It’s common for business owners to regard outsourcing as giving away control. But a physical therapy practice can gain an enormous amount of control by hiring a billing service to handle the complex machinations with insurance company accounts and collections. As a physical therapist, your very trade is hands on. Therefore, you should provide yourself with more time to be hands on – with patients, not insurers. Choosing the right billing service can mean a lot of great things for you, your business, and even your clients.
People Over Software
Software companies will do everything in their power to get you to go with their billing ‘solutions’. They’ll package their software with compliance paperwork, an update or two, and even some occasional one-on-one support – at least on a trial basis. In time, that support will wane as that software company chases newer meat. When updates and upgrades come, it will be your office admin staff who have to figure out the changes. Maybe you should consider hiring a billing service that provides actual people to do your practice’s billing and collection work and keep up with changes to insurance codes, procedures and coverage. The personal touch should be a great relief to you, especially being able to communicate with real people and get actual solutions without needing to worry about billable hours or bugs in programs.
Happier Staff
In your practice, you rely on a few things to be successful: people, product, and processes. You need to trust these three things to ensure your practice runs smoothly. You have the people and the product, but the billing process can be complex and frustrating. Let’s face it, the health care and insurance industries change almost every day. Take the pressure off you and your staff trying to keep up with those changes by hiring a billing service. Happy staff = improved business productivity. You will streamline your billing and collections processes while creating a happier group of employees. After all, they came to work for you, not the insurance companies.
Cost Effective
Run the costs of hiring a physical therapy billing services vs doing everything in-house. You might be surprised which way costs more in hours, staff numbers, training and software. There are big investments – upfront and ongoing – in handling everything in-house. Often it’s too much for one person to handle and you’ll need to hire several, in case one leaves or gets sick. Outsourcing will allow everyone to focus on the job at hand: helping people.
No More Dealing With Disputes
When you hire a billing service for your PT practice, the burden of chasing up insurance payments – and the inevitable disputes that occur – is lifted from your shoulders. As you know, some insurers do everything in their power to delay payments, dispute claims, and argue over nitty gritty details. Then there’s the process of enrolling new practitioners. Smaller practices can feel overwhelmed and wonder if they’re be taken advantage of. This kind of stuff is enough to make a physical therapist question why he/she decided to own a practice in the first place. The right billing service will handle everything for you. Seriously.
Return on Investment
For many physical therapy practices, collection and billing is often out of sync. Furthermore, regular admin staff may not know all the ins and outs of insurance properly, resulting in lower amounts collected for each patient visit. Many private practice owners lose money due to write-offs, ineffective negotiating, and higher than normal adjustments. It’s not your fault if this is happening. Your focus is on patient care, as it should be. But the waste can be stopped. Remove the burden and increase your profits by choosing among right physical therapy billing services to ensure every dollar owed is collected and to dramatically improve your processes and collection per visit statistics. Let your concerns be about assisting patients to recover, not about dealing with a relentless and complex insurance maze. Hire the right billing service for your physical therapy practice and remove one of your greatest sources of stress permanently. Creative Commons Attribution: Permission is granted to repost this article in its entirety with credit to Jet PT Billing and a clickable link back to this page.
Tags: best physical therapy billing service, pt billing services, what to look for in a pt billing company
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