Billing Software for Physical Therapy: Why It’s Needed for Your Practice
Managing a physical therapy practice can be incredibly time-consuming.
Filing claims with numerous insurance companies, keeping up to date with filing requirements, and keeping track of billing statements can be draining on your staff.
If you’re reading this article, you probably haven’t updated your billing software for physical therapy in a while.
If this is the case, or if your software is not as advanced as it could be, you might benefit from reviewing your current software plan and considering an upgrade.
An automatic documentation software can save you lots of money and time. Your staff will also appreciate the lack of frustration associated with the process.
Follow along to learn more about why you should update your billing software.
Personalize Your Practice
This solution was designed with all the necessary requirements needed to have a successful physical therapy practice in mind.
It incorporates information about state and regional laws so you can make sure you’re following them throughout the years. If your current software does not have these two features, it’s probably time to change it. Keeping in accordance with national laws will help you avoid claims and lawsuits filed against you.
Easily Handle Insurance Claims
Dealing with insurance claims is so much easier with a new billing software.
It allows you to pay your claim faster while maintaining a lower rejection rate than normal, and also makes the tedious task of keeping up to date with current and past filing claims much simpler.
The billing software for physical therapy is designed to help you track billable amounts and allows you to post e-payments. This way, you’ll no longer have to sift through thousands of records, read up on multiple insurance policies at a time, and manually send out bills.
The efficient nature of this new process makes it incredibly appealing for healthcare professionals. Since all the information you put in goes into one central database, you’ll never need to input patient information more than once.
You’ll be able to alter information if it was entered incorrectly, but all the information you place within the software stays there forever. You won’t have to worry about losing your records ever again!
After reading the previous point, you might be scared that your patient records could be breached.
However, billing software for physical therapy is very secure. A patient’s sensitive information cannot be accessed from outside your practice. If your current form of billing is not secure, you shouldn’t even doubt switching.
Losing your most loyal customers due to a breach of data can be catastrophic. Avoiding the situation altogether will put you and your patients’ minds at ease.
An incredible feature of billing software for physical therapy is its automated mistake detection.
The software has the necessary intelligence capabilities to recognize when someone on your staff has made a mistake. It is also programmed to correct them directly.
Most of the time, you or another member of your staff will not even realize that a mistake was made since the software does everything for you efficiently and quietly.
A slow, unresponsive system is a huge red flag.
If your electronic record and billing system is constantly causing failed claims and hosts a ton of errors, it’s definitely time to switch. Having outdated systems will put in question your abilities as a physical therapist and the quality of your services.
Patients are more likely to trust you if you employ the latest technology in your services. You don’t want your financial viability questioned, so switch now!
Boost Staff Morale
Having an efficient software solution can do tremendous things for your staff. They will no longer dread doing the tedious, repetitive work they’re used to doing.
Instead, the automated software will take care of those functions automatically.
The work your staff will be doing will be ten times more enjoyable and a million times less frustrating. Your practice’s efficiency as a whole will increase dramatically as you all procrastinate less.
When people are given a task they don’t mind or even enjoy doing, they’re more likely to get it done quicker.
Your staff will be more enthusiastic to come to work every day. They will put more of their time and energy into making your patients welcome and comfortable.
A huge part of having a successful physical therapy business is being able to calculate whether or not you’re at a loss for any particular day.
If you cannot calculate your profits at any given time, you’re losing out.
Some practices carry out these calculations by hand, which can be incredibly time consuming and can be messed up by a tiny mistake.
If you’re only working out these calculations at the end of the month, it might be too late to adjust your pricing or hours if you’re not doing so well.
Some practices don’t calculate this at all!
A billing software for physical therapy can take care of this for you in a fraction of the time it takes you or a member of your staff to crunch all the numbers.
It’s basically instantaneous! What more could you want?
Track Your Marketing Campaigns
If one of your employees is going out to the surrounding communities and bringing in more patients to your practice, it’s important to track his or her progress.
Knowing where your new patients are coming from and what marketing strategies got them to your practice can be incredibly helpful for the future. It shows you which strategies work perfectly for your business and which you’d be better off not doing. This can help you figure out whether a strategy is worth investing in or not.
With the new software, you’ll also be able to pull out a full list of patients that have been referred to you by any number of doctors in the last week, month, or year.
Being able to track patient referrals is crucial for a successful physical therapy business.
Now that you’re equipped with all the facts, it’s time you make your decision.
Whether you’d like to implement a new billing software for physical therapy or just want a simple upgrade, do not hesitate to contact us!
With so many benefits, this should be a no brainer. We’d be happy to help you become a more efficient and happy practice!