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