How To Grow a Chiropractic Business in a Recession
- To grow a chiropractic business, you can protect against economic downturns by using an efficient EHR system to reduce costs and increase profitability.
- By implementing cloud-based EHR software you can access integrated SOAP note features and automated billing for better patient care.
- Streamlined insurance processing and location-wide syncing improve compliance and allow your practice to scale in any economy.
To recession-proof your growing chiropractic practice, you must adopt strategies that enhance efficiency and scalability. With cloud-based chiropractic practice management software to integrate SOAP note documentation, connect multiple practice locations, and streamline your billing and insurance processes, you will run an efficient and profitable business and provide top-level patient care.
By implementing an integrated software solution to enhance your operations and improve the patient experience, you can position your chiropractic practice to weather economic downturns and continue to grow.
How to Grow a Chiropractic Business in a Tough Economy
According to a 2020 study, physicians spend about 44.9% of their time on EHR administrative tasks, such as documenting patient encounters, entering CPT codes, and inputting patient information. An outdated EHR system can cost your practice time and money in lost revenue, claims errors, and billing inefficiencies.
Using cloud-based, integrated chiropractic EHR software to grow a chiropractic business can simplify administrative duties that hinder patient care and raise operating costs, ensuring streamlined operations that sustain growth and profitability in the long run.
Integrate SOAP Note Documentation
You can safeguard your growing chiropractic practice with integrated SOAP note documentation. Integrated SOAP notes offer several benefits for your daily operations, including cost savings, better security and compliance, and increased time for face-to-face patient care.
ChiroTouch allows you to complete integrated SOAP notes using macros, powerful shortcuts linked to a single button. This tool helps to standardize record-keeping, ensuring accurate and compliant notation. ChiroTouch’s EasyTouch macros let you take comprehensive and compliant notes in less than 15 seconds.
The ChiroTouch platform also ensures Medicare-compliant SOAP notes you can take on any device, such as an iPad or laptop, while still in the exam room with a patient. This streamlines the flow of patient information from sign-in to exam, providing a more seamless experience for staff and patients.
Switch to a Digital Intake Process
Switching to a digital intake process using ChiroTouch’s CT InForms can help recession-proof your practice by improving efficiency, reducing the administrative burden, and enhancing patient satisfaction.
With a digital intake process, you can offer patients the convenience of self check-in, reducing paperwork for staff and improving patient flow. With CTInforms, patients can access and complete customizable templates for patient forms, questionnaires, safety protocols, and consent forms, saving time and minimizing errors in patient data.
You can also gain automated feedback on patient visits to help improve patient outcomes and satisfaction, while a seamless, paperless office visit can enhance the patient experience. The increased efficiency of the entire practice can lead to better productivity and improved security for patient information, ensuring compliance with HIPAA regulatory standards.
Linking Multiple Locations
Chiropractors with multiple locations can benefit from using ChiroTouch to link all their practice locations.
With an integrated EHR system, patient data can be seamlessly shared across multiple locations, ensuring continuity of care and reducing the risk of errors in data entry. This can lead to improved patient outcomes and satisfaction, which is crucial for maintaining a successful practice, especially during economic downturns.
ChiroTouch can also help chiropractors centralize their administrative tasks, making it easier to manage multiple locations from the all-in-one provider dashboard. This can reduce the need for additional staff, save time and money, and improve overall efficiency.
ChiroTouch can provide chiropractors with valuable insights into their practice performance. They can track key performance indicators such as patient volume, revenue, and patient satisfaction across multiple locations so they can make data-driven decisions to optimize their practice.
Streamline Chiropractic Billing and Payments
For chiropractors operating a growing practice, using ChiroTouch to streamline billing and payments can be a smart move to improve cash flow during a recession. Integrated billing provides a central platform for managing and processing chiropractic billing, reducing errors and delays, and ensuring timely payments to increase revenue and improve your practice’s financial stability.
Cloud-based ChiroTouch offers simplified billing features for growing practices, including invoices, receipts, and ledgers. Payment processing tools like CT Payments save time on billing tasks, allowing chiropractors to focus on providing quality care to their patients. This tool also offers multiple payment options such as online, phone, swipe, chip, Google Pay, and Apple Pay®, making it convenient for patients to pay for their services.
You can set up recurring payments to automatically bill and charge patients after treatment. Saving cards on file eliminates the need for patients to bring them to their sessions.
Improve Insurance Acceptance Rates
It costs an average of $25 per claim to rework and resubmit after a denial. During an economic downturn, your growing chiropractic practice can protect its revenue stream by reducing claims denials and automated insurance processing.
With ChiroTouch, you can experience streamlined claims management. CT Verify ensures that patients have proper coverage. The tool also identifies the correct chiropractic billing and CPT codes for submissions, reducing the likelihood of denials due to coding errors.
CT MaxClear, ChiroTouch’s integrated claims processing system, ensures efficient claims processing, giving your practice an acceptance rate of up to 98.06%. By syncing CTP charge codes directly from providers’ SOAP note macros, ChiroTouch automates chiropractic billing, saving time and reducing errors.
Additionally, ongoing webinars featuring industry experts in chiropractic coding keep providers updated on ever-changing regulations. By reducing claim denials and streamlining billing processes, your practice can weather economic downturns and provide quality patient care.
Sync Records into One Platform
When patients switch chiropractic clinics, uploading their medical history documents can be challenging with an inefficient EHR. ChiroTouch offers a solution by seamlessly integrating old charts and files into its EMR software.
ChiroTouch’s automatic syncing capabilities ensure that patient information is always accurate and up to date. You and your staff can access patient files from anywhere in the system, allowing seamless communication and collaboration.
This instant file access saves time and improves patient care by guaranteeing all providers at your growing practice have access to the same information. Whether you need to update a patient’s treatment plan or review their billing information, ChiroTouch makes it easy to get it done, quickly and efficiently.
Recession-Proof Your Growing Chiropractic Practice With ChiroTouch
Switching to an updated, cloud-based chiropractic EHR system is essential for growing practices to thrive during a recession. Using a completely integrated chiropractic practice management software, you can implement the best strategies for profitability and patient experiences to safeguard against an economic downturn.
Schedule a demo with a ChiroTouch Specialist today to learn why you can count on ChiroTouch to streamline your practice and help you grow in any economy.