While doctors love earning money, they hate keeping accounts ; and interactions with accountants are high on a doctor’s “hate to do” list. A doctor who owns his own clinic has the thankless job of having to maintain accounts. Most doctors have varied methods of maintaining financial records, but all of them get the jitters when it comes to filing their income tax returns. So much paper work and so much time wasted ! Isn’t there a simpler way of managing your accounts? Well technology and software run banks, so why not your clinic as well ?
This is a guest post from Aditya Patkar, Marketing Director of Plus91, as to how software can help doctors to manage their accounts more efficiently !
Plus91 has integrated its Practice Management EMR solution with a simple and effective accounts module which manages earnings, general payments, HR payments and referral payments . Here’s how Plus91’s billing module helps you keep your accounts.
My patients usually come in one after the other. It is difficult to keep track of how many came in and also their billing status. Making the receipts is a very cumbersome process for my secretary. What do I do?
The accounts module in our software packages is integrated with the visit management, and allows you to automatically create bills and receipts during the patient visit within seconds. It accepts inputs from the EMR and auto generates the bill with rates you have entered earlier, so that no time is wasted in billing. This means you no longer have to go through multiple screens just to prepare a bill for a patient. Plus91 allows you to generate the bill during the patient visit within seconds. You can also keep track of the bill amount and payment status in a single window , thus making life simpler for you and your secretary.
A lot of time my patients pay their bills piecemeal This means that their payments for earlier visits is often pending when they come for a followup visit. How can I collect the pending payments more efficiently ? It is irritating to go back to the old account books and make a list of payment pending entries. I need something which is more efficient !
Yes, making lists of pending payments can be quite cumbersome, which means a lot of time the patients default on their payments and you lose this income. Plus91 remembers which bills have been only part-paid. This means creating an unpaid bills report ( accounts receiveable) is just a simple click away. When the patient pays the remainder due, you just need to update his billing record, and his name is automatically cleared from the pending list !
My CA ( chartered accountant) insists he wants all income and expenditure neatly filed under various heads and given to him in an Excel sheet. It is tough enough to put everything down on paper – putting everything on Excel is twice the work ! Can software help me overcome this problem?
Many doctors cancel their appointments and stop seeing patients for 2-3 days every year when they are stuck at their CAs. The reason they waste so much time there is simply books are a disorganized mess of registers, papers and bills. Going electronic allows our intelligent software to do the work for you , so you can earn more money seeing more patients ! Once you start using Plus91, the amount of time you will save in interacting with your accountant will more than make up for the cost of the package in the first year itself ! Plus91’s accounts package allows you to create ledgers ; profit and loss statements; and allows you to export all this into formatted excel sheets, making your life much easier. Soon, you will be able to export this into Tally , making sure your CA votes you as being his favourite client !
How do I make sure my staff hands over my daily collections to me ? How can I monitor them more closely to make sure they aren’t siphoning off my heard earned money ?
Even though doctors are daily wage earners, they are surprisingly naive about handling money. A lot of their income is in cash; and because they are so busy, they often have to trust a clerk or secretary to collect their fees. This makes them easy targets for embezzlement; and the embezzling is usually done by their most trusted staff member ! What do you do if he “forgets” to enter a patient in your register ? Or if he fails to prepare a bill and pockets your money ? With Plus91, each patient you see is present in the system , so it is easy to keep track of how many you have seen. Since creating the bill in part of the clinic process flow , this allows you to track the status of each patient with respect to their payments !
I don’t want all my staff to know how much I earn ? If I keep all my financial transactions on Plus91, then every one will know what my income is !
Plus91 allows you to set passwords, so that privileges are set for each user. This ensures that your staff has access only to what information you want them to see. You can keep whichever part of the record you want confidential and do not need to share it with them if you do not want to .
Many of patients have health insurance and I need to get the TPAs to pay my bills. They want me to format my bill according to various heads – and these rules vary from TPA to TPA ! If I want prompt payment from the insurance company, I need to do this. Will Plus91 help me?
As health insurance takes center stage in India, TPAs are insisting that the bills you submit to them for reimbursement be created in a certain format. Because they control the flow of money, they can pretty much demand this, and doctors will have to comply. Plus91’s claims package has integrated these formats into its solution. By choosing the correct option, you just need to fill in the appropriate fields and you will be able to complete the formalities in a jiffy. What’s more the software allows you to re-format the bills as needed, allowing a lot of flexibility.
I need my inventory and other payments to be managed directly, without having to make entries twice. Having different programs to do this reduces my efficiency !
When you purchase medical equipment ( ranging from a chair to office stationary), you have to create a voucher for the same; make a debit entry in your ledger and also make an entry in your inventory register. That’s two steps too many for a simple purchase ! Plus91 allows you to do all this automatically by filling one quick form. Just add your voucher and let the software do the rest.
I have to track doctors who refer patients to me . I need to be on top of this so that I do not lose out on patients. Can you help me with this?
Referrals are an integral part of the Indian Healthcare system. There’s no need to waste time doing these calculations if you use Plus91 ! Plus91’s referral systems keeps tracks of all the patients referred to you by various doctors. You can generate month end reports in excel and send them to your referring doctors.
My billing needs to be very flexible, as I often have to give a discount to poor patients. How can you help me to manage this ?
Plus91’s billing module allows you to be very flexible . You can add a discount or a tax as needed; or charge different rates for each of the procedures you perform.
The only things most doctors hate more than keeping accounts is paying taxes. This will be the subject of the next post.