Essential PMS Features for Multi-Specialty Groups – tab32

Essential PMS Features for Multi-Specialty Groups

Operations executives and owners of large group practices already contend with a challenging role, but for those working within the multi-specialty market, business is even more complex. From low treatment acceptance rates to complex billing processes, operations leaders struggle to streamline workflows, enhance patient experience, and boost revenue.

While expanding into orthodontics is an exciting way to improve the patient experience and increase production, many practices discover that their practice management software (PMS) isn’t designed to support multi-specialty. As a result, the competitive edge of in-house orthodontia can become a roadblock, stymying efficiency and increasing the risk of abandoned treatment plans and lost revenue.

To understand practice management software’s role in multi-practice, it’s important to first understand the challenges this business model presents.

Understanding the Challenges of the Multi-Specialty Model

Many multi-specialty leaders struggle to address missed revenue opportunities, particularly in practices with low treatment acceptance rates. Executives often pump cash into marketing investments to increase revenue, only to find that some offices still struggle to meet production targets. Inadequate patient education, inefficient internal referral systems, and a lack of standardized treatment planning all perpetuate the problem.

Orthodontic Treatment Plans Span Longer Time Frames

Orthodontic treatments in particular present distinct challenges compared to general dentistry. These treatment plans, typically spanning 2-3 years versus the dental office’s point-in-time treatment model, impact payment processing, charting workflows, and A/R management.

Payment Processing Takes Longer

The payment process for orthodontics is complex, with multiple payment options available from upfront cash payments to monthly payments via CareCredit, or internal plans with recurring credit card charges. This variability can tie up accounts receivable and complicate cash flow management. Practices often wind up carrying open accounts receivable across the course of a patient’s treatment, resulting in inflated A/R figures. This makes revenue recognition a challenge, affecting reporting and future planning.

Charting is More Intricate

Charting requires systems that can track progress and adjust treatment plans over extended periods.

Streamlining Operations with Integrated Software

To address these challenges, DSOs can leverage advanced practice management software tailored for multi-specialty environments. Multi-speciality PMS solutions should offer unified patient profiles, standardized treatment and payment plans, robust financial management tools, enhanced claims processing, and an improved patient experience.

5 Key Features to Look For When Selecting a PMS

Unified patient profiles are crucial. They provide a centralized patient history across all specialties and locations, enabling seamless internal referrals and simplifying pre-treatment verification. For instance, many patients must complete a dental cleaning before beginning their orthodontic treatment plan. With a centralized patient history, confirming that this initial step has been taken is much easier.

Standardized treatment and payment plans are another key feature to look for. These allow for group-wide exam templates that guide practitioners through the patient journey and creation of treatment contracts.

Financial management features should include automatic production and A/R updates based on treatment stage, first-in/first-out invoicing to reduce abandoned treatment plans, and consolidated A/R management by patient, including payment plans.

Enhanced claims processing is also vital for improving cash flow. Look for solutions, like tab32, that offer a centralized ledger showing outstanding insurance claims across all practices, and features that reduce manual labor in resubmitting rejected claims.

Finally, an improved patient experience is crucial for increasing treatment acceptance and retention rates. This can be achieved through bespoke treatment and payment planning, visual aids to enhance patient education, and automated tracking and follow-ups.

The Benefits of tab32’s Integrated Approach

By implementing tab32’s comprehensive PMS for multi-specialty groups, operations leaders can expect significant benefits:

• Increased cash flow, with improvements in case acceptance rates by up to 30%

• Enhanced patient experience due to automated tracking and follow-ups and improved patient education

• Streamlined workflows through unified treatment planning across locations

• Accurate commission payments that are in line with treatment plans

• Seamless multi-specialty integration, facilitating secure internal referrals and ensuring revenue stays within your organization

While managing orthodontic practices alongside general dentistry is complex, the right PMS can transform these hurdles into opportunities for growth. By embracing a cloud-based, multi-speciality solution like tab32, you can position your organization at the forefront of the evolving dental landscape.