Software Advice BuyerView: Medical Practice Management. Insight into today s software buyer

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Brandon Henry
8 years ago
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1 Software Advice BuyerView: Medical Practice Management Insight into today s software buyer

2 Abstract Software Advice talks regularly with medical offices looking for the right practice management (PM) software for their practices. We analyzed a random selection of 385 of these interactions from 2014 to uncover physicians most common pain points and their reasons for purchasing new software. Most practice management software buyers are replacing existing medical software. Regulatory changes, such as the switch to ICD-10, are primarily driving software replacements. Practice management software buyers prefer Web-based solutions over onpremise systems.

purchasing new software. Most practice management software buyers are replacing existing medical software.

3 Most Buyers Are Replacing Existing Medical Software 8% 1% 15% 21% 55% Commercial medical software Paper/manual methods Billing service Manual methods & software Proprietary system Most of the buyers we spoke to 55 percent were already using a commercial practice management software product in their practice.

methods & software Proprietary system Most of the buyers we spoke to 55

4 ICD-10 and Regulatory Compliance Drive Replacements Regulatory compliance (e.g., ICD-10) Current is outdated/unsupported Current is too cumbersome Integrate EHR/PM Improve organization/efficiency Current lacks features/functionality Current is glitchy Current is too expensive Want better mobile/remote support Want a specialty-specific solution 0% 5% 10% 15% 20% 25% Percent of sample The most common reason buyers cited for wanting to replace an existing practice management system was their current solution not being ICD-10-ready.

5 First-Time Buyers Want Organization and Efficiency Improve organization/efficiency Regulatory compliance (e.g., ICD-10) Want single solution for EHR & PM Current methods are outdated Need additional features/functions 0% 15% 30% 45% 60% 75% Percent of sample The majority of first-time buyers (70 percent) cited a single, common desire: to improve organization and efficiency.

, ICD-10) Want single solution for EHR & PM Current methods are outdated Need additional

6 Buyers Prefer Web-Based Solutions to On-Premise 12% Web-based On-premise 88% Among buyers who expressed a preference for a certain type of deployment, the vast majority (88 percent) were interested in Web-based systems.

preference for a certain type of deployment, the vast

7 Majority of Buyers Want Integrated Billing and Scheduling 11% 21% Scheduling and billing Scheduling only Billing only 69% Most of the buyers we spoke with were looking for integrated billing and scheduling solutions, rather than one or the other on a standalone basis.

the buyers we spoke with were looking for integrated billing and

8 EHR Integration and Mobile Support Are Key EHR integration Mobile support Coding assistance/claim scrubbing Eligibility inquiry Robust reporting Appointment reminders Claim submission/tracking Ability to customize Patient portal Strong client service Payment posting/reporting ICD-10 support 0% 10% 20% 30% 40% Percent of sample When asked what features or functionality they needed, close to 40 percent of buyers said they wanted the PM system to be integrated with an EHR.

portal Strong client service Payment posting/reporting ICD-10 support 0% 10% 20% 30% 40% Percent of sample When asked

9 Demographics: Prospective Buyers by Job Title 13% 6% 5% 4% 33% Practitioner (physician) Administrator/office manager Owner/president/director Practitioner (non-physician) Consultant Other Billing 17% 22% Nearly half of the buyers we spoke with were practitioners physicians (33 percent) and other non-physician practitioners (13 percent).

(non-physician) Consultant Other Billing 17% 22% Nearly half of the buyers we spoke

10 Demographics: Prospective Buyers by Size of Practice 1% 4% 2% 6% 3% 6% 7% 16% 54% Solo practice 2 doctors 3 doctors 4 doctors 5 doctors 6 to 10 doctors 11 to 25 doctors 26 to 50 doctors 50+ doctors The buyers in our sample came primarily from small practices: 54 percent from solo practices and 32 percent from practices with between two and five doctors.

50 doctors 50+ doctors The buyers in our sample came primarily from small practices: 54

11 Demographics: Prospective Buyers by Practice Type 25% 3% 3% 3% 3% 4% 9% 9% 25% 16% Mental/behavioral health Chiropractic Physical therapy/rehab Primary care Multi-specialty Billing services Pediatrics Optometry Urgent care Other Mental health and chiropractic practices comprised a notably large share of the sample (25 percent and 16 percent, respectively).

Billing services Pediatrics Optometry Urgent care Other Mental health and chiropractic

12 Learn More About Medical Practice Management Software Read Report Read the full report Get Free Quotes Get free price quotes on top PM software Get Free Demos Get unbiased reviews & free demos on top PM software

Quotes Get free price quotes on top PM software Get

13 @SoftwareAdvice /company/software-advice Software Advice is a trusted resource for software buyers. The company's website, provides detailed reviews, comparisons and research to help organizations choose the right software. Meanwhile, the company s team of software analysts provide free telephone consultations to help each software buyer identify systems that best fit their needs. In the process, Software Advice connects software buyers and sellers, generating high-quality opportunities for software vendors.

com, provides detailed reviews, comparisons and research to help organizations choose the right software.

Electronic Health Records (EHR) BuyerView Report 2014. Insight into today s software buyer

Electronic Health Records (EHR) BuyerView Report 2014 Insight into today s software buyer Abstract Software Advice regularly speaks on the phone with medical practices seeking new EHR software. We randomly