Much of the talk surrounding the implementation of new healthcare information technologies is centered on EMR software and online patient portals, yet practice management (PM) software is just as essential to the functioning of a healthcare organization. It helps manage administrative processes and the financial aspects of a business, and it should be evaluated with the same criteria that is used to assess electronic medical record software.
The right PM system will meet your practice’s current and future needs, integrate with existing workflow, and have the 
capability to support future upgrades, such as the upcoming conversion to ICD-10. Systems that do not meet those needs can lead to significant coding and billing challenges, reduced efficiencies, and gaps in the revenue cycle. Therefore, choosing the right PM software – whether you prefer an all-in-one EMR/PM or a product that interfaces with your current system – is equally important to your organization as implementing the right EMR.
Here are a few suggestions for selecting an appropriate practice management system for your practice:
Analyze your practice’s revenue cycle. Employees involved in the revenue cycle, and those that will use or be directly affected by a practice management system should be involved in the assessment process. These staff members will be able to help you understand your current revenue cycle workflow, as well as how an automated system can help increase efficiencies and reduce administrative costs.
Identify features and functionalities. After analyzing your practice’s revenue cycle and the processes used by your employees to accomplish financial and administrative tasks, you will want to identify the features and functionalities that will benefit your practice most. Consider how your practice handles tasks such as patient scheduling and registration, billing and collections, and interoffice communication – and think about how a PM system could help perform those tasks in a more efficient way.
Make a list of other requirements for the vendor. Aside from system requirements, determine other areas of importance that you would like to discuss with the practice management vendor. This could include:
- Vendor references from other physicians
- Ability to interface with EMR software
- Hardware requirements
- HIPAA and ICD-10 compliance
- Maintenance and support from technicians with health IT certification
Having a checklist or a list of questions prepared to ask the vendor will ensure that you cover all your bases and that you have a clear understanding of each PM system before making the final purchasing decision.