Utilizing physical therapy billing services can help your practice remain or become financially healthy. These services enable you to file claims correctly and in a timely manner leading to higher reimbursements and fewer denials. Physicaltherapybilling.com offers quality physical therapy billing support and analysis to help practices improve their revenue flow.
Benefits of Professional Physical Therapy Billing
Reduce Administrative Workload
Coding and billing are complex, time-consuming tasks that can take attention away from your core mission: treating patients. Professional billing service providers can reduce the administrative burdens on your practice by handling all the aspects of the billing process. This frees up more time for you and your staff to focus on serving your patients.
Physicaltherapybilling.com handles tedious aspects of the billing cycle processes, like verifying patient insurance and submitting claims.
Improve Billing Accuracy
Physical therapy billing involves codes and regulations you should comply with to minimize errors. Failure to follow billing regulations can cause payment delays or denied claims. Professional billing services have extensive knowledge of billing regulations and requirements and take the time to confirm that all your documentation and billing processes align with industry standards.
We run a claim denial management program to reduce claim denials. The program consists of a 25-point pre-bill review to verify everything is completed accurately before submitting claims. The review evaluates patients’ demographics, insurance information, and coding and billing data. There may be fewer opportunities for error due to our extensive review process.
Improve Revenue Cycle Management
Revenue cycle management (RCM) involves managing the financial aspects of a physical therapy clinic, including patient billing, insurance claim submission, and collections. The RCM process can be complicated when dealing with multiple insurers. Billing service providers can provide specialized expertise in medical billing and coding to enhance RCM.
Physicaltherapybilling.com runs an efficient RCM platform that facilitates timely revenue collection. Our platform features automation tools to streamline billing and allow you to get value for your services by eliminating billing and claim submission errors.
Track Your Growth
At physicaltherapybilling.com, we also provide financial reports that can help you analyze your revenue and expenses. The reports can show whether your business is growing and highlight areas needing improvement. They can also help you identify trends in your billing and collections processes. This information can help you reevaluate your billing procedures and follow up with the insurance providers with unpaid claims.
We can schedule weekly and/or monthly meetings with our clients to help them assess their billing procedures and track their growth. Weekly meetings focus on the claims billed in the previous week, whereas monthly meetings focus on the total revenue collected in the preceding month. This data can make it easier for your financial manager to monitor your practice’s financial health and provide well-informed recommendations to improve your performance.
Get Reliable Physical Therapy Billing Services from Physicaltherapybilling.com
Physicaltherapybilling.com offers efficient physical therapy billing services to provide a consistent revenue flow for your practice. We can reduce your administrative burden to help you focus on patient care.