Achieving Revenue & Efficiency Goals
It can sometimes be daunting to know how to tackle a new goal – like creating a paperless practice. But with many independent practices feeling the burden of losing up to $158 billion in revenue between 2020 and 2021, providers are making it their goal to recover. In 2022 practices have prioritized running a profitable practice as a top priority. They put staff satisfaction a close second. What if you could do both – be more profitable AND increase staff satisfaction. Updox can help realize your goals.
If improving profitability and staff satisfaction are among your practice’s goals this year, it’s important to create a sustainable strategy for meeting them. Cutting back on costly and inefficient paper processes can help you do just that.
Creating a paperless practice in 2022 can help you save money.
It takes nearly 18 minutes for a staff member to sift through paper documents to find necessary information.
Paperwork has the potential to cost practices billions in earnings – buying paper, toner, equipment maintenance, and more.
Many practices have benefited from going paperless – with 30% in our recent survey noting cost-savings between $500 to $2,500 a month after leveraging paperless technology solutions like eForms.
Going paperless can also help save time while improving staff satisfaction.
You must also consider what it takes to pay staff for the time spent on managing manual paper processes and the potential of lost or missed patient records.
When staff are not spending time on paperwork, they can focus on what matters most: caring for patients. In fact, nearly 41% of providers said they saved 5-15 hours a week in 2021 by leveraging digital technology. And when used even more effectively, like having multiple time-saving solutions seamlessly integrated into workflows, 11% saved an additional 10 hours a week.
Updox is here to help you become more profitable
If achieving an increase in profitability, improving staff satisfaction, and reducing paperwork are goals for your practice, paperless processes can help you achieve these goals sooner than you think. If you’re unsure of where to start, let us help.
Check out our Paperless Practice Planner to start tracking where you are spending time and money on paper-driven processes so you can identify areas to save and start driving more ROI for your practice in 2022.