If you provide physical therapy (PT) to patients/clients, you need an efficient revenue cycle management system to get patients their deserved reimbursements. The physical therapy billing process can be tedious because of the level of specificity involved.
You need approved standards, codes, and billing steps to receive maximum reimbursement for the services rendered. That’s where PHYSICALTHERAPYBILLING.COM comes in. We partner with PT practices to help them follow billing regulations and collect all their revenue.
Here are the main steps in PT billing:
Software/Billing Service Deployment
The first step in PT billing is deploying the necessary systems. Modern software systems can help you manage, track, and control all aspects of the billing process. At PHYSICALTHERAPYBILLING.COM, we utilize efficient systems to handle claim tracking, ERAs, custom reports, EOB and payment posting, and clearinghouse integrations.
Our revenue cycle management covers insurance credentialing, provider enrollment, and insurance verification and precertification. The RCM software also handles patient registration, EHR, CPT coding, ICD10 coding, charge entry, claim submission, and payment posting. Other aspects include patient inquiries, accounts follow-up, denial management, reporting, and performance improvement.
Patient Registration and Verification
Registering and verifying patient information must be done before you begin treatment. With our service, you can collect information before the patient arrives for their first appointment. You must verify personal details (name, ID, group number), payment information, insurance information, and primary and secondary plans.
Patient verification involves contacting the insurance company to make sure the current plan covers the service. You need to know if the insurance company requires preauthorization or referral before treatment. The objective of this step is to capture patient details accurately and determine if they’re capable of paying for the PT services.
PT Service Coding and Charge Entry
Physical therapists use various CPT codes for different services. You can find codes for billing the initial evaluation and reevaluation, therapeutic exercise, neuromuscular reeducation, gait training, and more. Each billable service you provide requires a code. Physical therapists also use timed and untimed codes for Medicare, modifier codes, and telehealth codes.
PHYSICALTHERAPYBILLING.COM can help you with all the CPT and ICD10 coding requirements to make sure all services are charged. The charges are then entered into the system in readiness for claim submission. We aim to get the coding right the first time to prevent resubmissions and issues with insurance companies. You also need defensible documentation to demonstrate medical necessity.
Claim Submission & Follow Ups
The next step after coding and charge entry is claim submission. Physical therapists can collect copays and cash payments from patients. Amounts covered by the insurance company are included in the claim submission. The insurance company reviews the claim and pays the full or partial amount depending on the plan they have with the patient.
If anything is wrong with the claim, insurance companies won’t pay. You can follow up and appeal denied claims to make sure you get maximum reimbursement. Our revenue cycle management can help you with denial management and reporting. The goal is to collect all revenue in time and maintain a steady cash flow to keep the practice running.
Efficient Physical Therapy Billing Service
At PHYSICALTHERAPYBILLING.COM, we aim to help PT practices retain more of the revenue they work so hard for. We provide a comprehensive physical therapy billing system covering all aspects so you can improve revenue per visit. Our revenue cycle management also streamlines processes, making billing efficient and effortless. You can monitor and control the billing process through an intuitive dashboard that always keeps you updated.