Here’s our comprehensive guide to marketing for cash-based physical therapy practices—and what insurance-based practices can learn from them.
As 2018 draws to a close, it’s a good time to look back at some of the hottest topics and trends from the year. Some topics, like cash-based practice and pain science, have been in the spotlight for years—while others emerged only within the last few months.
Cash-based physical therapy practices are all the rage these days, and with good reason. They give PTs the opportunity to focus on providing quality care—without the pressure of altering treatments or billing practices to keep insurance payers happy.
If the rules of Advance Beneficiary Notices of Noncoverage (ABNs) make you a bit confused, you’re definitely not alone. In an effort to shed some light on the ins and outs of ABNs and to highlight some recent changes to ABN requirements, Medicare created this set of FAQs clarifying their use. Here’s some info to help bring you up to speed:
Some things come as no surprise. Our 2018 State of Rehab Therapy survey validated one pain point we hear about constantly: insurance regulations are one of the biggest barriers to providing quality care to patients. With all the red tape you have to cut through to receive reimbursement for the treatment you provide—not to mention the hoops you must jump through to get (and stay) credentialed with payers—it’s no wonder that more and more PTs are turning to cash-based practice models. After all, with payers out of the picture, PTs can truly focus on providing exceptional patient care.
Insurance payments for healthcare services have been declining for a while now, which means providers in all disciplines are looking for ways to optimize their payer mix in order to maximize their revenue. If you haven’t yet calculated the cost of providing your services—and compared that number to the payments you’re receiving to ensure you’re actually making enough money to not only cover those costs, but also turn a profit—then you should.
Choosing your practice’s physical location is just as important as picking the right people to fill it. Before you sign the dotted line, follow these steps to ensure you make the right decision.
What if I told you there’s a physical therapy practice model that requires minimal investment, has a low operating cost, and is practically burnout-proof? What if I added that this model provides a steady flow of new clients and is well poised to meet the rehab needs of the Baby Boomer generation?
Earlier this week, WebPT’s president and co-founder, Dr. Heidi Jannenga, PT, DPT, ATC/L, teamed up with cash-based physical therapy guru Dr. Jarod Carter, PT, DPT, MTC, to host a webinar covering all things cash pay—from insurance contracting considerations and Medicare rules to self-referral marketing and service pricing.