Physical therapy is a strenuous profession in itself. It’s a time-consuming career with intensive physical exercises and broad treatment plans. Billing is also a complex undertaking. It requires high level of detail for maximum compensation. Both tasks need a lot of time and effort. You may find some aspects of your profession suffering due to lack of accurately dealing with everything on your own. Timely billing and coding are key in ensuring your practice stays afloat. Physical therapists should know the specifics of physical therapy billing while not forgetting the benefits of hiring competent physical therapy billing services providers.
Understanding the Physical Therapy Billing Process
There are two standardized code systems used in the physical therapy billing process: the International Classification of Diseases (ICD) codes and the Current Procedural Terminology (CPT) codes. The ICD was developed by the World Health Organization (WHO), while CPT is from the American Medical Association (AMA).
The Difference Between the ICD and CPT Codes
ICD-10 is the current ICD system of codes in use, although an improved ICD-11 system has been developed. It’s scheduled for release in 2025. ICD codes describes a patient’s illness. CPT codes describe the treatment given by the specialist. For instance, a dislocated shoulder diagnosis will have an ICD code. The treatment and ensuing therapy will have a CPT code.
When filing the physical therapy bill, you’ll need to include the two standard codes: ICD for the condition under treatment and CPT for the treatment. It may sound quite straightforward, but it’s not. There’re many codes in use at any given time. This makes it difficult and time-consuming to complete the process by hand. The frequent code changes also make it challenging to keep up with the most recent code updates. A simple mistake can have huge consequences.
Why Use the Right Codes
Your payment may be rejected if you use the wrong code. This will force you to resubmit your payment request, which can be tedious. The physical therapy billing process can significantly affect your practice’s revenue cycle. The time it takes to treat a patient and get paid is critical to your reputation and growth. Hiring expert physical treatment billing services providerscan make sure that everything is done accurately and on time.
Physical Therapy Billing Services Providers
Physical treatment billing services specialists can help improve the efficiency of your revenue cycle. Physical Therapy Billing offers comprehensive, streamlined revenue management service, from patient insurance eligibility checks and patient details to management and collection of client service revenue. We also offer detailed data reporting so you understand how your practice is fairing.
Our team is skilled in medical billing and coding. We boast years of experience working with outstanding physical therapy specialists. Physical Therapy Billing understands that your fiscal well-being depends on submitting correctly coded claims. We also try to reduce denial rates while maximizing returns through fast-tracked claim submission practices.
Physical Therapy Billing is the leading physical therapy billing services provider for several PT practices nationwide. Contact us today and let’s discuss how we can help streamline your revenue cycle.