Physical Therapy Billing Software: A Guide
A disorganized system for billing leads to delayed or possibly lost revenues from paid accounts. This is because of ignorance concerning billing and coding rules and regulations. Be sure to evaluate your billing procedures periodically and ask yourself important questions about outsourced billing, such as if it’s worth the cost of having another company handle your claims, or what the on-boarding process entails. Unfortunately, many practices find themselves struggling to successfully strike that perfect balance between business execution and patient treatment.
Your first question when deciding on outsourcing physical therapy billing services is most likely how much it will cost. Each company is different regarding pricing, and it’s necessary to evaluate all of your options before making a decision. This takes the hassle and headache off of your shoulders and allows you to focus more on treatments. Are the monthly fees worth it for your company?
A second option can be hiring a billings company to do your billings for you. Look for a company who has been around and has good moral integrity. No longer will staff members have to spin their wheels chasing down details. It will all be right there at their fingertips.
Your third option is to train a staff member to solely take care of billings in your clinic. It’s the attention to detail that should be on your radar. This professional grade software can mean the difference between your making a profit or you have to close down your practice. Be sure you choose a partner who is completely transparent about how they’re handling your claims and ask whether or not they’re touching your revenue.
Treatment plans and patient-specific data are handled on one system while business-related details are managed separately. This directly translates into employees wasting valuable time with dual entry rather than focusing on patient needs and requirements. Using a comprehensive computer solution means only mastering one process for the ultimate in user convenience and ease. Keep track of any denials or unpaid bills.
A new option has become available for those interested in outsourcing billing. Integrated billing service solutions offer full-service billing at 6.5% of total claims collections. Never again will your staff have to race around collecting data to show compliance. So stay on top of your billings and you will ensure the success of your clinic.