It is getting harder and harder to deny that managing your reimbursements and collections is becoming just as important as providing quality care to your patients. The multitude of sources in which a physical therapy practice can receive payment adds a level of complexity to each private practice’s business. As a result, it is not uncommon to see a private practice become strapped with past due bills and other payments to be collected. Utilizing a good reimbursement program will alleviate a lot of the financial pressures that may pose a threat to your physical therapy practice. There are steps you can take to help make the process a lot more efficient and successful. The first step is to make reimbursement and collections the primary responsibility for someone working in the practice. Generally, the more experienced and knowledgeable the staff member, the higher the returns that the practice will see. Another benefit of using an experienced member is that you won’t have to make reimbursements their sole responsibility, just their primary focus. Also, insurance companies frequently change/update their claims forms and procedures for filing these claims. It is important that the person who is handling the reimbursements and collections maintain a solid grasp on those changes when they happen. Denied claims will add unnecessary time to collecting reimbursement from insurance companies so it’s important to fill out the claims correctly the first time through. It is important to state a specific goal for the treatment given and also give precise and detailed updates on that treatment. A common mistake that leads to a claim denial is over-billing for the same treatment. A hip injury that may also need treatment to the legs and knees should all be filed under one form instead of multiple forms. This small detail can significantly decrease the amount of time between filing a claim and receiving reimbursement for services rendered.
Working in the personal injury field requires timely turn around with attorneys. These attorneys seek out Physical Therapy offices that are well versed in everything personal injury. An example of these knowledgeable offices can be found on the website www.PowerLiens.com. Their Preferred Providers are a select group of doctors within their directory (the largest on the internet) of physicians who work on a lien who have shown the ability to handle injury cases in a very efficient manner.