Are You Generating Value to Your Bottom Line?
Calculating your ROI begins by pinpointing the goals of your practice. With the help of Clearwave’s ROI calculator, you can visualize what your bottom line looks like and any bottlenecks that may be standing in your way. You’ll also be able to efficiently work out any revenue your practice is currently losing that you can avoid.
For instance, one central pain point in many practices is operational inefficiencies in the delivery of care. There are many consequences of error-prone and labor-intensive processes. These include an increase in denied claims and more no-shows, and canceled appointments.
It can also result in poor clinical outcomes and patient dissatisfaction. Being known as a practice with these problems can cost you thousands of dollars in lost revenue every year. Adopting the right healthcare technologies can help solve this problem.
Choosing Clearwave for essential tasks like scheduling, verifying insurance eligibility, and staying in touch with your patients can help you recover a significant amount of losses, mainly due to no-shows or eligibility issues. You can do all this and help improve your bottom line at the same time.
Generate Value to Your Bottom Line and Save Money
As a practice owner, you can leverage Clearwave to increase your revenue in different ways, including:
Clearwave’s Eligibility-as-a-Service engine does away with the manual task of verifying patient insurance eligibility. The tool presents accurate co-pays at patient check-in, enabling your practice to decrease claim denials and instantly verify primary, secondary, and tertiary insurance benefits at an average of 7 times per patient engagement.
The eligibility engine also improves collection rates by 65 percent. Eligibility-as-a-Service presents the right co-pay to every patient, every time, leading to a reduction in human errors along the way.
Clearwave can even alert your front office desk when a patient isn’t eligible, allowing your team to change and update wrong information quickly.
Clearwave’s Two-Texting enables your practice to communicate with patients efficiently in the most preferred communication method. Texts have an open rate of up to 98 percent, with emails coming in a close second at 20 percent. By sending appointment reminders by text message, your patients will be more likely to read your message and keep their appointments, reducing no-shows.
Because two-way texting isn’t one-sided, patients can conveniently communicate with your practice. Clearwave’s Two-Way Texting feature enhances patient engagement, which in turn improves patient experience and retention, making sure you maintain a healthy revenue cycle.
Clearwave Scheduling is streamlines your intake process and ensures compliance. It gives your patients the ability to schedule their preferred appointment times at any time, no matter where they are. What’s more, it reduces the workload and burden of your staff and allows them to focus on other tasks besides answering the phone and scheduling patients.
Although you may always have appointments that cancel, Clearwave Scheduling automatically updates any empty slots online in real-time. Updating this information in real-time helps make appointments available to patients looking for a last-minute appointment or on a waiting list.
Leverage Clearwave Technologies to Increase Your Revenue
How profitable your practice is will be based on your ability to increase revenue while lowering costs. The best way to do that is by leveraging Clearwave. With Clearwave, you can boost patient engagement, inspiring patients to keep coming back to your practice.
Our experience-oriented technologies can cater to the rising demands of patients for tech-enabled healthcare in addition to delivering bottom-line benefits. Want to learn more about how Clearwave can ensure the long-term success of your practice? Click here to read and download 5 Tips for Reducing Costs and Maximizing Reimbursements!
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