Technology has moved its sides faster than we even thought. These technologies are creating a serious impact on our lives.
Since the healthcare industry adopted new technologies in the early stages, they came with both advantages and disadvantages. Technology connected the healthcare practices in every possible way, say, emotionally, mentally, physically, and financially.
The disadvantages brought challenges for the healthcare industry and we are trying to highlight the top 5 sectors in the industry with burning challenges today.
Many industries predicted a shortage of doctors and medical staff by approximately 100,000 by 2030.
Recruiting capable staff members is something important but what more important is retaining them. To discover candidates that are the best fit for your practice, fulfil expectations more smoothly, match the job description, be available to references from internal staff, get input from existing staff, and respect your culture.
So staffing is one of the most frustrating challenges faced by the medical industry.
2. Software costs
Software is a major part of technologies. Even the top software applications are changing a lot. Most of the software now come with an advanced Appointment Management System, Laboratory Information Management System, and Patient Administration System that are powered by advanced technologies like AI and machine learning. The increasing software costs are another challenge faced by medical practices today!
3. Payment collections
Medical practices are trying to be more proactive while collecting patient payments.
Timely payment collection can be achieved by informing patients about the policies and processes in time. Payment plan options can also help in receiving timely payments.
Accurate medical coding and documentation are two main factors that cause a challenge in payment collections.
4. Insurance follow-ups
The cost disaster in medical services isn’t new. Numerous partners play a vital part in deciding the cost of medical services, going from medical device manufacturers to clinical medication production companies and payers to insurance policy companies.
Proactively checking with insurance agencies for co-pays and deductibles before the patient visits your facility one of the best practices to bring ease to patient pay collections.
5. Ethical dilemmas
Medical practices also must confront ethical challenges on the field today, as they deal with life-and-death situations, sometimes they can be pulled in different directions.
For example, how can a practice balance patient need with their ability to pay? Or decide on expensive end-of-life treatment that only delays the inevitable?
Following all the guidelines from Government authorities along with central & local ones can be hectic and thus it is another challenge faced by medical practices today.
Now some good news.
Although so many challenges are taking a toll on medical practices today, many better solutions are also arising to let these practices focus more on their work rather than these challenges.
Medical practices need to consider these challenges that arise with new technology and change the processes. To overcome these challenges in medical care, it is important they map the requirements and preferences of their clients and based on that make a concrete plan.
24/7 Medical Billing Services can help you find your ideal practice process across the entire United States. CONTACT our professional team of experts to get started.