Billing can be a pain. When you’ve got a therapy clinic, or even 3 or 4, to run, billing pains can be more than frustrating. The complicated process is not easy to navigate and can cause your revenue generation to suffer. A dedicated, well-trained billing team would be ah-mazing, but the cost of payroll may not be an option. And even with a billing team on staff, they could be wasting their valuable time with administrative headaches like tracking down claim denials and keeping current with coding guidelines. And mom-and-pop billing services may not allow you the visibility you need to feel confident in your finances.
But you’ve got to keep the lights on. Maybe you’ve got plans to open another clinic or want to bring about some much-desired improvements to your current locations. So, there you sit, struggling with inefficient billing methods. Luckily, there is an alternative.
Rather than trying to keep up with the daily humdrum of billing for your physical rehab clinics, entrust technology and the experts they work with, automate and streamline this process. You likely already use an EMR, so let that software handle your billing. Even better if it’s an EMR designed for your specialty and knows the ins and outs of billing for your specific practice.
Of course, onboarding new software can be daunting. Fears of slowing down business during the onboarding process, training, cost, usability and so much more are all valid concerns. But, when you outsource billing to your EMR, the benefits far outweigh the costs. While you’ll incur an extra cost onboarding a new software, it goes a long way in making sure your clinic receives more of what it earns. Integrated billing services will help you get every dollar you earn rather than lose it in the claim management process.
1. Streamline Workflows
Billing, especially insurance billing, can be a nightmare for practitioners. Insurance companies do very little to support providers when it comes to submitting claims. As a result, many physical therapy clinics end up losing hard-earned revenue to denied and rejected claims, delayed payments, etc. etc. Not only that, the time it takes to rectify claims can be a real burden on your staff.
With billing automation put in place thanks to your EMR software integration, you can get back to treating patients and rest assured that your revenue cycle is running efficiently and effectively.
2. Protect Patient Information
Your patients’ information should remain confidential and protected from unauthorized persons. Your EHR software is fully equipped with the technological infrastructure to make that happen at no extra cost to you.
The software is also compliant with privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA). This means all patient information is kept safe, and you shouldn’t worry. Instead, you should channel the efforts in restoring their health.
3. Maintain a Steady Cashflow
Whether you hope to expand, want to invest in your existing locations, or if you simply want to have a little more financial security with your current clinic operations, an efficient billing process can help you increase revenue generation even without increasing intake.
When you trust physical therapy billing services to fix any holes that may be leaking revenue in your operations, your accounts will thank you. With billing experts and software automation working behind the scenes to prevent claim denials and reduce the time it takes for you to see reimbursements from insurance payers, your accounts receivable balances should decrease. Which means more money in your pocket.
4. Save Time and Hassle with Complete Integration
No doubt, you’re a pro at multitasking. Yet still, technology should reduce administrative burdens, not add to them. When you trust your EHR’s physical therapy billing services, you can access everything you need for effective practice management right from a single software instance. You can’t make a clone of yourself, but this is the next best thing. With complete integration of your clinical support tools and your billing service, you don’t have to spread yourself and your staff across too many log-ins and can keep a better eye on your practice and finances than you could by hiring a separate billing entity.
5. Access Customer Support and Education Tools
Factors like usability and training are normal and valid concerns when it comes to outsourcing any aspect of your practice management. Thankfully, when you trust your EHR, there’s one less system to learn. Plus, most competitive EMR products include a wealth of training for their users and helpful staff to get you started on the right foot and support you throughout your partnership.
6. Run Comprehensive Financial Reports
The key to effective practice management, especially when operating more than one clinic, are reports that provide insight as to the current state of your organization. With physical therapy billing services fully integrated with your EMR, you have an easily accessed ay on top of your payer payments with detailed billing reports. Generate graphs to identify the billing codes that make you the most money, which payers take the longest to pay, which payers owe you the most money, and much more.
Integrated Physical Therapy Billing Services: Final Verdict
So, there you have it. Whether you’re currently outsourcing your physical therapy billing services to another company, have a team on board already, or have filled a toolbelt with billing tools, you and your organization could stand to benefit from billing services integrated into your EMR. Schedule a demo today to learn more about Fusion Web Clinic and our fully integrated billing service designed specifically for pediatric physical, speech, and occupational therapy.