See more patients. That's always what people suggest, right? While it's a solid strategy, you're probably too busy with patient care as it is, not to mention billing, marketing and whatever side hustle you are trying to bring in more cash business. These might be better strategies:
1. Specialize Services
2. Optimize Insurance Reimbursement
- Code Correctly: Many Physical Therapy clinics make the mistake billing 1 or 2 units when more services were provided. Use the 8 Minute Rule to bill the maximum units per session. Defaulting to generic codes with lower reimbursements or not using evaluation codes properly can also be a problem.
- Don't Accept PPO or Retroactive Discounts on Workers' Comp or Auto Claims: Physical Therapist clinics leave money on the table because they accept cuts to their payments, even when a contract is in place. It makes sense to send those claims to BOOST for processing. Nationally, clinics get $53 more per visit on average when the claims go through BOOST. It can partner with your billing so you don't have to change systems or spend extra admin time.
- Maximize Reimbursements: Research payer policies, get pre-approvals and appeal denied claims consistently. You can also partner with a billing team, do monthly audits and set clear KPIs.
3. Reduce cancellations and No-Shows
BOOST My Claims
BOOST tackles declining insurance reimbursements for workers' comp and auto claims head-on. You’ll get higher reimbursements without overhauling your existing systems. Boost seamlessly integrates into your current operations. You won’t have to change your billing system or EMR. You'll never have to alter your treatment practices.