5 Reasons to Use a Physical and Occupational Therapy Billing Company
1. Quicker Reimbursements and Reduced Number of Denied Claims.
Unless you are experienced at billing physical and occupational therapy claims, it can be difficult knowing what information needs to be submitted to get paid for the claim. Using a reputable and experience physical and occupational therapy billing company can drastically reduce the number of non-pays due to submitting incorrect and/or incomplete claims. And when claims are submitted electronically they are entered into the claims process quicker than when they are submitted using standard mail, thus the claim is paid faster.
2. Reduce Accounts Receivables and Improve Cash Flow.
When a physical and occupational therapy claim is submitted with the correct information, the number of days a claim goes unpaid is drastically reduced, therefore reducing your accounts receivables. This shortens the period of time from when the treatment was provided to the time you get paid, thus your cash flow position improves.
3. Increase Amount Paid Per Treatment Provided.
Physical and occupational therapy billing software will maximize the number of codes billed per session, ensuring you are billing for all treatment conducted. And the software should be able to prevent you from billing for a procedure that the patient's insurance company will not pay.
4. Minimize Disruption Due to Employee Turnover, Reduce Your Staff and/or Make Your Staff More Efficient.
One of the most disruptive events in any business is the loss of a key employee(s), especially one with the skill set to handle physical and occupational therapy billing and collections. Finding an experienced replacement can be costly and time-consuming. And hiring someone that is inexperienced means they will be learning on the job. Using an experienced physical and occupational therapy billing company eliminates the problems that come with employee turnover.
5. Standardize Documentation and Mitigate the Impact of Audits.
Software provided by the physical and occupational therapy billing company will ensure your documentation is standardized, consistent and compliant. You can mandate that each therapist document treatment in the same way. This eliminates inconsistent or poorly written notes and makes it much easier to defend yourself in case of an audit.