While the main goal of physical therapy clinics is to provide care for their patients, clinics also have a significant business side to balance. Revenue keeps clinics open, allows them to expand their staff and facilities, and increases care options. One way to help balance the healthcare and business sides of clinic operations is outsourcing physical therapy billing services to a specialized company. Here are some of the ways that outsourcing billing services can improve a clinic’s workflow:
Reduced Administrative Burden
Billing and administrative tasks can be time-consuming and take focus away from patient care. The process can also be complicated and confusing, particularly for staff trained primarily in physical therapy. Clinic administrators already have to manage busy appointment schedules, treatment plans, and follow-ups, making billing processes an increased burden.
By outsourcing the task to physical therapy billing services, clinic staff can spend more time focusing on providing quality care to patients. This may help reduce responsibilities and related stress among staff and help improve their workflow. Those benefits may translate to quality care and improved patient satisfaction.
Improved Regulatory Compliance
Billing services employ teams of experts who are trained in the latest regulations and coding guidelines. Updating clinic staff on code or regulation changes can reduce time spent on key healthcare tasks. When codes are updated or changed, billing services can adapt quickly to maintain compliance because they fill that one role.
By outsourcing billing tasks, clinics can be confident that claims are submitted in compliance with regulations and guidelines. Billing service companies can help reduce the risk of audits or penalties for non-compliance. Clinics can also save the time that would otherwise be spent training staff on regulatory changes, further improving workflow.
Access to Specialized Expertise
Because billing services fill a singular role in the clinical process, they can become highly specialized in that role. Billing companies have staff trained in specific billing and coding areas, such as Medicare or workers’ compensation. Clinics can benefit from this expertise to help navigate complex billing situations without sparing in-house resources. Professional billing services can also provide clinics with access to proprietary tools that help simplify billing and record-keeping.
Improved Technology and Software
Billing services can also provide clinics with access to proprietary tools that help simplify billing and record-keeping. Billing companies often have access to the latest technology and software for billing and coding and are trained in its use.
These tools are designed to help companies and their client clinics streamline their billing processes and minimize errors. Clinics can benefit from this technology without having to invest in expensive software, equipment, or related training by outsourcing billing services.
Outsourcing billing services can be more cost-effective than hiring and training additional staff for billing tasks. This can allow clinics to redirect money for salaries and benefits to their healthcare providers. The greater the growth of your clinic and its volume of patients, the higher the benefit may be in savings. Billing companies can also offer services that help clinics identify areas where they can reduce costs or improve efficiency.
Billing services can help clinics boost their revenue by improving billing efficiency. Clinics can lose money due to incorrect coding, missed charges, or claims that aren’t correctly submitted. Services that specialize in the billing process can help catch these errors so that clinics receive all the incoming revenue that they are due.
Workflow improvements that allow staff to give better quality care can also generate patient referrals and improve your clinic’s reputation. With an increased number of patients comes the potential for further revenue growth. Revenue increases can then be channeled toward improving other workflow areas and general improvement of the clinic.
Refine Your Workflow With Physical Therapy Billing Services
While it can be a challenge to balance the healthcare and business aspects of your physical therapy clinic, it does not need to impact your workflow. Outsourcing physical therapy billing services can potentially improve your clinic’s workflow in all these ways and more. The growth of the physical therapy industry has allowed a variety of physical therapy billing services to emerge. Explore options for your clinic today. You can compare services to find ones that suit your practice’s needs and budget.