Physical Therapy Billing Software: A Guide
How your company handles your physical therapy billing services is important to the efficiency and functionality of your PT clinic. 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. Let’s review a few considerations for outsourced billing.
This results in a further waste of your time and resources sending appeals and filling out more reports for reimbursement. Each company is different regarding pricing, and it’s necessary to evaluate all of your options before making a decision. Typically, however, the cost can range anywhere from 6-12% of your monthly claims collections. Are the monthly fees worth it for your company?
A second option can be hiring a billings company to do your billings for you. Users simply need to log in to the system to access patient information. 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. This means that even your accounts receivable and payable will be automatically managed for you and your employees and can produce the quickest reimbursement time possible. The fact is, this is YOUR money – the service is just handling it. Good software should feature meticulous documentation procedures, data entry, progress notes, and an electronic billing system.
Other important questions to ask would be about the companies’ actual location. It is important that you are personally handling and informed about all aspects of your practice’s billing. Always make sure that you know the status of all your billing. Don’t pay for hours of inefficient data entry – look up options that can integrate documentation and billing service.
It also ensures a fit specifically personalized for your organization. If you don’t keep track of it, nobody else will. And – web based PT management software works seamlessly with billing services, meaning there is never a need for any double entry. So stay on top of your billings and you will ensure the success of your clinic.