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Telehealth Profitability Improvement
A recent survey taken by MDLinx asked providers about the effects of COVID-19 on patient volume. One question, in particular, is shocking. They asked, “Have you seen a drop-off inpatient office visits, and if yes, by how much?” 66% of providers who replied are experiencing a 25-100% patient visit drop with 14% not seeing patients at all. Unfortunately, this is a serious financial situation affecting the profitability of any medical practice. Consequently, because of the low patient visits, many providers to protect their practice are using telehealth.
Telehealth Is The Answer-Almost
With COVID-19 most physicians are moving toward telehealth visits as a matter of survival. Forced with seeing no patients or a few telehealth patients they choose telehealth. Unfortunately, those visits are only billing for the basic visit only. Additional coding is missed with every patient making the practice work harder for less.
ThoughtSwift and Telehealth Are A Beautiful Combination
In the age of telehealth, ThoughtSwift is essential. If you don’t have a telehealth provider, ThoughtSwift provides a HIPAA secure telehealth provider. Furthermore, ThoughtSwift’s telehealth provider connects with your EMR and makes every encounter one-touch-easy even for seniors.
Enhancing Profitability Of Your Telehealth Visit
If you have a telehealth provider, ThoughtSwift improves the quality of care for the patient encounter. Many providers feel limited Unable to physically see the patient physically as a result of telehealth. ThoughtSwift supports the provider with more information. Offering a color-coded EHA report, providers with ThoughtSwift have a 360-degree view of a patient’s needs. The added information supports providers with the medical necessity to feel confident about their treatment plans and thereby reducing the limitations of telehealth. ThoughtSwift’s reports bring the best in care quality to every telehealth visit.
Improve Provider Telehealth Profitability
Furthermore, ThoughtSwift ensures your patient encounter is more profitable. The battery of patient screening allows your practice to earn more during a telehealth visit. In addition to the office visit, depending on a patient’s needs, your practice can earn as much as the visit itself with the ThoughtSwift screening method. Earning more codes with every visit is good news for providers who see fewer patients per day, or are trying to recover from a loss of revenue as a result of the virus.
ThoughtSwift Payable By All Payers
Medicare, Commercial Insurance, and in some states Medicaid reimburses 100% with no Co-pay or deductible to the patient. Thoughtswift reports also contribute to MIPS scoring and other governmental required reporting. Also, If your practice sees Medicare patients view our Partner Program Information.
Let ThoughtSwift show your clinic how to navigate the COVID-19 challenges of your practice. Learn how to make this pandemic an opportunity for better patient care and improve provider profitability using telehealth.
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