No other technology has the power to impact a healthcare practice’s financial health like its practice management system (PMS). The PMS is the epicenter of all activities related to revenue generation and cost containment, and it will be the key to a successful transition to ICD-10. But historically, there have been few ways for practices to thoroughly assess these systems to ensure that they have the capacity to not only handle the job at hand, but also produce compliance with the myriad rules and regulations governing the practice’s activities.
The industry’s long-standing push for a PMS accreditation process that will help make these assurances possible has finally come to fruition. And being as providers currently face mounting pressure to increase quality while maximizing cash flow and reducing costs (in addition to preparing for the conversion to ICD-10), it couldn’t have come at a more crucial time.