Are you a physical therapist or are you managing a physical therapy practice? Then it is important for you to select the right physical therapy billing service that will help you when dealing with complex insurance rules, coding guidelines, and regulatory changes. You will also prefer to have specialized support by your side when trying to optimize revenue cycle management.

Here are the must-have features to look for in a physical therapy billing service.

1.Committed Billing Manager and Team

Having a dedicated point of contact who oversees your account ensures personalized service. A dedicated billing manager and team that specializes in PT billing is essential for staying on top of changing regulations and optimized revenue. Make sure the physical therapy billing service has expertise specifically in PT rules and regulations.

2.Collaborating with Your Software

Choose a billing service that can integrate seamlessly with your EHR and PM systems. They should be able to collaborate, not conflict, with your existing workflows. Seamless integrations reduce manual workloads so your staff can stay focused on patient care.

3.Charge Entry and Claim Submission

Look for quick, accurate charge entry and claim submission. The billing team should understand compliance requirements for PT documentation and coding. Detailed reviews safeguard against errors to achieve higher first-time claim acceptance rates.

4.Payment Posting

The billing service should post payments promptly and reconcile accounts accurately. This helps you track revenue and accounts receivable. Experienced staff properly interpret explanation of benefits and match to initial claims to prevent future objections.

5.Follow Up and Appeals

A good billing service pursues unpaid or underpaid claims through follow up, appeals and denial management. Payment delays and underpayments can significantly impact cash flow. Persistent follow up includes resubmissions, denial appeals letters, and telephone calls to facilitate rightful reimbursements.

6.Customized Reports

Ask about the reporting capabilities and metrics provided. Custom reports with AP/AR trends, aging summaries, etc. help you make smart financial decisions. Robust analytics should present clear visualizations of revenue cycle metrics to inform management decisions.

7.Patient Statements and Inquiries

Do they handle patient statements, balance notices, and inquiries professionally? This protects your patient relationships. Compassionate customer service maintains your professional reputation while addressing billing questions.

8.Aging A/R Recovery

End-to-end A/R management improves collectables and recovery of aging accounts. Make sure the billing service performs account follow ups beyond claim submission. Successful past recoveries of aged accounts make projected collectability more accurate.

9.Insurance Benefit Verification

Upfront verification of patient benefits helps minimize claim issues down the line. Check if this service is included or optional. Convenient online patient portals reduce verification workload for your front desk staff.

10.Credentialing

Ask if they handle provider credentialing with insurance companies. Keeping credentials up-to-date is very important. Streamlined application procedures and attentive document preparation optimize approval odds and decrease costs.

Final Words

Now you are aware of the benefits that a physical therapy billing service can offer. By partnering with the right service, you can get much-needed assistance to take your business to the next level of success. In other words, the billing service will be able to act as an extension of your practice. You will then be able to focus more on the patients and deliver optimal care.