A good EHR, like the system offered by Eye Care Leaders, will allow you to build your own queries on any data field to find patients, data, and other key points. Built-in data mining tools will give you a ton of flexibility, such as the ability to search by address, payment status, claims denial, and even medical condition. https://eyecareleaders.com/ehr-data-mining-drive-revenue-for-eye-care-practice/
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How EHR Data Mining Can Drive Revenue for Your Eye Care Practice
1. How advanced analytics can bring more revenue to
your eye care practice
Data is the new frontier in American business today. Data can be used by
smart organizations to do a host of important things, such as:
Learn more about their customers
Turn what was learned into improved user experiences
Personalize interactions with customers, particularly B2C
customers
Improve loyalty to your business
Create better products and processes
Improve the quality of the services you offer
Reduce costs
And more
The use of data in business, of course, has been around for years, but it
was mostly the domain of large businesses that had the time, resources,
and staff to collect large amounts of data and then analyze it and then
actually use it to create new processes, improve relations, lower costs, and
more.
But now, a new era of tools is making it easier than ever for businesses of
literally any size to collect data that can be used to improve their operations
and put money in their pockets. For eye care practices, this data generator
can be found in the form of electronic health records.
Using electronic health records to generate data for
your eye care solutions
An electronic health record, of course, is an electronic version of a patient’s
medical history that providers maintain over time. It can include a wide
variety of information about the patient and their condition, including test
results, allergies, medication history, surgery results, preferences, and
more, and though various interfaces can be used to make appointments
and send and receive secure messages.
When used properly, an electronic health record (EHR) can be used to:
Reduce medical errors by improving the accuracy and clarity of
medical records
2. Make health information available to all relevant parties, which
reduces delays in treatment and makes both patients and
health care providers able to make better- and better-informed
decisions
Electronic health records can be used to gather a wide array of data about
patients and your practice. These data can include:
Demographics: Age, sex, gender, and race
Diagnoses: Diagnosis, severity, and medical history
Lists of problems: Active diagnoses and resolved diagnoses
Medications: Prescriptions written, and OTC medications
suggested or taken
Vital signs: Body mass index, weight, height, and blood
pressure
Lab data: Radiology, pathology, and other important reports
Lab orders: CBC results and HbA1C levels
Immunizations: HPV, IPV, Hep B, COVID-19
Allergies: Food allergies, medication allergies, and latex
allergies
Advanced electronic health records are also being utilized to record and
store a new generation of emerging data types. These emerging data types
may include:
Genetic information: Genome sequence data
Bio sample data: Meta data about a biological sample
Social data: More detailed demographic data such as income
level, education, and employment status and career field
Patient-generated data: Communications to and from the
patient
Surveys: Any surveys the patient has filled out
Geo-spatial and community specifics: Community
specifications and neighborhood-built environment
How can patient data impact patient engagement?
All these data points can be put to good use if you have the right consultant
on your side, and when used correctly, can help you realize a return on
investment for your electronic health record system investment. Clinical
and financial data can, for example, be used to better drive revenue cycle
metrics, which is a top priority for many clinics that are seeking to gain
efficiencies and cut unnecessary costs. And the data can be used in other
ways – for example, charity work, often an inexact science that takes a
3. great deal of back-office time and resources, can be simplified using
demographic data that reside in electronic health records.
How can optometry EHR data impact an eye care
practice’s revenue cycle?
Electronic health records are where you will find the nuts and bolts of
patient payment information, including registration, insurance eligibility,
authorization, revenue capture, coding, claim scrubbing, denials, and more.
With the right cloud based EHR system, the delivery of care is recorded
instantly. This can lead to faster claim generation and cut out they need for
a lot of review by back-office support staff. The automated processes bult
into a good practice EHR system can cut down on input errors and claim
denials.
Electronic health records can also be used to assist in revenue integrity.
This can cut down on revenue leakage and even compliance risk through
these of internal controls. Data and analytics in EHRs can quickly analyze
accounts, for example, to see if a charge is missing or obviously incorrect
based on the clinical procedure or a pre-set list of parameters.
Do you have trouble with claim denials? Smart electronic health record
systems can address denial management by breaking down processes to
find the root cause of a problem, whether it is with a specific insurer or a
specific product or clinician practice.
Put EHR data to work in your eye care practice’s
marketing
Data from EHRs can also be used to benefit your marketing operations. By
digging into your data, you can:
Automate compliance measures
Facilitate agent marketing
Put together enrollment kits
EHRs can help you mine data and increase revenue
– but only if you choose carefully
Every electronic health records software system is slightly different and will
have slightly different features. To use it to the best of your abilities, who
need a system that you and your staff can use effectively and with minimal
training. Key to data mining to increase your eye care practice’s revenue is
4. that you will need to have powerful search and query tools that supply
support for the types of analyses you want to engage in.
A good EHR, like the system offered by Eye Care Leaders, will allow you to
build your own queries on any data field to find patients, data, and other
key points. Built-in data mining tools will give you a ton of flexibility, such as
the ability to search by address, payment status, claims denial, and even
medical condition.
EHRs can be the solution you are looking for if you want to earn more
revenue for your eye care practice. To learn more about EHR tools
from Eye Care Leaders, contact them today.