Chiropractic Billing Software - How it Improve Collections and Patient Retention

If you purchase and implement the right chiropractic billing and practice management software, the software can dramatically improve your collections, billing, and patient retention. That's because the software methodically tracks and reports on all collections activities from a summary to the lowest transaction level and also because they software keeps complete and accurate records of patient visitors and related activities.
One key to success in any practice is for the doctor to be freed up from routine activities such as record keeping so that he can focus on caring for patients and generating profits for the practice. Bottom line, collections and patient retention will dramatically improve with the right system.
Following is a list of key features a chiropractic billing system should have to improve collections and patient retention:
For collections, features you should look for include:
· Automatic flagging of money owed by the patient upon check in for a new office visit so that this can be discussed at the front desk
· Aged report of amounts due for collection
· Ability to sort outstanding amounts by patients and to mail those patients overdue collections notice on a triggered automatic basis
· Extensive reporting of unpaid claims by insurance companies so that outstanding amounts in collections can be efficiently followed up on.
For patient retention, features you should look for include:
· List of patients who missed visits
· Automatic scheduling of phone calls to patients who missed visits. In fact, some systems provide for automatic dialing of reminder calls to patients who have missed visits
· Generation of postcards for mailing to remind patients of upcoming visits
· Generation of a list of patients with scheduled appointments for reminder phone calls. In fact, some systems make the calls automatically and provide a recorded message reminding the patient of the call
· List of patients who are out of compliance with their care plan.
· Coding of reasons for missed patient appointments
A chiropractic billing and practice management system can quickly pay for itself strictly from a collections and patient retention perspective if a good system is corrected and implemented correctly.
Just consider the example of patient retention. Patient retention is about patients not missing appointments and continuing to rely on you (as opposed to another medical practitioner) for their health and the treatments you provide.
For patient retention, if the average treatment plan for a patient was twenty visits, if you handle two thousand patients a year, and if your patients missed ten percent of their appointments, the lost revenue would be substantial since in total your practice would have lost revenue from four thousand missed visits. If you valued the income from one visit at thirty dollars, your practice would have lost $120,000 in potential revenue. Not only that- since some of these patients were probably not complying with their treatment plan because of missed appointments, their health would be less than optimal and they might not recommend others in need of services to you.
Billing Precision, LLC, is a leading-edge chiropractic office profitability management solution. Its all-in-one Internet-based system includes accountable and transparent billing service, state-of-art touch-screen SOAP notes, advanced patient scheduling, and real-time monitoring for compliance and audit exposure. Billing Precision's unique value stems from its ability to level the playing field with payers and get chiropractors paid in full and on time by capitalizing on modern Internet technology and billing network effect