articleApr 27, 2017 | 6 min. read
According to Pink Floyd, money is a “gas.” While the surface level interpretation of that lyric may be that money is fun and entertaining, the word “gas” seems deliberate here. After all, money is fuel. We as a society run on it, and yet, so many of us—including rehab therapy professionals—manage it poorly. The trick to better financial management is knowing what to actually manage—or more specifically, what to track, monitor, and act upon. With that in …
downloadDec 22, 2016
Turn on any mobster film, and you’ll quickly understand the importance of paying back any owed debts. Likewise, rehab therapy patients with overdue accounts need to eventually pay up; after all, your business depends on your success in collecting those funds. Plus, if these issues fester with enough patients—and for extended time periods—you run the risk of closing your doors for good. So how do you navigate the tightrope of writing an urgent collections letters that's stern, …
articleOct 20, 2016 | 7 min. read
When the stakes aren’t high, people are more forgiving of flubs. If you have a bad hand, a missed stroke, or a poor toss, you may cry, “Mulligan!”—and get a do-over. But, what happens when the stakes are high—like when you’re billing for physical therapy services, and you suffer a denied claim? Do you get a mulligan? The short answer: yes. The long answer: I wouldn’t necessarily call appealing a denied claim a “do-over,” but the important …
downloadSep 15, 2016
As a PT, you put your heart and soul into your work. So, it’s only fair that you get paid what you deserve. Unfortunately, payers don’t often see it that way, which means that in order to get what you want out of your private payer contracts, you’ve got to negotiate. And to do so successfully, you need to know how to play ball. Enter your email address below, and we’ll send your free guide.
articleJun 28, 2016 | 1 min. read
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? Take this short quiz to find out.
articleJun 22, 2016 | 4 min. read
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 …
articleJun 20, 2016 | 5 min. read
If you think revenue cycle management (RCM) only involves billing your patients, then Houston, we have a problem. As indicated in this Greenway Health resource, your RCM strategy should account for the manner in which your practice generates, captures, and collects revenue—and that means getting your whole crew on board with adopting optimal RCM practices. But before you can launch a successful RCM strategy, you should perform a pre-check. Here are a few questions to ask yourself …
articleJun 16, 2016 | 1 min. read
Physical therapy billing is complicated, and choosing the right solution to handle your processes can be challenging—to say the least. That’s exactly we created this quiz—to help you determine which solution can help you more efficiently run your practice. So, which one should you choose? Billing software or an RCM service? Take this quiz to find out.
articleMay 3, 2016 | 4 min. read
We here at WebPT love people; in fact, putting people over profit—and everything else—is written into our company DNA . We believe that people are the greatest asset in any organization—big or small—in any industry, including rehab therapy. That said, people are complex creatures who need time off and make mistakes and—sometimes—gossip about their coworkers. And when those moments happen, your PT EMR could take the cake for employee of the day (or month)—if you’ve chosen the …
articleDec 21, 2015 | 3 min. read
The new year is a time to begin again with a clean slate—and to tackle all those to-dos you’ve been putting off. Before you pop the champagne (or pour yourself a large cup of coffee) to prepare for your New Year’s Eve celebrations, take some time to make sure your practice is prepared, too. This may be a busy time of year for you, as patients hurry to take advantage of their remaining benefits before insurance plans …
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