Nobody likes demanding money from people, but you absolutely must collect patient copays. Here’s how to beat your collection anxiety.
Today, we will “chat” about the system of checks and balances your practice should have in place to ensure you follow compliance regulation requirements—in other words, your compliance plan. I know, at least lately, it seems the regulatory requirements to participate in health care have been sharply increasing. At PT Compliance Group, we have been focusing on the federal level, but state regulations and private insurance requirements also are changing. Below, I’ve addressed some of the questions I commonly hear regarding compliance plans.
Since 1996, Lakeside & Polson Physical Therapy has been a PT mainstay in Northwest Montana’s beautiful Flathead Valley. But when Samantha Modderman, PT, and her business partners took over ownership of the two-clinic practice last year, they couldn’t believe how outdated its existing billing and documentation methods were.
We all know that functional limitation reporting (FLR) means (a little) more work for (basically) the same reward. And that can be a hard pill to swallow for many therapists who are already stretched thin as a result of increasing caseloads and increasingly stringent documentation requirements. Even so, taking the easy road—the low road—and gaming the system—and thus, this profession—is not the answer.
Today, copays are the norm, and they’re only becoming more costly. To top it off, many insurance plans—especially those that individuals and small businesses purchase (including HSAs)—have very large deductibles that patients must meet before insurance will pay for anything. While it’s obvious that these increased copays and deductibles put a burden on patients, they also burden physical therapy practices.
Documentation sucks. We get it. We know it ain’t warm and fuzzy with rainbows and sunshine. It’s cumbersome and bang-your-head-against-a-wall frustrating. But as a physical therapist, it’s the name of the game. According to the APTA, documentation is crucial because it:
Steps to Take to Prepare for a PT Practice Audit
When you operate a physical therapy practice, there is a level of regulatory detail and scrutiny that is to be expected. Of course, the word “audit” is dreaded in every aspect of life, but for a PT practice, it should be expected and in a way, welcomed. A PT practice audit and the preparations you maintain to be ready for it keeps your practice operating properly and it assures that you will put due attention to the details of PT practice documentation.