An increasingly large number of medical practices are looking to replace or update the software that manages their practices. They grapple with soaring costs of medical practices and declining patient visits. Besides this, there are requirements of improved documentation and healthcare and these are adding secretaries, nurses, non-medical administrative staff to the practice.
With rapidly rising costs of running a medical practice, physicians have to make sure that the practice is run as efficiently as possible if it is to remain a viable proposition. Besides issues of running the practice efficiently, hospitals and practitioners have to grapple with large ‘account receivables’ (A/R). Almost all medical practices, large or small have a significant amount of their revenues caught up in bad debt. In fact, one expert has estimated the total bad debt that hospitals have to write off is as high as $120 billion annually.