Physician practice managers offer healthcare companies a viable solution to improve their processes and patient satisfaction.
The daily demands of operating and running private medical practice are becoming a burden for many clinics and private hospitals. The solution? Tapping physician practice management companies (PPMCs). Here are eight reasons why healthcare companies are increasingly acquiring PPMCs or medical practice management companies.
1. PPMCs take over the non-medical tasks
PPMCs take over the non-clinical business concerns, administrative tasks, and staff management. Some of the services PPMCs provide are in the following areas:
- Human resources and recruitment
- Equipment and facility leasing
- Compliance
- Technological and informational support systems
- Marketing and promotion
- Public Relations
- Daily operations management and administrative work
- Accounting and bookkeeping
- Billings
- Insurance verification, claims submission and collection
- Contracting
- Financial management
2. Acquiring PPMCs allows healthcare companies to focus on patients
As implied in the previous number, physician practice managers are essentially employees who fulfill roles outside the clinical scope — this allows medical professionals to have their 100% focus on their patients, resulting in the highest quality care. For instance, a PPMC staff can do all the administrative tasks involved in medical transactions for a specific doctor, like appointment scheduling and insurance verification. This way, the doctor only has to worry about the health concerns of the patient.
3. Healthcare companies can efficiently manage their budgets with PPMCs
Acquiring PPMCs works like outsourcing administrative tasks for these healthcare companies. Private hospitals, for instance, can outsource recruitment services to help fill in their medical rosters instead of hiring their own recruiters. Not only will this save time, but it will also cut down the costs of hiring professionals as PPMCs already have the mechanisms and technologies needed. Instead of having to set aside a sizable budget for hiring their own staff for administrative functions, healthcare companies can opt to acquire the services of PPMCs, allowing them to save significantly on salaries, office spaces, and other technologies.
4. PPMCs provide management expertise
Physician practice managers are god-sent for healthcare companies who are in dire need for proactive and efficient solutions to management woes. These medical practice managers have expertise on solving complex administrative issues across all segments, be it in the accounting, human resources, or even in marketing and promotion of health practice.
5. PPMCs help healthcare companies with streamlining and organization
Given that PPMCs shoulder all the administrative work, healthcare companies can benefit from processes that are more streamlined and organized. Healthcare companies can tap the help of PPMCs in looking for new ways or tools to organize patient files, manage calls, verify billings, or streamline intake processes.
6. Improved patient care and satisfaction can be achieved with PPMCs
With administrative tasks off out of their plates, healthcare providers have the capacity to put all their efforts into patient care, which can lead to greater satisfaction levels among patients. Patient experience will also benefit from the improved processes initiated by physician practice managers, especially in areas of scheduling appointments, insurance verifications, and payment of medical bills.
7. PPMCs can introduce technology to simplify processes and reduce human error
PPMCs integrate digital tools and technologies into onto processes to make them simpler and greatly reduce the likelihood for errors. They employ automation to increase the accuracy of processes, which is beneficial to both medical professionals and patients. Digital tools and automation are often used for some administrative tasks, freeing up a huge chunk of time that can be used instead to develop new ways to improve other processes.
