Considerations for Outsourcing Physical Therapy Billing Software
How your company handles your physical therapy billing services is important to the efficiency and functionality of your PT clinic. Whether you’re currently using in-house or outsourced billing, it’s possible that better solutions for YOU exist. For instance, some insurance carriers cow providers into accepting lower rates for services rendered. Let’s review a few considerations for outsourced billing.
Your first question when deciding on outsourcing physical therapy billing services is most likely how much it will cost. To better streamline your practice, it might be an option for you to outsource your billing, that is, you can hire an independent billing contractor to take care solely of delinquents, receivables, and problem accounts. Typically, however, the cost can range anywhere from 6-12% of your monthly claims collections. However, you should ensure that whoever you hire must be very experienced, knows all the current ins and outs of state laws, billing codes and rules, and your rights as a provider.
If you tend to see a high turnover rate for your billing staff, you may want to consider outsourced billing. Users simply need to log in to the system to access patient information. No longer will staff members have to spin their wheels chasing down details. It will all be right there at their fingertips.
Additionally, any first rate systems will also offer a firm an application that offers physical therapy billing software. It’s the attention to detail that should be on your radar. The fact is, this is YOUR money – the service is just handling it. Often, PT practices utilize various computer resources for various functions.
Other important questions to ask would be about the companies’ actual location. This directly translates into employees wasting valuable time with dual entry rather than focusing on patient needs and requirements. Using a comprehensive computer solution means only mastering one process for the ultimate in user convenience and ease. Don’t pay for hours of inefficient data entry – look up options that can integrate documentation and billing service.
It also ensures a fit specifically personalized for your organization. Integrated billing service solutions offer full-service billing at 6.5% of total claims collections. If there is no income, your business will not last for very long considering there are salaries, expenses, and overhead that always need to be paid. Instead, a few simple keystrokes will generate all the supporting data needed to prove your practice is truly on top of its game.