Unlock the financial benefits of automating point-of-care testing
Relaymed brings a suite of benefits to primary care practices by automating point-of-care testing (POCT) workflows. At the heart of…
Relaymed brings a suite of benefits to primary care practices by automating point-of-care testing (POCT) workflows. At the heart of these benefits is a guaranteed return on investment (ROI) that aggregates the various facets of our offering.
This ROI is composed of two categories: hard ROI and soft ROI. A hard ROI refers to the financial benefits that are straightforward to quantify by introducing POC automation. For instance, it is easy to understand the staff cost that goes into running POCT and, therefore, the money involved with avoiding these costs. However, the soft component of the ROI refers to the intangible sources of revenue that automation brings. These are more difficult to grasp.
That’s why we wrote the book, How to quantify the financial benefits of automating POCT – to help you do just that. By reading, you can gain insight on the various ways in which practices can instantly benefit financially from subscribing to Relaymed.
You can download the ebook here, but first:
- Are members of staff utilized efficiently?
- Could providers experience fewer delays?
- Could more patients be seen each day?
- Are patients having an optimum healthcare experience?
- Are your records accurate and complete?
- Do you bill for 100% of lab tests?
If the answer to any or all of these questions is ‘yes’, then your practice can realize a positive ROI by implementing Relaymed.
And Here’s Why
Staff and Providers are able to use their time on productive, value adding tasks. Considering the number of tests that are processed each day, the time that is lost by relying on the inefficient method of manual data entry quickly adds up. You can achieve a point-of-care workflow that is far more streamlined. Also, by making appointments more efficient, with fewer delays, your practice could feasibly room more patients per day.
Furthermore, by improving practice efficiency, patient care improves simultaneously. This will yield higher patient satisfaction scores that will aid the acquisition of new patients and the retention of existing patients. Providing a higher quality of healthcare will also improve incentives, which has marked financial implications.
These benefits improve efficiency in the short run, but also further down the line. Automation guarantees complete and accurate records, which allow for trouble free audits. Therefore, practices can avoid reproval from insurance providers and regulators (such as CLIA) as no test data are documented incorrectly, or not documented at all.
This has a further effect on billing procedures too. As test results are automatically stored in the EHR, with 100% accuracy and certainty, no procedure will be left unbilled as a result of being left undocumented. These benefits all protect revenue and reputation.
Do these sound like benefits worth exploring? Well, now you can find out exactly how they work in relation to your own practice.
Download the Ebook
Once these various efficiency gains and administrative improvements are unlocked by Relaymed, your practice will immediately benefit financially.
Download our ebook How to quantify the financial benefits of automating POCT, to find out more about the value that automating your point-of-care workflow can bring to your practice.Download Ebook