Financial Benefits of Automating Point-of-care Testing
All of the operational and functional benefits of Relaymed yield a tangible value proposition, that is derived from various sources.
For how to quantify the financial benefits for your physician office laboratory, read our ebook “How to quantify the financial benefits of automating point-of-care testing.”Get the ebook
Here’s a quick overview:
MACRA and MIPS are in place to ensure that the population has access to the best possible healthcare. The quality of healthcare that your practice provides will now directly impact the level of payments that you receive. By using Relaymed, your practice will be able to offer patients POCT without any of the complications or inefficiencies posed by the task. This increases quality, therefore protecting your revenues.
Audits can be costly, not only in terms of staff effort, but also as a result of lessened or denied insurance payments. Your practice could even be made to repay on past appointments as a result of an audit. Relaymed enables your practice to offer POCT that is 100% accurate and secure, meaning there will be no revenue loss due to inaccurate record keeping. As results are instantly accessible from our cloud, there will be no wasted labor costs either.
The streamlined workflow efficiency that Relaymed offers leads to an immediate ROI in staff productivity. As there is no requirement for practice staff to spend unwanted hours manually inputting result data, they can be assigned to different, value adding tasks. This also means that care providers will have less costly time spent waiting on test results, allowing them to room more patients and conduct more effective appointments. The old process is a tedious, error-ridden use of labor that is inefficient, unreliable and unacceptable in the digital age.
Automation makes things faster. This allows your practice to adhere to appointment times and therefore room more patients. By doing so, you unlock revenues that were previously missing. More time = more patients.
Relaymed includes data analysis capabilities, that gives you insight into reagent waste. This feature allows you to manage and cut down on waste more effectively.
By choosing Relaymed, you will leave no revenues unrealized from the tests you conduct. As 100% of test results will be saved to the EHR, there will be no missing data when it comes to billing.
As Relaymed leads to better patient experience, you will be collecting higher satisfaction scores. These will lead to more patients choosing your practice, which will in turn increase revenues. This is vital in a competitive marketplace.
Now find out how you can take advantage of these benefits.
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