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5 Things Which Should Top Your Medical Practice's to-do List

  • Highlights

  • Adopt EHR solution

  • Go digital via apps

  • Implement cyber security measures

  • Boost social media presence

The penetration of technology has changed the dynamics of healthcare. Today, you can't only rely on running your medical practice on a single appointment and waiting room process. Here are 5 things that should top your medical practice's to-do list.

Implement Electronic Health Record (EHR)

According to a report by Grand View Research Inc., the global EHR market is expected to reach USD 33.41 billion by 2025. EHR not only enables you access the entire medical records of your patients but also boosts the competence of your practice by:
- Improving patient care and safety
- Enhancing patient experience
- Cutting down operational cost
- Bolstering productivity and efficiency

Costing around Rs.10-45 lakh, depending on whether you choose on-site or web-based deployment, you can obtain the required funds for an EHR solution through a doctor loan.

Go Digital Through Mobile Apps

The estimated global mobile health market by 2020 is pegged to be USD 60 billion. Users downloaded 3.7 billion mHealth apps in 2017. With a growing number of people using mHealth apps to connect with doctors, it’s imperative for you to leverage the platform to reach out to your patients, offering them remote consultation.

Depending on the app platform and size, the cost of development for such an app can go as high as Rs.20 lakh. A doctor loan gives you instant liquidity to outsource development of such an application.

Adopt Cyber Security Measures

According to a Vectra Networks Study, the healthcare industry suffers the most cyber-attacks, thanks to the expanding footprint of IoT devices. The global ransomware attack crippled the services of the NHS of England with operations and appointments cancelled. Such an attack could cost lives of your patients.

Hence, it's essential for you to adopt and implement robust cybersecurity measures for your practice to protect patients' life and personal data. Such a solution could cost anything between Rs.4-5 lakh.

How doctors can take their practice to the next level

How to apply for a Business Loan for Doctors

With an easy 4-step online application process, availing a Business Loan for Doctors has never been simpler.

You simply need to fill in some basic details on the form, post which our representative gives you a call to confirm your offer and schedule a document pickup. Next, he arrives right to your doorstep at the scheduled time and collects the needed documents like your KYC documents and medical degree certificate. After the verification process is complete, the loan is disbursed to your account within 24 hours.

What makes a Business Loan for Doctors score over a regular business loan for your practice is that these take into consideration your medical degree and professional qualifications while processing the loan and hence offer you loans with minimal documentation and loan disbursal within 24 hours.

The money in bank in 24 hours feature thus, helps in taking care of any immediate practice need.

Enhance Presence on Social Media

According to a study conducted by Pew Research Centre, out of 74% of Internet users on social media, 80% look for health information with nearly half search for info about a medical professional. With the number of social media users expected to reach 2.9 billion by 2020, it's essential for you to consolidate your presence on social media to reach out to new patients. Ensure presence on the major platforms to widen your reach.

Use Practice Management Software

The global medical practice management software (MPMS) market is expected to grow at a CAGR of more than 8% from 2017-21 reaching around USD 3,154 million by 2021. Through this software, you can:

- Increase efficiency of your practice
- Boost productivity
- Get easy access to records
- Simplify the billing procedure

The price of this software can range from Rs.40,000 to 38 lakh, which can be funded through innovative financing options like business loan for doctors, loan against property for doctors, etc.

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Why should you choose a Bajaj Finserv Business Loan for Doctors