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Why Effective Practice Management Is Essential for Holistic Practices

Holistic Billing knows your holistic practice provides essential services for your clients and the community you serve. From acupuncture to massage therapy, one essential component of your work is to manage your holistic practice efficiently to best serve your clients. But, how can you successfully manage and run your practice?

With the proper practice management practices, your holistic business can grow and provide the utmost care to your patients. Keep reading for more information and tips on how to streamline your practice management!

What is Practice Management?

Practice management involves the responsibilities of overseeing the revenue cycle, compliance regulations, human resources, health information, and general business processes. This comprehensive work is usually performed by an individual or shared by a team, and ensures all areas of your organization are running smoothly.

It’s not an easy job to run a busy and successful holistic care practice; while it takes plenty of planning and determination, it also includes furthering a relationship between your clients and your practice. The well-being of your patients depends on how a practice keeps all moving parts humming along and functioning smoothly.

Why Do Holistic Practices Need Effective Practice Management?

Naturally, you want your holistic practice to be as effective and efficient as possible! To be operating at your best means your clients will receive the best care and attention. Your holistic practice should function in a smooth, yet professional manner so that patient-provider objectives can be achieved. 

Practice Management Tips

Effective practice management can make this happen and involves not only the practitioners and specialists across every discipline in your organization, but also the staff members and supporting team players. A cohesive business approach where everyone is on the same page translates beautifully into a fantastic client experience.

Improve Practice Processes

Increasing the efficiency of your practice’s workflows and processes results in automating tasks that usually burden your staff. By alleviating your team’s recurring workload, they can better serve your patients and turn their attention to other areas of the practice that need further help or development. 

Verify Insurance 

Making patient insurance verification an easier and more efficient process will enable you to see more patients. Your holistic practice will reap the benefits of automating such tedious and convoluted processes as insurance verification with the use of a Practice Management Software, which this article discusses further down. Automating this process would allow staff to estimate payments and collect them at the point of care.

Measure Efforts

Streamlined practice management allows for analytics to be tracked to see what is working and which metrics of your holistic practice need to be improved. This is instrumental in understanding where your practice is at in terms of numbers. Tracking these metrics will let you plan for the future, too - once you start meeting your objectives comfortably every week, you can start thinking about pushing yourself and your objectives higher, or focus on making your practice more sustainable.

Best Practices for Managing a Holistic Practice

Follow these best practices for successfully managing your holistic practice. 

Consider Using a Practice Management Software

Designing and implementing a suitable practice management software system - and training your team members - can help achieve your holistic objectives. As your practice grows in size, and as the volume of patient flow increases, you need to add more staff and specialists so that you can treat different types of patients, necessitating increased practice efficiency. This future growth can be supplemented by innovative practice management software.

HIPAAUtilize Technological Resources to Your Advantage

Skillfully using modern health information technologies, such as electronic medical records (EMRs) and the integration of mobile technologies, enables holistic practices to achieve more collaborative and methodical treatment options. Putting these resources to work for your organization means you’ll have a better overview of patient plans and future interactions.

Maintain HIPAA Confidentiality

This one is inherent for anyone working in the holistic medicine field. Your practice must conform to the vital health regulations and changed laws, such as HIPAA, and changed payment reimbursement models. Keeping up to date with these legalities and patient protections demonstrates your dedication to safeguarding personal information.

How Holistic Billing can Elevate Your Practice Management

Established in 1999, Holistic Billing Services is an integrative health services firm focused on streamlining your documentation, billing, and coding process to enhance your revenue cycle management. Our secure online portal provides acupuncture practices, massage therapy practices, and chiropractic practices an easier way to manage their health insurance billing so they can focus on delivering quality patient care and growing their practices. 

As the nation’s largest billing provider for holistic healthcare, we service over 1,200 practices across the country. Thanks to our knowledge of insurance reimbursement and healthcare auditing risks, holistic practitioners average over $185 per hour of treatment with our billing and coding services. Contact us today and see what we can do for your practice management!

May 5, 2021
 - by Antonio Arias, MBA, CHBME
Practice Management
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