Medforce Blog

The Unbelievable Waste of Searching For Lost Paperwork

June 20, 2017

Category: General

One of the biggest impediments to peak efficiency for healthcare organizations is ineffective document management -- and the stats back it up.

The cost of managing lost paperwork and files is intangible but very real. Each employee spends about 1.5 hours a week looking for misplaced files in the office and on the computer. Multiply that one employee’s time across your entire workforce for a full year, and try not to do a double take at the wasted hours.

Over time, about 20 percent of an organization’s information is misfiled. Some are eventually found, but some are lost forever. That inefficiency is costing you time, money, and loss of corporate knowledge.

It’s time to take your document management seriously. Rein in your problem. Think about all the costs associated with managing your data in a paper or electronic format, and think of all the ways in which you use your company asset data on a daily basis.

Many organizations feel the pain of paper management, but healthcare organizations in particular have some unique pain points, such as regulatory paperwork and frequent audits.

Think for a minute about how stressful and frustrating it is for your employees to prepare your ACA and other reports. Is it time for a change?

We all know audits are unavoidable in this industry—they just come with the territory. Think back to what it was like preparing for your last audit. Was it smooth, or were you scrambling at the last minute to pull together all of the requested information?

Consider risk reporting as well. This is a rapid response reporting necessity. How fast can you pull information together, and how streamlined is your process?

The ability to bill the right code for the right reimbursement is crucial for any healthcare organization. Lost files mean lost codes, lost billing information, lost reimbursements, and lost cash flow.

Finally, we can’t emphasize data security enough. Lost files can greatly compromise your ability and obligation to keep your patients’ medical information secure. You don’t want to get a reputation of not being able to protect privacy and sensitive data.

A Better Way to Manage Documents

By using a centralized document management system, you can drastically reduce days and days of your reporting and audit prep time.

Look for productivity-enhancing software and services containing some of the crucial, underrated features that help healthcare organizations adapt quickly and seamlessly to embrace more efficient electronic document management.

Save time, save money, and utilize technology that equips your employees to do more. Contact us today to see how we can help.




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