Is your relationship with billing complicated at best? I get it. Figuring out how to bill insurance companies for private practice physical therapy can seem daunting, especially in light of ever-changing regulations.
From vibrating posture sensors, gait-correcting insoles, and pressure-sensing socks to popular movement tracking devices like Fitbit, video game systems designed to make therapy more fun, and helmet sensors that alert athletes and medical professionals of potential concussion-causing hits, there have been a number of exciting advancements and trends in PT technology. These innovations offer new opportunities for improved diagnosis, treatment, and patient engagement.
Ah, billing: Can’t stand it, can’t practice without it. Most providers have a complicated relationship with billing—and that’s understandable. There’s a lot to manage, even if you have a team of billers handling the day-to-day tasks. And if you’re in charge of that, too, you may be feeling overwhelmed. So, is it time to outsource your billing process to a third-party vendor?
Billing your patients and payers is the only way you make money as a provider, but billing also comes at a cost—and some clinics using an RCM service pay a higher price than others. I’m not just talking about blatantly high rates. While rates as high as 12-15% should make you run for the hills, low rates of merely 3-4% are also cause for concern. As noted in this Pulse article, low rates often indicate incomplete RCM services.
Country music stars took over Nashville last week for the CMT Music Awards, but the only celebrities I was looking out for were at the Gaylord Opryland Resort. From Ben Fung and Sharon Dunn to John Childs and Fred Gilbert, the PT industry’s biggest stars gathered in Music City for APTA NEXT, a four-day conference focused on physical therapy education and innovation. If you didn’t have the chance to attend, here’s a look at what’s in store for the PT profession:
When I go clothes shopping, I usually head straight to the clearance rack (I love a good bargain), but—as my husband loves to remind me—there’s a solid reason some of those items didn’t sell for full-price. Sure, sometimes the manufacturer made too many—or a particular style didn’t sell as well as planned.
As a private practice clinic owner, you’re probably familiar with the cold sweat-inducing struggle to keep a steady cash flow. Claims management muck-ups, inefficient processes, staff issues, and lack of insight into your clinic’s financial health can leave you feeling like you’re riding a revenue rollercoaster.
Learn four ways you can help yourself—and your patients—as you work toward point-of-care documentation domination.
In the past, clinicians have been either relationship-driven or data-driven, but now, they’re expected to do it all: document quickly and completely while simultaneously developing and maintaining great relationships with their patients. To make that balancing act even more difficult, documentation has become an ever-more arduous and lengthy process over time.
Dr. Stanley Paris and his companions cycled through Phoenix on a sunny, seasonably warm day. Tan and only a bit tired, the riders were already on day five of their 30-day, 3,000-mile journey from San Diego, California, to St. Augustine, Florida. Why take on such a grueling challenge?