MedEsthetics magazines offers business education and in-depth coverage of the latest noninvasive cosmetic procedures for physicians and practice managers working in the medical aesthetics industry.
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PAY POINTS 42 MARCH 2016 | Med Esthetics Dr. Dayan agrees with the need to minimize discounting. "We do our best not to use discounts as a way to attract patients. Occasionally we may use discount programs as part of an overall program that reinforces our brand," he says. N o. 6: Do work with one or more patient fi nancing companies. "We recommend working with a patient fi nancing com- pany like CareCredit for a number of reasons," says Zupko. "Financing allows patients to spread out payments and more easily afford what they really want. For example, a patient who comes in for a breast augmentation may have saved enough for the implant procedure but be unable to cover the breast lift she also needs. Patient fi nancing will allow her to have both procedures without waiting. CareCredit is endorsed by the American Society of Plastic Surgeons (ASPS) and has been for more than 10 years. There is no application fee for patients and procedure fees for practices are reasonable." Dr. Dayan uses both CareCredit and Alphaeon Credit. For a list of patient fi nancing companies, see list at left. N o. 7: Do select an EMR system that enhances your workfl ow. "An integrated EMR makes keeping track of money easier and it helps with patient communication," says Majeed. "The physician or his assistant uses an iPad application to enter a picture of the patient, click on Botox, enter how much is injected and where, and the information is immediately available at the front desk. There's no need for the person at the checkout desk to ask, 'What did you have done?' This gives aesthetic practices an edge because patients view the use of the latest technology as a sign that the practice is keeping up with the times and makes them more confi dent in your practice as a whole." "Integrated systems with PayJunction prevent errors and fraud. Patient signature capture saves time and avoids the need for re-entering data. All of this is important for the fi nancial health of your practice," adds Dr. Rosenthal. "EMA also allows online payments, something that can be very important when you charge for consultations. The patient can set up the appointment and pay online prior to the consultation, which is safer than taking information on the phone." The EMR system that is best for a practice depends on many factors, including size, practice goals, existing systems and, of course, how much the practice can afford. For a list of EMR systems especially targeting specialty practices, see list at left. Linda W. Lewis is the contributing editor of MedEsthetics. Your electronic recordkeeping system should be able to work seamlessly with your payment policies and your preferred offi ce workfl ow. Here are a few companies offering EHR systems designed with aesthetic specialties in mind. Advanced Data Systems EHR Software for Derma- tology, adsc.com/dermatology CosmetiSuite Practice Management and EHR soft- ware for aesthetic practices, cosmetisuite.com CureMD Dermatology EHR, curemd.com Doc2MD EMR, doc2md.com eDerm System EHR, edermsystems.com EZDERM, ezderm.com Modernizing Medicine Electronic Medical Assistant (EMA Plastic Surgery and EMA Cosmetic), modmed.com Nextech specialty-specifi c healthcare technology, nextech.com PracticeStudio Dermatology EHR System, practicestudio.net Precision Practice Management, precisionpractice.com RevenueXL Dermatology, revenuexl.com Electronic Recordkeeping Systems Patient Financing Options The explosion of patient fi nance companies has left many practice owners scratching their heads about which to choose—listed below are some that specifi cally serve aesthetic practices. In addition to asking about enroll- ment charges, ask how long the company has been offering patient fi nancing, what kinds of programs they offer your patients (loan limits and interest rates vary wildly), and how you can assess their patient approval ratings. The ease and speed of the patient approval process and the speed with which the practice is paid are also important considerations. Alphaeon Credit, alphaeon.com CareCredit, carecredit.com CarePayment, carepayment.com Enhance Patient Financing, enhancepatientfi nance.com MyMedicalLoan, mymedicalloan.com Prosper Healthcare Lending, prosperhealthcare.com SimpleSelect Patient Finance, simplepatientfi nance.com