How to Get a Positive ROI from Your Optometry Software

Changing software or transitioning off paper is a big step and there’s so much to consider. How do you know if it's the right decision? Will the investment pay off? What difference will new technology actually make?

One way to get started is by forecasting your return on investment (ROI). ROI is used to measure the financial benefits your practice will see as a result of buying new technology, and it’s pretty simple to calculate.

To make it even easier, we’ve done the math for you. Just add your practice stats into our ROI calculator and see how you can maximize profitability with Eyefinity. Get started!

Cost concerns are why many practices stay with their current solution (even if it is no longer working for them). However, with 70.5% of employees surveyed by ZenBusiness saying the software they use at work is outdated, we say it’s time to take action.

The good news: 97% of medical practices confirmed that implementing an all-in-one EHR/practice management solution resulted in more revenue. While metrics like this can be easily measured and directly impact your business, other benefits may not be so identifiable. Below are additional ways your practice can maximize ROI with a cloud-based optometry software like Eyefinity Encompass^TM.

Eliminate Inefficiency

Studies show that inefficient processes can cost companies between 20% - 30% in revenue every year. With our exclusive VSP Integration, you can get ahead of appointments by verifying VSP insurance with Bulk Eligibilities and Authorizations as early as one week in advance—talk about efficiency! This is just one example of how Eyefinity’s cloud-based software can help you combat inefficiency.

Save Time with Automation

Some common ways to automate your workflow include offering online scheduling, sending automated appointment reminders/confirmations, leveraging electronic remittance advice, and utilizing exam templates for faster documentation.

Boost Patient Satisfaction

These days, patients are looking for personalization. CVS Healthcare Insights reports that 85% of patients said personalized care is important. For eye care professionals (ECPs) this could translate to the ability to capture health history prior to the appointment with online forms so you can provide tailored recommendations from the start.

Achieve a New Level of Accuracy

Claim denials represent 90% of missed revenue opportunities with some of the most common reasons being coding errors, incomplete information, and lack of prior authorization. With Eyefinity Encompass, you can automate coding, and reduce duplicate data entry—eliminating errors and saving you time (and money)!

Make Data-driven Business Decisions

With 24/7 access to your data and an analytics dashboard, our cloud-based solutions allow you to quickly identify patient trends, areas for improvement, and new opportunities for your practice. Eyefinity Encompass captures clinical, operational, and specialty-specific data in easy to understand, interactive reports so you have the data you need to make informed business decisions that increase profitability.

Software is always an investment, but it can also lead to new revenue opportunities, time savings, and increased efficiencies for your practice. It can be hard to determine what optometry software is right for you, but understanding your potential ROI is a step in the right direction. That way you can evaluate how changing technology will affect your future and the financial growth of your practice.