A therapist can easily see more than 100 patients in any given month. This would translate to over 100 billing statements. If done manually, creating and submitting these statements can use up a time that could be better spent with patients. This is where the physical therapy billing software comes in.
The idea between the physical therapy billing software is to streamline the process of creating clean claims, submitting them to payers and getting paid. A physical therapy billing software might also provide financial reports that can assist the business owner in coming up with ways to make the practice more profitable.
When a new or existing patient calls or walks in, patient information including insurance details is entered into the physical therapy billing software for billing and insurance purposes. Most software has the feature to check for eligibility. As the insurance coverage is verified, the front office will immediately know if a referral is required or not.
As the patient proceeds to initial visit or consultation as the case may be, procedures and treatments are added to the physical therapy billing software. After which codes are to be applied for reimbursement from insurance payers.
A physical therapy billing software also has the capacity to scrub the codes. This will ensure a clean claim is submitted to avoid any rejects or denials that will cost the provider money. This built in QA process allows code scrubbing to be done in a fast and efficient manner.
Once a claim has been deemed clean and ready, the physical therapy billing software will now submit it to the appropriate payers accordingly. A report of the claims sent, sent back with errors, or rejected will be received by the billing staff after every batch of claims sent.
A physical therapy billing software that can generate claims reporting and receivables aging can assist greatly in making sure that the therapist is getting paid on time. Delays in reimbursement can adversely affect the cash flow of a physical therapy business and a denial will mean loss of revenue.
Without any doubt, an integrated physical therapy billing software with the features mentioned above will definitely make the life of a physical therapist easier. Now, patient records and billing can be done during a patient session and finished right after the patient leaves.
An efficient and effective physical therapy billing software frees up more time for the physical therapist to spend more quality time with patients.