Facts about Profitable Optometry Practice

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Facts about Profitable Optometry Practice
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• The best way to augment output and revenue in any
  healthcare profession is to handle billing and
  coding proficiently. This holds true with
  Optometry Revenue Cycle Management (RCM) as well.
  
• Increasing revenues in optometry implies complete
  and thorough knowledge of billing and coding
  structures like modifiers, codes, principles,
  guidelines, and optometric terminologies.
• The demand for optometry services is increasing
  by the day with locations in more than 6500
  communities in the US. Due to this geographical
  spread, there are more optometrists than other
  eye care professionals and people wearing lenses
  or requiring eye care almost takes up half the
  population of US.

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Optometry Billing- Optometry billing is diverse
and deals with intricacies. It requires billing
professionals as Medicare has separate guidelines
which they should be aware of. For appropriate
Optometry billing, a number of questions are
taken into account such as services provided and
the amount collected per year, number of
providers and insurances, fee structure to be
followed, and codes used (local or standard CPT).
It also ascertains the medical necessity of the
service provided to the patient which should be
in line with the medical issue stated by the
patient, along with conducting tests after the
complete diagnosis and not just on the basis of
symptoms.
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Importance of EHR EMR- A great way of
optimizing optometry RCM is to embrace EHR and
EMR systems as part of the optometry practice.
Specially designed Electronic Health Records
(EHR) systems simplify workflow by means of
lesser paper work, enhance patient flows with
higher concentration on their care and
improvement, and encourage a healthy expansion in
the practice. These EHR systems include
ePrescribing, scheduling, optical point of sale
and billing. EHR should also include PQRS codes
and make an addition to each visit automatically.
PQRS codes are the finest ways to report all
documented measures.
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Increasing Demand of Eye wear- Eye care and eye
wear demand shall continue to grow in the future
and are the most essential drivers of optometry
practice. Increase in efficient services will
enhance patient satisfaction, accurately capture
the increase in rate of product sales and augment
monetary returns. This plays a role in the RCM of
the optometry practice.
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