As you approach the end of summer and review the performance of your private practice, does your billing and collections show that you’re having your “Best Year Yet?”
Luckily, improving billing services for physical therapy is easily solved by having a full-time specialist onboard doing the heavy lifting — or, conversely, bringing in the experts to remove the burden from your team and ensure no collections slip through the cracks.
Either way, this doesn’t happen without dedicated experts on the task.
–FYI: Those very same experts at MEG are currently offering an exclusive one-hour consultation with private practitioners to assess their current billing setup, evaluate options, tools and talent and finally, to provide actionable next steps for collecting more revenue from your patients. The call includes some powerful, free resources, so don’t miss out!—
So, if the goal is to increase revenue by staying on top of collections and accounts receivable, then it will take a concerted effort and investment of time and resources from leadership to bring this solution to life. The two most common ways to approach this need, as previously mentioned, is to hire or outsource.
We’ve compiled a comparison of different billing options for your physical therapy practice.This comparison reviews in-house billing vs. outsourced billing, and then compares MEG Business Billing specifically, as we are a PT-specialist billing provider first and foremost.
There are great billing service providers for physical therapy, and outsourcing your billing and collections is often the right move for small or growing practices. Whoever is at the helm, your billing team must be held accountable to ensure they are consistently delivering on their service level agreement to get results. This means actively measuring their output.
We recommend using these tactics to measure results:
- An Accounts Receivable Report
- The 15 Percent Rule
- Making Collection Calls
- Balanced Billing at the Front Desk
Learn more about the 4 metrics to measure your physical therapy billing department.
In the end, improving your physical therapy billing and having your best year yet can net some very positive results for the clinic, including:
- Production never stops, even if staff is sick or on vacation
- You get paid faster with efficient processes and quicker turnaround times
- Stress is transformed into focus by leaving the billing in capable hands
- ROI replaces overhead by avoiding salary, benefits, PTO, training, etc.
- MOST IMPORTANTLY: Keep your patients happy with a reliable system!
Check out more information on these benefits of outsourced billing for physical therapy.
MEG Business is proud to work with the top 10% of private practices in the USA who aren’t slowed down by billing and collections because they leave it to the experts.
If you’re committed to having your best year yet as a physical therapy owner, we encourage you to take the first step and claim our exclusive free coaching call with a billing specialist. This one-on-one call will put you on the path to reaching your ideal scene before the end of 2021.
Here’s what Logan Cooper, CEO of Orthopedic Manual Therapy Specialists from Maryland had to say about adding MEG Billing Services to his private practice: “The MEG team has been amazing! The billing and collections department literally saved my clinic’s life!”
We look forward to serving you and your private practice. Learn more about MEG’s billing services and hear from physical therapy owners who trust us to remove their billing burden.