Perks of Outsourcing Billing for Physical Therapy Services
Increased Importance of PT
Physical therapy is becoming more important for practices and healthcare organizations than ever before. Patient populations are becoming larger, while also growing older. Older patients have increased rehabilitative needs, regardless of the reason for admission. Whether an elderly person is receiving inpatient care while recovering from a stroke, heart attack, surgery or other reason, receiving physical therapy often correlates to better outcomes and a lower chance of costly readmission. In this changing environment with a higher demand than ever for physical therapy and rehabilitation services, many practices are feeling stretched thin to provide quality care in proportion to their budget. This challenge can be managed by outsourcing billing for physical therapy services to a reliable medical billing company.
Perks of Outsourcing Billing for Physical Therapy Services
Expert in PT Coding
Physical therapy billing is part art, part science, and competent billers can be hard to find. A biller with 20 years’ experience may know nothing about the PT industry and its intricacies, because every specialty has its own nuances. A physician may see a patient once, then schedule a follow-up visit in several months. Physical therapy, as you know, usually involves several visits a week for a certain time period. The methods to maximize revenue capture differ, as will contracts with insurers. If you can’t find a competent biller who has experience in the PT industry, you may want to outsource. Outsourced medical billing might have physical therapy coding expert who has been ensuring accurate coding for other physical therapy service providers.
Up-to-date with the Latest Regulations
A medical billing and coding constantly undergo changes in both rules and regulations. COVID-19 public health emergency accelerated these changes with almost monthly updates in billing guidelines and payer policies. It can be a tedious and time-consuming task for any practice to keep up with all the changing laws and regulations. In the event of a regulation change for your medical billing requirements, an outsourced medical billing company would be the one to comply with the rule change as they would stay informed.
Better Focus on Patient Care
Managing an inpatient physical therapy department comes with a number of challenges that many hospitals find increasingly difficult to overcome. Physical therapy outsourcing is a solution for hospitals who are looking for assistance managing their inpatient physical therapy and rehabilitation services for patients in the recovery process. By outsourcing physical therapy management to a dedicated and experienced partner, hospital administrators are able to free up valuable time and resources to refocus on other core service lines to deliver a better patient experience.
Receive Accurate Reimbursement
With increased costs, more regulations and higher hurdles to receiving full reimbursements from payers, hospital leadership is increasingly walking a tightrope between staying solvent and providing the level of services that patients require. The unique management requirements of physical therapy can make it difficult to scale with the budgetary needs of many hospitals, especially smaller or more remote facilities. Medical billing company ensures that all your submitted claims will get accurate reimbursements. Any rejected or denied claim will be addressed, corrected and resubmitted to ensure providers are not losing any money.
Cost Effective
Patients who receive physical therapy are less likely to need the unnecessary readmissions that result in costly penalties from payers. Outsourcing your physical therapy can not only better ensure that your patients have received a full course of rehabilitative care upon discharge, but it can also help you reduce labor costs that were tied up trying to manage a physical therapy program in house. As a billable service, physical therapy and rehabilitation should be a significant source of revenue, but improper documentation can result in denied claims, delayed claims and reduced reimbursement rates. An experienced medical billing company can help you put the right systems in place to ensure that you receive the correct payments for the care being performed.
Legion Health Care Solutions is a leading Medical Billing Company providing complete Physical Therapy Billing and Coding Services to ensure accurate insurance Reimbursement for your practice. Our services include PT coding, charge entry, payment posting, denial management, eligibility verification, and Accounts Receivable (A/R). To know more about our Physical Therapy Billing and Coding Services, contact us at 727-475-1834 or email us at info@legionhealthcaresolutions.com
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