The overheads associated with operating a physical therapy practice can be a daunting proposition for a new physical therapy business owner. It starts from renting the space to set up the practice and goes on to buying equipment and furniture, marketing, cost of payroll, insurance and so on. The cash should flow in consistently to meet your overheads in time. Bringing down the overheads will make it easier for the physical therapy management in new clinics to compete with other established physical therapists in the community. By hiring the professional support of physical therapy billing firms and physical therapy management software solutions like Clinical Contact and automated patient newsletter marketing systems like Therapy newsletter, your clinic can enjoy automation and costs savings while growing your physical therapy business.You can also facilitate prompt payments from insurance companies.
With the right physical therapy management suite, you can generate more revenue from your physical therapy practice and serve patients better. You can schedule your patients more effectively, code and bill them with least possible errors, enter the patients data, submit insurance claims, follow up on the claims, re-submit the claims if there’s any denial, follow up and collect outstanding payments and so on in a professional manner. The cash flow in your physical therapy clinic will be a lot more consistent. Physical therapy billing coding companies will manage the submission of all your claims to Medicare and private insurance payers with minimal error. Physical therapy management requires a dedicated effort from all private practice owners. This is an essential part of all practice management for physical therapists.
Your physical therapy patient schedule prevents you from focusing on the main drivers of your physical therapy business.
The main goals for physical therapy management should be:
a) Focus on the practice (conditioning patients to refer, building new referral sources with doctors instead of being trapped in the practice (patient treatments, answering phone calls, voicemails, emails, sending faxes)
b) Educating, motivating and delegating to staff
c) Finding the right physical therapy management suite, and combining it with the best physical therapy billing coding solutions. Look for a billing software that can schedule appointments, detect data entry or coding errors, track patients, transfer data and interface with medical records.Ideally, this billing program should sync automatically with automated marketing programs that trigger patient reminders, improve patient arrival rates and condition patients to refer friends and family. The leading program that does all these things (and much more tasks like mobile marketing, email marketing and voice broadcasting is Clinical Contact. You may also want to consider automated patient newsletter marketing tools like Therapy Newsletter.
The best physical therapy management suites will handle data entry, insurance submissions, Medicare forms and more in a professional manner. Physical therapy coding and billing will be done perfectly. The coding errors or incorrect billing procedures may result in a delay in payments from the patients and insurance companies. Your invoices and claims are reviewed, processed and investigated by highly skilled and seasoned professionals of the government and insurance firms. Any error such as minor data entry or coding error or a miscommunication will be identified and the claims submissions will be denied or rejected.
Insurance billing procedure and coding systems are modified frequently. By hiring physical therapy billing professionals who use the latest physical therapy management software, you will minimize the chances of coding errors in your invoices. Your physical therapy software provider will appeal every denied claim after identifying and rectifying the error that caused the denial. Since they work on a percentage of the total revenue of your practice, the extra efforts or manpower used for the re-filing of incorrect claims should not be a source of stress for physical therapy management in a physical therapy clinic.
Once you find the right physical therapy billing and management program, you will be relieved from the stress of running your office and can invest your quality time treating and curing your patients. If you want to take your practice to the next level, you can concentrate on converting more prospects into patients, working on your practice instead of in it. Physical therapy marketing helps you manage your practice successfully.