Digital Health Data and why it matters to your success
Why is data important for your medical practice?
The data your medical practice generates has immense potential. It’s valuable beyond measure. Digital health data allows you to initiate new growth opportunities, better understand of your patients and medical professionals, and make informed decisions in real-time.
RSM expert medical specialists teamed with Clinimetrix, a detailed medical intelligence platform, help manage practices more effectively by providing tailored solutions based on data extracted. This is used to manage risk, advise of ways to generate more income, increase efficiency, and reduce costs. In short, it’s a game-changer in medical business.
RSM x Clinimetrix: a game-changer in your success
While it is important to provide high quality health care, it is also critical to arm your business with the key financial and performance insights. Clinimetrix and RSM go deeper. RSM Australia and CMH Practice Management (developers of Clinimetrix) have partnered with the objective of providing healthcare businesses with the unique opportunity to stand out in a competitive environment by leveraging compelling data and effective business strategies. It’s data-driven medical accounting services and business advice.
This partnership seeks to place healthcare
innovation at the forefront to assist business
leaders like yourself in achieving their unique goals.
Your data is utilised by RSM’s expert medical specialists to develop strategy towards ongoing clinical growth and financial success.
You don’t need to walk alone in business
“Less than 42% of GPs were interested in starting up their own practice according to the RACGP research in 2019. For many, there’s not enough time or energy in the day to do what they’re good at, as well as leverage the business to success in a competitive space. There is evidence of this in the shift in practice size, the most prominent change is the decline in market share in the numbers of solo general practitioner clinics from 3% to 2%.” – The HotDoc Blog,2019. Conversely, existing large clinics are expanding.
Bigger clinics mean greater manpower capacity and the ability to accommodate more patients, with larger budgets for better facilities and increased marketing activities. These can be truly enticing for GPs who just want to consult and not have to worry about the sustainability of clinics. This, however, does not imply that the dream of owning a successful independent medical practice should be dismissed. It denotes that potential practice owners need to be equipped with the ability to effectively leverage big data to remain competitive in the market.
Established industry stalwarts and new entrants alike are beginning to tap onto data-driven strategies to innovate, compete, and capture value. For instance, in healthcare, data pioneers are deep diving into the actual health results of pharmaceuticals when they were extensively prescribed to discover the benefits and risks that are not apparent during clinical trials.
Similarly, medical practitioners looking to establish successful modern medical practices need to effectively leverage data to stand out in the competitive market. RSM x Clinimetrix can help.
How can modern healthcare businesses achieve sustainability in today’s digital era?
Managing all aspects of a medical practice while ensuring its sustainability and success can be stressful. The solutions provided by Clinimetrix and RSM offer practice owners and managers the agility to adapt their business in real-time to seasonal changes and patient attendance rates.
Clinimetrix enables practice owners to identify revenue improvement opportunities by analysing GP billing behaviour, revenue by MBS items with trending over time, patient demographics and year-on-year comparisons.
The expertise provided by RSM’s medical specialists coupled with the analysts and developers of Clinimetrix enable modern medical practices to use practice data to achieve greater accuracy and improved financial and clinical results within the healthcare sector.
In practise, Clinimetrix allows for the customisation of healthcare. It offers a clear way for medical practices to engage more deeply and effectively with the people they serve. The data provides healthcare professionals with key insights needed to better understand their patients and offer proactive care that is more personal, effective, and informative.
So why is data important for your medical practice? Success. You require the right tools and expertise to achieve your goals and overcome the challenges unique to our burgeoning industry.
Explore RSM and Clinimetrix in partnership, and how it can benefit your medical practice in the modern-day business world.
For more information about this partnership and services, click here.