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Are You Ready To Grow Your Private Practice?

After the recent global challenges, the private healthcare sector now has an opportunity to attract new patients and generate more income.

It’s no secret that the NHS is struggling with ever-growing waiting lists. Since the start of the pandemic, the number of people waiting for NHS treatment in England has grown by a fifth, with 5.3 million people waiting for treatment in May 2021, up from 4.4 million in February 2020.

If patients are faced with a longer wait for planned treatment, it’s likely that more will choose to self-fund their treatment or obtain private medical cover for themselves and their families in case of future health emergencies. Also, the exchange rate of the pound against other leading currencies has fallen significantly since the UK voted to leave the EU in 2016 which makes private treatment an affordable option for overseas patients.

But these developments only represent an opening for private practices if they have the systems and resources to support growth. And this is where Healthcode’s online technology can provide a platform for success. Here are just a few examples:

  1. Maximise revenue: our Clearing Service is the most efficient and cost-effective way to submit validated invoices to Private Medical Insurers (PMIs) which are then ready to be processed and settled quickly. You can also use the service to generate invoices for self-paying patients that meet industry standards. These can be sent electronically via patientzone, an online payments and collection company, allowing your patients to easily and securely pay invoices online.
  2. Maintain healthy cash flow position: the payment tracking feature within ePractice Lite and Pro enables you to quickly allocate payments and monitor unpaid invoices and shortfalls so you can reduce the chances of a damaging bad debt. When you log onto the system, a snapshot graph on the home screen shows the current status of outstanding invoices.
  3. Register new patients efficiently: Healthcode’s membership enquiry facility means you can check the details of insured patients against an insurer’s membership database and populate your patient list with the correct information. Once a patient is on the system, it’s easy to set up appointments, generate letters and create invoices.
  4. Organise your diary: ePractice Lite and Pro allow you to easily see your daily schedule, book appointments and set up recurring clinic sessions across one or more locations, ensuring your time is effectively managed.
  5. Plan ahead: ePractice gives you the tools to create reports which present up-to-date information such as outstanding debts and chargeable activity. It’s only possible to make smart investment decisions if you have an accurate picture of your practice finances

Want to know more?

To find out how our technology can help your private practice maximise your revenue and grow, contact our Business Development team.

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