We all know the financial pressures that private practitioners are under right now.
While there’s nothing we can do about eye-watering energy bills and rising interest rates, we’re intent on delivering the best return for ePractice users. There are three plans to suit every budget but each will help you keep your business on track – and in profit – when the going gets tough.
Here are five ways that being an ePractice customer can benefit your bottom line:
1. Increase Productivity
Find more efficient ways to tackle time-consuming admin processes. For example, Membership Enquiry (ePractice Lite and Pro) lets you check a patient’s insurance status in a fraction of the time it takes to make a call to the insurer. You can enter the correct fee on an invoice at the click of a button with our Guideline pricing tool. What’s more, if you’re recognised as a controlling specialist on a hospital invoice, you can use Auto-population to generate an invoice which automatically inserts the correct patient and episode fields (ePractice Lite and Pro).
2. Improve cash flow
Prompt, accurate invoicing combined with effective credit control is the best route to a healthy cash flow position. Create invoices in only four steps using the Quick eBill option and submit to insurers using the Clearing Service for instant validation or to other payors via patientzone.
In ePractice Lite and Pro you can use our payment tracking tools to speedily allocate payments to the correct invoices and keep your accounts up to date. Our clever tech can even do the reconciliation for you for some insurers with our electronic remittances service. In the event of a shortfall, you’ll be prompted to reallocate the debt and can automatically generate a shortfall letter for the patient, complete with invoice details and outstanding balance.
3. Make informed financial decisions
Accurate financial forecasts and budgeting can only be done with real-time reporting. This is easy with the wealth of options in ePractice Lite and Pro, from a basic aged debt analysis to a sophisticated earliest service and payment transaction summary which gives an instant insight into practice activities, invoices and payments. All financial reports can be exported in a PDF or csv file format.
4. Free Support
If you’re struggling with any aspect of ePractice the Help and Support section of our website has loads of useful resources, including how to guides and contact details for our friendly Customer Services team – you can call or send us an instant message via the website and we’ll get right back to you. Our experts are also on hand to guide you through the many time-saving features of ePractice with a range of free online tutorials. Visit the Healthcode Academy to find out more and book a session.
5. Ease the tax burden
As well as being one of the most competitively priced practice management systems out there, the cost of your ePractice plan can be offset against tax, reducing your payments to HMRC.
Want to know more?
For more information about how ePractice can benefit your practice finances, please contact our Business Development team.
