Setting up and managing a medical practice can be both an exciting and overwhelming experience for physicians. Fortunately, there are now medical practice management services that can get your practice started on a solid foundation. 

But what is medical practice management? Medical practice management services refer to a set of solutions that assist in managing a medical practice efficiently. It involves automating administrative and clinical tasks to streamline workflows and reduce human errors. There are several benefits, including increased productivity, reduced costs, improved patient care, and compliance with regulatory requirements.

One of the main components of medical billing and practice management services is an electronic health record (EHR) system. Additionally, solutions may also include other valuable features, such as medical billing and coding, patient engagement platforms, and analytics tools for tracking practice performance.

What is the purpose of practice management?

The primary purpose of practice management is to optimize the operations of a medical practice. By automating administrative and clinical tasks, medical professionals can focus on providing quality care to their patients. Practice management software simplifies day-to-day operations, allowing your practice to operate leanly, and avoid unnecessary manual errors. 

Furthermore, medical practice management software provides a comprehensive view of practice performance in one place, enabling medical professionals to track financial performance, patient satisfaction, and clinical outcomes. This data can be used to identify areas that need improvement and optimize practice operations as you continue to grow your business. 

What are the basic types of medical practice management systems?

There are several types of medical practice management systems available on the market. Here, we will compare Healthie, Kareo, DrChrono, and Practice Fusion.

Healthie 

An all-in-one practice management solution designed for smaller practices. It includes an EHR system, medical billing and coding services, patient engagement platform, analytics tools, and is highly customizable. 

Healthie is suitable for practices that require comprehensive practice management software at an affordable price point. Healthie's EHR system is highly customizable, allowing medical professionals to tailor workflows to their practice's specific needs. Its patient engagement platform allows practices to communicate with patients through video conferencing, messaging, and telehealth services. Healthie makes managing a medical practice simpler than ever.

Healthie also supports a series of integrations that allows for practices to customize their workflows accordingly, including E-Prescribing, E-Labs, E-Fax, and more (see all integration options). 

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Kareo

A cloud-based solution designed for larger practices, Kareo includes an EHR system and patient engagement platform. Kareo boosts a user-friendly interface as well as telehealth tools for patient communication. The customization is limited, therefore this solution is best suited to physicians without complex needs. 

‍DrChrono 

An EHR system with practice management capabilities. DrChrono offers comprehensive medical billing and coding services, built-in analytics and reporting tools, and can be tailored to meet specific practice needs. While a popular solution, it is noted that there is a steep learning curve and higher pricing compared to competitors. 

‍Practice Fusion

Another EHR system with practice management capabilities, Practice Fusion provides a customizable EHR system, medical billing & coding services, and a patient engagement platform. Although the platform is limited in its telehealth services and patient engagement, Practice Fusion offers a 14-day trial and transparent pricing which are advantageous to small practices.  

Choosing the right solution for your practice

With many medical practice management services  available on the market, it is most important to consider what features are critical to the successful running of your practice both now, and in the future. Considering aspects such as a solution’s third-party integrations (for E-Labs, E-Rx, educational content, etc.), commitment to innovate, and levels of customer support might be deciding factors for your business.