It is no secret that small healthcare practices are often struggling to survive in the wake of the Coronavirus Pandemic. Unfortunately, this period comes on the heels of even more bad news for small practice owners. As of 2017, less than half of patient care physicians had an ownership stake in their medical practice, according to the American Medical Association.
Owning a small practice today comes with unique challenges as a clinical provider and business owner, but it’s not all doom and gloom. Successful small practices are everywhere. After more than 17 years as a company, MacPractice has continuously responded to the ebb and flow of the independent doctor/owners by developing new tools especially suited to helping small practices find success in trying times. We’ve curated this list of the tools successful small practices swear by.
Choose Specialty-Specific Workflows
Selecting the right software for your small practice changes everything. Many small practices may not see themselves as cutting edge or even technologically inclined. These practices may fear the initial investment costs of equipment, training, hiring technical staff, and IT system maintenance will not be worth the outcome when using the wrong software. Quality practice management and compressive clinical software like MacPractice MD, MacPractice DDS, MacPractice DC, and MacPractice 20/20 that are developed especially for your specialty are designed with productivity enhancement and simplicity in mind. Better yet, we understand small practices.
Productivity Enhancing Tools
Even successful small practices often find that they lack extra staff and technology that could increase productivity. We’ve found that the right tools can pay for themselves. MacPractice has carefully selected the services we partner with to find those that provide productivity enhancement that most benefit small to midsized practices. We’ve built quality tools like Autoremind, which facilitates two-way texting and patient reminders, directly into our software for seamless, integrated enhancement.
With setbacks as sudden as this pandemic, a lack of available capital and stretched budget may sometimes have small practices struggling to fit in enough patients to increase their revenue stream and even cover the bills, despite their agility around protocols and disease prevention measures. We recognize that especially the small practices we are proud to call our clients and our partners often need greater flexibility in financing options to get started or even to fund their existing implementation another year. MacPractice has recently introduced the opportunity to apply for financing through North Star Leasing Company.
Expert Helping Hands for Billing
As a small practice owner, you may find that billing and claims management takes up as much of your time as practicing your specialty and caring for patients. Small practices in these situations can significantly benefit from hiring business services, including qualified healthcare revenue cycle management and billing services like MacPractice Billing Services, to avoid inefficient billing, staff turnover, and management stress. Our expertise frees up the provider’s time to focus on patient care. Practices that hire MacPractice Billing Service are boosting billing to recoup more money with professional help and saving money by avoiding hiring and training a new biller as a staff member.
Small practices allow doctors and other staff to understand patients and their healthcare needs more intimately, see patients more regularly, and adapt to new protocols with a community-minded, local focus. Enterprising Doctor/Practice owners are an essential part of our communities and the overall healthcare landscape. MacPractice is proud to partner with small practices.