Billing and collections is often the touchiest division of a physical therapy private practice.
We find that many owners are hesitant to take a good look and make a change when it comes to the financial lines, and that’s understandable! However, if there is a better system available to make the lives of you, your staff and your patients easier – don’t you owe it to your practice to explore it?
As practice management experts, the team at MEG strives to keep owners like you informed about the winning strategies that we know will elevate your practice operations. We do this though many avenues: our weekly blog, podcast, Zoomcasts, Resource Guides, etc. We also know that there are many types of learners, so we wanted to bring this information to you in video format as well!
Whether you’re considering in-house vs outsourced billing, building your ideal billing team, or tracking important metrics, these physical therapy billing tips provide practical advice and tools to help you succeed.
Our YouTube channel is fast-growing and jam-packed with topics organized into series, with practical advice and tools straight from our team of experts. Let’s take a look at the three major areas that you can begin optimizing your clinic’s Billing:
Part 1: In-House VS Outsourced Billing
Physical therapists DO NOT BILL! We were not taught this in school, nor should we be doing it in our clinics. So, who should be handling the money? Let’s weigh the pros and cons of in-house versus outsourced billing and consider which may be a better fit for your practice:
Part 2: What to Look For in Your Billing Team
If you choose to outsource your billing staff, what should you look for in a billing team? The MEG team explains what to look for when building your ideal physical therapy billing team, and what to look for if you choose to outsource (which we highly recommend). The secret to good billing includes closely tracking statistics and ensuring that you have the right EMR system in place.
Part 3: Which Metrics Are the Most Important?
We touched on statistics in Part 2, but let’s dive in to define the most important ones to track and measure in your billing department. In this final part, we discuss the key metrics that you and your team should be tracking for smooth Billing operations in your physical therapy private practice.
Ready to Improve Your Physical Therapy Billing Process?
We hope that these physical therapy billing basics really get your wheels turning, and that you spot those areas in your billing department that could use improvement. The good news: it’s never too late to make a change!
Want to consult the experts? Our team consists of specialized therapy billers, who are all about communication and leave no stone unturned. They are ready to take this huge burden off your shoulders – it all starts with a phone call. Do things the right way, the first time – request a free billing assessment and learn more about MEG’s Billing Solutions.
