If you contract with third-party payers, then you’re most likely already familiar with the term [cue ominous thunder sounds] “prior authorization (a.k.a. preauthorization)”. And if you’re not yet, just wait. This Verywell article—written for patients—explains that when an insurance company requires prior authorization, healthcare providers must obtain approval from said insurance company before providing patient services, treatment, or equipment.
In our 2019 State of Rehab Therapy survey, 80% of respondents cited payer requirements as the top reason their organizations require physician referrals as a condition of treatment (even in states with unrestricted direct access).
Rehab therapy market consolidation is a hot topic that’s only gotten hotter over the last few years. But when large companies start to absorb your local competition faster than you can blink, that hot topic suddenly becomes uncomfortably close—and you may feel pressured to consider a voluntary sale before you’re swallowed up by the flames.
Earlier this week, WebPT President Heidi Jannenga, PT, DPT, ATC/L, and guest host Tannus Quatre, PT, MBA, hosted a webinar designed to help physical therapists learn the art of discovering—and selling—their value. While PTs have historically shied away from sales, in today’s evolving healthcare ecosystem, it’s absolutely imperative that all providers—and especially specialists such as rehab therapists—excel at positioning the benefits of their services in such a way that resonates with patients, payers, and referral sources.