Managing taxes can be a complex and time-consuming process, especially if you have multiple locations or operate in different cities or states. Your EHR should be able to configure tax rates for different geographic areas and automatically capture taxable totals to simplify your tax reporting.
Each of the six segments discussed in this blog post plays a critical role in providing specific reporting that is necessary to run a successful business, regardless of whether it is a medical practice or not. The setup of these segments is paramount and should be approached with care.
For new practices, it is essential to choose an implementation team that can provide a strong standard to build upon. For existing practices, it is important to be open to best practices and configure the specifics based on your own experience and needs.
By properly configuring and tracking data in these six categories, an EHR/PM can produce valuable insights into your practice, allowing you to make informed decisions that can optimize your operations, improve your patient experience, and increase your revenue.