Tag: Pharmacies

E-health is increasingly attracting the investor community

The economic meltdown caused by the COVID-19 pandemic has forced many startups to shut businesses and lay off people left, right and centre. But in a seemingly different universe, health tech start-ups are witnessing an upswing in business transactions. DocsApp is one such company. It has attained an average of 60 per cent increase in online consultations across various departments and is expecting higher returns in the coming days. In May, the company raised a series B funding of $9.5 million (Rs 72.5 cr) from Bessemer Venture Partners India, Fusian Capital, Rebright Partners and Milliways Fund LLC, and recently had a merger with MediBuddy. Moreover, during COVID-19, DocsApp has partnered with PhonePe, Shemaroo Entertainment, Lokal Hypermarket, Seniority and many others to provide a free consultation. Satish Kannan, Co-Founder and CEO, MediBuddy DocsApp seems greatly encouraged by his company’s progress.

How has your business faring during these COVID times?

Although there were supply chain issues initially with regards to the delivery of medicine and in terms of collection of lab test samples, etc., we have always maintained a strong vendor connection to help deal with such challenging times.

We have seen an increase in people opting for online doctor consultations, with an average of 60 per cent increase in consultations across various departments. At this point, MediBuddy DocsApp caters to the healthcare needs of three crore Indians, attending to the needs of over 25,000 Indians daily across the length and breadth of the country.

How have you kept your employee motivated in these times? Any workforce crunching done so far?

Considering the current situation, where everyone, from CEOs to managers are working from home, our team members have adapted themselves to these challenging times really well. Pets and kids walking by and waving at the camera help us in embracing our human side in these desperate times, coupled with an obsession to help more and more individuals with online consultations, medicine delivery and lab tests that are critical; especially now more than ever.

You seem to have had a number of collaborations in the recent past, how will these strategic partnerships boost your business, especially in this economic downtime?

MediBuddy DocsApp’s vision is to provide high-quality healthcare to all. In the fight against this pandemic, it is extremely important to be able to connect with medical experts and get credible information. At MediBuddy DocsApp, we are focusing our efforts on raising awareness and ensuring the availability of trusted medical advice to help control the spread of the disease and panic.

We have also extended our medical assistance to MyGate, CRED, Zee Digital, PhonePe, Shemaroo Entertainment, Lokal, Seniority etc., and will be working with more partners to reach out to communities, increase awareness and provide only doctor consultation support to their customers.

Moving forward, in times to come, what are the changes that DocsApp will incorporate for better customer services and business viability?

At MediBuddy DocsApp, we worry about customers, their experience and needs. We will continue to focus on the customer. With a customer-first attitude, we will improve our range and quality of service to ensure a great experience for the user.

With a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies covering over 95 per cent of all pin codes, MediBuddy DocsApp will continue to focus on enabling healthcare services like online specialist doctor consultations, lab tests, preventive health checks, delivery of medicines, etc. to customers across India. Our focus is to provide best-in-class, end to-end-services in digital healthcare.

How will you strategically utilise the funds you have recently raised?

We will utilise the funding in further strengthening our doctor base, patient reach and develop our product to move a step closer to its mission of providing high-quality healthcare to billions.

Do you personally feel, this could be a good time to invest in healthcare? What would be the investment scenario in the coming future?

Yes, with tailwinds supporting the industry and e-health becoming the new normal, there is a lot of interest in the investor community. However, at the end of the day, business, health and growth of right metrics will only help onboard investors.

For now, we are well capitalised, our plan is to make it grow and ensure access to high-quality healthcare to all.

What are the new business opportunities that you think can bring a complete transformation to  the healthcare sector here on?

People always resist change. COVID has been a tailwind situation. Like demonetisation was to digital payments, COVID is making an adaption of online health exponentially faster. More people will be open to talking to a doctor online. Entry to healthcare for an individual will start with teleconsultation and then move to physical consultation, labs and others, as required.

How will the coming times encourage or discourage the start-up community within healthcare?

Times are changing rapidly, and we should change accordingly. Start-ups who adapt to it and take decisions/actions faster will grow faster and survive.

sourcelink:https://www.expresshealthcare.in/interviews/e-health-is-increasingly-attracting-the-investor-community/422013/

Benefits of Mobile Access to Medical Practice Management Software

Use of mobile devices and mobile apps has been growing at an exponential rate in almost any industry. Healthcare professionals and their assistants are also making extensive use of the mobile version of health information technologies for getting quick access to information and providing the most optimal care to patients. Practice management software, in its mobile version, allows hospitals and providers to engage with patients and provide service instantly from anywhere.

Benefits of mobile access to medical practice management software

Cloud Technology and Mobile Access Empower providers

With no special equipment or tool being required, mobile access to the efficient practice management software ensures that medical practitioners are in a position to use their mobile devices such as Smartphones and Tablets to enjoy the freedom of operating from anywhere.

With provision for authorized users to log in securely from any web-enabled device, physicians and specialists are now able to practically take their practice anywhere they are.

Practice Management on the Go

Managing the logistics of medical practice while on the move with just a glance has been facilitated, thanks to the powerful combination of the practice management system and mobile devices. Tasks related to medical billing and accounting were once traditionally managed using paper or on the computer. They have now been rendered possible to be handled even when medical professionals are away from their workplaces.

Accessing patient information, scheduling, and billing, in addition to accounts maintenance and payment collection, are now possible while providers are on the move.

Exclusive Advantages of Mobile Access to Practice Management Software

Wherever they go, providers are able to stay connected to their practices, when using mobile access to their practice management systems. Documentation is prompt and fast, transforming patient experience and improving clarity. Practice communication can be considerably increased and doctors can keep up with their scheduled appointments without any issues.

The following are a few of the exclusive benefits of having mobile access to the practice management software:

  • Improved automation
  • Increased efficiency and productivity
  • Saving in time and efforts
  • Streamlined processes and workflows
  • Practice gets more organized
  • Increased focus on patient health management
  • Patient satisfaction is increased
  • Point of care information is available at anytime
  • Internal communication is enhanced

Improving the vital factors involved in any medical practice such as administration, medical records management, communications, and information collection and access, mobile-enabled, cloud-based 75Helath practice management software allows providers to spend more time on patient care while increasing patients’ safety.

E-Prescribing Software Functionality And Its Performance In The Clinical Care

Electronic prescribing (e-prescribing) is an interactive data transaction enabled by modern health information technologies. It allows the prescribers to access patient data and get a complete profile of their medications. Software inputs in the system enable providers to check administrative limits, clinical edits, and formulary status.

E-Prescribing Software Functionality And Its Performance In The Clinical Care

Key Features and Functionality in the E-Prescribing System

When designed in tune with the unique Medical practice needs, e-prescribing software can bring down the time required for the prescription process. The cloud-based medication management tool helps doctors to order refills or adjust dosages effortlessly.

In order to achieve all expected capabilities, the e-prescribing software must have certain essential functionalities, a few of which have been discussed below:

1) Automated alerts for adverse drug interaction or events: This is one of the key features that help providers to improve their prescription process while increasing patient safety. Documenting all relevant accounts of medications taken by the patients, and how a new drug would interact, e-prescribing system dramatically helps to avoid unwanted consequences related to medications. Alerts are available for contraindications, duplicate therapy notification, and dosing information.

2) Electronic prior approval process: The process of prior authorization is time-consuming yet essential in the health care setting. By automating the process, e-prescribing ensures better productivity. Patient details and prescription information are sent to the concerned insurance provider automatically.

3) Formulary check: Cost of medication is one of the significant contributing factors that lead patients to forgo pharmaceutical treatments. Prescribers are equipped with a drug formulary, the list containing prescription drugs that will offer the greatest value. This enables them to pick the most affordable options among them so that patients find it easy to manage their finances related to medications.

4) Patient education: An exclusive functionality that aims at providing education to patients about the medications they are prescribed and their potential side effects is available in the modern e-prescribing software. On-demand education materials and instructions prove very useful to patients.

5) Decision support function: Instrumental in enhancing the care quality, medication decision support system offers evidence-based information. This helps prescribers to have insights about the effectiveness of drug therapy. This feature helps in bringing down the number of prescription errors immensely.

75Health has come up with the efficient cloud-based e-prescribing software that is equipped with all the essential functionalities and features. Easy to implement and manage, this system meets all necessary compliance needs and is considered to be among the top-rated e-prescribing systems in the contemporary medical industry.

Medical Billing Software – A Necessity for Medical Practitioners and Billing Services

The modern medical billing software is rich with features such as financial reporting software and scheduling. It facilitates easy management of medical practices and helps to optimize practice revenue.

Medical Billing Software - A Necessity for Medical Practitioners and Billing Services

Why is Medical Billing Software Considered Crucial in the Present Health Care Setting?

Medical billing systems prove to be one of the effective ways to achieve and sustain profits in the modern health care industry. The medical billing software streamlines the financial activities involved in medical practices. The key benefits of adopting this software are improved revenue cycle management, reduced errors, improved efficiency across the practice, and enhanced reimbursement.

Medical billing software helps practices to prevent errors and increases patient experience. It provides a streamlined interface for efficiently managing the practice expenses. When integrated with the electronic health record system, this system further simplifies the billing and invoice tracking processes.

The Various Benefits of Medical Billing Software

Medical billing system helps health care providers to manage practice collections, generate financial reports tailored to their specific requirements, and efficiently schedule patient appointments. The system automates procedures such as coding claims, submitting claims for payment, and tracking them through the revenue cycle.

Data is Managed Securely

Cloud-based medical billing software eliminates the possibility of losing data. With information being securely encrypted across several layers, and with multiple backups, there’s little or no chance of losing crucial data due to fire or such other disasters.

Process Automation

Automatic payment reminders can be set that remind about past due bills. Insurance verification can be performed before a patient arrives, and claims can be electronically submitted. Claims can be self-validated, so it is possible to ensure that codes have been entered accurately. These ensure that the possibility of claim rejection is greatly reduced.

Key Benefits of the Medical Billing Software

  • Claim scrubbing functionality helps improve the rate of first-pass acceptance by thoroughly inspecting claims and making the edits before submitting to the payers.
  • When medical billing systems are integrated with EHRs, the potential of errors and rework is greatly reduced. Moreover, a unified view of the patient is possible with fewer clicks.
  • Billers can submit clams to hundreds of payers through a single, effective interface – facilitating faster reimbursements.
  • Medical billing services are enabled to understand and manage billing operations at all levels.

The innovative 75Health medical billing software is cloud-based and is rich with features that help medical practices and medical billing service providers to automate the various billing-related processes. It ensures reduced errors and improved collection.

What are the Key Functions of Practice Management Software?

Most of the health care organizations and providers are moving to the digital environment these days. The innovative medical practice management software restructures the routine administrative processes in medical facilities. While this latest technology is likely to take the least of the medical professionals’ time, it is going to have a significant impact on the way they work.

Key Functions Of Practice Management Software
The salient features of the medical practice management software

1. Validation of diagnosis procedures

Generally, insurance companies pay only for a set of procedures when the patient has a particular diagnosis. One of the functions of the medical practice management software is to verify and let the providers know whether the patient’s insurance plan covers a procedure before ordering it.

2. Patient insurance eligibility verification

Insurance policies, with various interpretations, and by covering specific conditions and ailments, are getting more complicated. Healthcare providers must know whether they are covered for the services they provide. The practice management system enables them to understand this beforehand.

3. Monitoring compliance needs and updates

The automated monitoring feature in the medical practice management software helps reduce audit risks and improve coding and billing accuracy. The potential of personal health information breach is limited too. Modification and review of standards by the regulatory authority is almost continuous. The practice management system helps regular update of these changes and ensures that medical facilities are meeting compliance needs.

4. Billing and payment collection process support

Medical practice management software facilitates automated claim submission, customized reporting, and efficient revenue cycle management. Claims re-submission and denial management solutions, if needed, are also provided.

5. Inventory tracking and control

Bar-code scanning equipment facilitates tracking pharmaceutical samples and supplies, thus improving workflow pattern. Resource requirements are reduced while predictive budgeting and forecasting can be improved.

6. Efficient communication

Effective communication among the various stakeholders is crucial for achieving quality care delivery in any medical practice. Practice management solutions help to connect the medical professionals with insurance providers, external vendors, imaging and radiology professionals, and patients.

Other functions in the practice management system
  • Restricted access to data and system functions
  • Notifications for providers and their support staff
  • Integrated workflow management
  • Automated charge entries
  • Compliance to HL7 and HIPAA standards, and ICD codes

The modern health information tool of 75Health medical practice management software facilitates streamlined Medical billing and accounting processes. It gives managers more control over administrative workflow patterns while improving the financial stability of practices.