• Legal Compliance: One More Reason to Collect Patient Deductibles and Copays Image

    articleJul 24, 2017 | 6 min. read

    Legal Compliance: One More Reason to Collect Patient Deductibles and Copays

    Collecting coinsurance, copays, and deductibles upfront is an important piece of the effort to accurately value the services we provide. And yet, we still hear about practices that routinely waive their patients’ deductibles and copays. Today, I’ll discuss another reason not to routinely waive deductibles and copays. In the past, I’ve written about collecting deductibles and copays when a patient presents with a federally funded insurance like Medicare . In cases involving the Department of Justice, the …

  • Physical Therapy Billing for Beginners, Part 1 Image

    articleJul 16, 2017 | 5 min. read

    Physical Therapy Billing for Beginners, Part 1

    Of course, you got into physical therapy to help people—not to rake in the dough. But in order to do the former well, you’ve also got to know how to make a profit—and that requires billing for your services. If you’re new to physical therapy, you might be feeling a little overwhelmed by the prospect, so here are a few things to remember about billing for physical therapy services—the basics, if you will. (Keep in mind that …

  • How to Bill for PT Assistants Providing Physical Therapy Services Image

    articleJul 12, 2017 | 5 min. read

    How to Bill for PT Assistants Providing Physical Therapy Services

    This post comes from PT Compliance Group compliance officer Tom Ambury, PT, and WebPT President Heidi Jannenga, PT, DPT, ATC/L. We get a lot of questions when it comes to billing for private practice PT services. One of the most common has to do with billing for licensed PTAs—especially when Medicare and state practice acts have different requirements when it comes to supervision . Our advice? Adhere to the most stringent requirement, which usually comes from Medicare. …

  • The Dos and Don’ts of Working With Insurance Companies Image

    articleJul 7, 2017 | 6 min. read

    The Dos and Don’ts of Working With Insurance Companies

    In 2016, Forbes reported that doctors spend more than 66% of their time on paperwork. And a good deal of that paper-pushing is insurance-related. There’s no denying that working with insurance companies is a challenging—yet required—part of running a rehab therapy clinic. One of the biggest hurdles in this professional relationship is negotiating contracts. Most medical professionals have at least heard a story of a nightmare negotiation that led to nothing but frustration. Ultimately, insurance companies usually …

  • How to Stay in Business in this Uncertain Healthcare Environment Image

    articleJun 29, 2017 | 17 min. read

    How to Stay in Business in this Uncertain Healthcare Environment

    Health care as we know it is changing. But that’s nothing new, right? Health care has been in a state of flux for a while now—what with ever-changing payer regulations and the steady push toward more patient-centric, value-based collaborative care. And while putting patients first is surely good for everyone, increasing regulations—and decreasing reimbursements—can make it challenging for providers to keep up, let alone keep the lights on. That’s why we’ve spent much of this quarter discussing …

  • Beyond FFS: Why a Risk-Based Payment Model Could be Your Best Bargaining Chip Image

    articleJun 23, 2017 | 8 min. read

    Beyond FFS: Why a Risk-Based Payment Model Could be Your Best Bargaining Chip

    If you’ve ever negotiated a payer contract , you probably focused on convincing that insurer to simply bump up your rates. However, with healthcare reform moving full steam ahead, this might not be the best—or most lucrative—approach. Rather, therapy practices may want to put risk-based proposals on the table (i.e., those that allow for larger or smaller payments based on outcomes). After all, value-based payment models will soon be the new norm, and it could pay—literally—to be …

  • Verification Vexation: What to Do When You Can't Get a Hold of a Payer Image

    articleJun 16, 2017 | 5 min. read

    Verification Vexation: What to Do When You Can't Get a Hold of a Payer

    Unless you’re a character in a teen movie from the ’90s , you probably don’t love hanging out on the phone all day. But even the average teenager would undoubtedly agree there’s a better way to spend your time than sitting on the phone with an insurance payer. I know—getting in touch with insurance payers can be a huge pain. Between scheduling, data entry, and collecting patient forms and payments, there’s not a whole lot of time …

  • 8 Reasons You Should Attend Ascend 2017 Image

    articleJun 15, 2017 | 5 min. read

    8 Reasons You Should Attend Ascend 2017

      Great news! Ascend— the ultimate business summit for rehab therapists —is back. Last year, the third-annual event hit Fort Worth, Texas, for two incredibly educational (and incredibly fun) days. This year—September 29 and 30, to be exact—Ascend is heading to our nation’s capital. As we all know, DC is full of movers, shakers, and changemakers, and Ascend will keep that tradition alive—minus the political drama. This two-day conference is a can’t-miss affair. Here’s why: 1.) You’ll …

  • Get Wellness: How to Boost Your Therapy Practice’s Revenue with Cash-Based Services Image

    articleJun 14, 2017 | 5 min. read

    Get Wellness: How to Boost Your Therapy Practice’s Revenue with Cash-Based Services

    There’s a pesky rumor flying around the healthcare industry: the more successful your treatment plans, the less business you receive from your existing patients. When you get down to it, the prime directive for most rehab therapists is to improve the health of the patient until he or she no longer requires therapy. And from the patient’s perspective, the quicker his or her health improves, the happier he or she will be with your service—and that often …

  • Therapy Thermometer: How to Assess the Financial Health of your Practice Image

    articleMay 31, 2017 | 8 min. read

    Therapy Thermometer: How to Assess the Financial Health of your Practice

    Whether you’re looking to capitalize on the push for consolidation that’s currently taking place in the physical therapy industry—and you have a potential buyer or two nipping at your heels—or you simply want to make sure your clinic is running as it should be, you must get comfortable taking your practice’s financial temperature. After all, how else will those potential buyers know the quality of the business they’re purchasing? How else will you know that your practice …

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