Survey from Updox shows providers rank running a profitable practice as a top priority second year running

Press releases may be edited for formatting or style | February 08, 2022 Business Affairs
Dublin, Ohio – February 8, 2022 – Updox, an EverHealth brand and complete healthcare communication solution for in-person and virtual care, today released results of a recently released survey designed to determine healthcare practice priorities in 2022 and how paperless and virtual care solutions have impacted practices amidst the COVID-19 pandemic. The results include data from more than 900 healthcare providers across a variety of specialty practices and highlights the evolving needs of providers, the role that healthcare technology has played over the last year, and providers' plans for leveraging various health IT solutions moving forward.

Healthcare practices continue to feel pressure from the ongoing pandemic. Independent physicians lost up to $158 billion from 2020 to 2021 and 7 out of 10 healthcare workers say they feel burnt out. At the same time, patients expect an increasingly convenient, consumer-like experience from their providers. Healthcare practices are thus more focused than ever on enhancing the patient experience while also reducing costs and potential burnout.

Heading into 2021, profitability was the primary goal for healthcare practices. With over 39% of providers ranking this as their top priority, it is clear that increasing profitability remains a key focus. When asked about their priorities for 2022, over a quarter (25.7%) of healthcare practices ranked running a profitable practice as their number one priority. Additional practice priorities included improving patient satisfaction (32%), improving patient outcomes (21%), spending less time doing paperwork (12.34%), and improving staff satisfaction (5.65%).

"Just as patient expectations have evolved throughout the pandemic, so have practice priorities. While we saw a slight shift in where practices are focused, it is no surprise that running a profitable practice remains a top goal," said Zach Zettler, president of Updox. "When it comes to improving a practice's bottom line while meeting goals for patient and staff satisfaction, data shows that utilizing Updox solutions like eForms, eFax and more can have a major impact. At large, running a paperless practice can reduce costs, allow providers to gain more hours in the day, and channel saved resources toward more value-driven initiatives, such as spending more time with patients."

Additional survey findings include:

When it comes to billing and cash flow, optimizing / maximizing practice revenue is the most important practice in 2022 (34.80%)

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