4 Ways A Billing Service Can Benefit Your Therapy Office

Finance & Money Blog

If you run a therapy office, you have enough to handle taking care of patient's needs. You don't need to be worrying about the billing for your clients, which can be a time-consuming task that takes away from the primary tasks that you have to focus on. A billing service for therapists can offer many different services and assistance to your practice. 

Verify Patient Benefits 

When you get a new patient, you can send their information to your billing service, and they will go through the necessary steps to verify your new patient's insurance. If you have a patient whose insurance changes, they can also verify their new insurance policy. They will let you know if the insurance will cover your services, and if there are any coverage limits. For example, the insurance may only cover a certain number of visits per year. Knowing this information can help you serve your patients more effectively.  

Submit Accurate Claims 

The process of filing a claim with an insurance company is not as straightforward as it should be. Every insurance company seems to have a different process for filing an insurance claim. A billing service will take care of each insurance claim and make sure the claim is accurately processed correctly the first time, according to the rules and regulations of that insurance company.   

By submitting accurate claims, a professional billing service will be able to reduce the number of claims that are rejected or that are not fully paid out. A professional billing service will help increase how many insurance claims are accepted the first time. 

Pursue Payment From Insurance Companies 

Some insurance companies like to give you the run-around when it comes to paying you. Even after accepting the insurance claim, you can't count on insurance companies to actually pay you. A billing company will pursue insurance companies and make sure that they pay you in a timely manner. You will no longer have to spend time calling insurance companies, asking them to pay on their accepted claims. 

Better Control Over Receivables 

Finally, a billing service will help provide you with better control over receivables. They will help make sure that insurance companies and individual patients are paying you in a timely manner, and when necessary, they will track down payments for you. Your receivables should increase, and you should get paid more often,and more accurately for the work that you do, which will help your practice succeed.  

When it comes to running a therapy practice, investing in a billing service is a smart idea. They can take care of working with insurance companies and pursuing payment for your services, thus helping your business stay afloat.  


9 October 2019

Budgeting For Real Life

As I see it, one problem with most budgeting programs is that they don't account for the "real life" factor. Anyone can tell you not to spend anything and to save everything, but when it comes to feeding your kids or dealing with a medical emergency, most budgets get thrown out the window. I realized that this was a problem, so I decided to start focusing on budgeting for real life. I decided to forget everything that I knew about budgeting and started working with a clean slate. This blog is all about budgeting for real life and knowing how to spend your money the smart way.