Types of Billing Methods for Your PT Clinic

Part of running a successful PT clinic is to constantly strive to find ways to improve your business. One way medical practices can improve is to frequently audit to pinpoint areas that are strong, weak or need improvement. When it comes to billing, an important aspect to consider is whether to use an in-house or outsourced billing method. Whatever your clinics level of experience and expertise, physical therapy billing needs to be taken into serious consideration as it can greatly affect your bottom line.

Most likely, you already have a billing method in place at your clinic, but it's important to be sure that you're using the method that is best for you. Begin by auditing the billing process and see how it can improve. This can include minor tweaks or involve completely switching to a new method. Let's take a look at two physical therapy billing methods.

1. In House

In-house billing utilizes a staff or one key employee that handles all office billing. Physical therapy clinics that implement this method needs to have a billing expert or professional in the office. Without a designated employee to handle all billing, results can be frustrating and result in delayed collections. If your office currently has multiple employees handing your billing along with other duties, consider hiring one person or a team specifically for the billing job.

It's important to note that when using in house billing, physical therapy clinics need to utilize a software platform for administration. Some EMR conveniently come complete with integrated billing software. If you are still using paper, be sure you find billing software that your staff is comfortable using. The best way to assure you are finding software that will work for your company is to test out demos from multiple providers.

2. Outsourced

Outsourced billing is an option for clinics that use another company to handle all claims processing. This option can tend to be slightly more expensive, although every company has their own price point. Typically, outsourced billing costs a percentage of the total monthly collection. Because physical therapy is such a niche market, it's important to find a key contact person with physical therapy experience.

Another important aspect to consider when outsourcing physical therapy billing is whether the company agrees with your own management style. If you enjoy having the freedom to control your daily operations, it may be better to use in house billing. PT clinics can benefit from use billing software and companies tailored to their specific medical practice, instead of a company that claims to handle all medical specialties.

Be sure to thoroughly research your billing options before making a decision. For your company to be successful, it's crucial to use a billing company or hire an expert that truly understands your goals and objectives.