Posts Tagged ‘compliance’

Physical Therapy Billing – Shared Knowledge Base for improved control and compliance

November 10, 2009

A new industry of high-technology rehab and physical therapy billing is under the auspices of its promise to streamline the collection and to let doctors take care of more time for mushrooms to their patients. Although there are many high quality services and systems that have an overwhelming variety of options and attractive (is not yet proven) performance claims from some providers employed doctors in the poor strategic decisions for their practices charmed.

"No physical therapyEducation or rehabilitation program prepares us for the harsh realities of daily struggle with insurance companies in full and on time, "says Yaffa Liebermann, PT, GCS, and CEO pay
Prime Rehabilitation Services, Inc. "A new physical therapy program graduate lacks basic knowledge about payer-provider Unfortunately, HIPAA, audit mechanism, SOAP note management, reporting tools, billing profitability metrics, and outsourcing opportunities. And no program teaches ushow to collect the modern computer and the Internet and use our collective health and practice management using knowledge. "

Billing Quality Statistics

To the financial, how bad the provider is to understand the situation, it is important to recognize that in practice an average 17.7% of claims 120 days overdue. In other words, about 1 in 5 cases charged today do not pay until four months from now. Although thisdoes not seem to be a problem, as would be expected that eventually the money will be in fact an unpaid claim that is 180 days past due, has become less than 1% chance of ever paying. This may be good news for insurers, but it is certainly bad news for physiotherapists.

It is important that the fact that these statistics are some news practices, is part of the problem to know: Many physical therapy or rehabilitation procedures are not even their basic needs, financial parameters, such as "AR past120 ".

Uneven playing field

Providers and payers to play tug-of-war on opposites sides of the same claims, but the contributors have made substantial investments in infrastructure and personnel. Providers to play on the other hand, in the worst conditions. Apart from the initial exposure case, they are completely passive at every step. Wait until the customer the demand to wait for the error, wait for the review of the corrected template, and then wait to checkto wait.

In physical therapy practice, "Waiting" may be difficult to estimate because each deals with new posts resubmissions, and appeals. There is little time to take a more active role.

Vericle – into a common repository Billing Solutions

The rules of the game will not change in the foreseeable future, and the sender will continue to own tables for at least that long, but today's physical therapy practice is not doomed to lose every hand.More and more practices are taught that intelligence through the game, they spend less time on collections and more time with patients. What is the secret? It boils down to finding errors before the customer even knows the entitlement to the formulation and encoding the rules on search and correction of errors, and the insistence on a disciplined follow-up to any delay and underpayment.