For many years, data reveals that outsourcing your accounts receivable continues to be popular at many levels and should be a consideration by practice owners. A practices ability to bill correctly and collect for services provided separates successful practices from others. Outsourcing is a valuable resource for practice owners – provided you out-source to the right company.
Billing for physical/occupational therapy is not the same as billing for physicians or other healthcare providers. PT and OT billing has many significant guidelines that pertains to that profession exclusively. The complexity of billing for PT/OT continues to increase and this makes it more difficult to train and retain staff with the expertise needed to be change ready at all times.
It is also difficult to find a billing company that serves the PT/OT population exclusively. Most billing companies cater to physician billing and take on PT/OT businesses as clients without truly understanding all of the compliance issues and insurance guidelines to ensure maximum payments for services provided.
Outsourcing your PT/OT billing would reduce staff and benefits costs by about 25%. Other savings to the business owner is lower cost for office supplies – forms, postage, statements. A PT/OT billing company can offer many types of services: entering/reviewing patient charges, processing claims, reviewing ERA reports, posting payments and running reports to assist owners in managing their practice effectively and efficiently. Additionally, a billing company must provide collections on all claims and patients to maintain an acceptable accounts receivable level.
What else does out-sourcing do for you? It gives you more time to concentrate on building your business. Opening up options for you to act on knowing what your company’s financial status brings peace of mind. That is what we want for you, peace of mind and to hold us accountable for the work we do, because your Account Matters to us.
Account Matters is a full service, PT/OT billing and collections company. We do not bill for any other healthcare providers. Our fees range from 3% to 8% depending on the scope of the agreement and are based on the revenue received each month.
Contact us at 508-422-0233.
Diane McCutcheon, President
DM Business Management Consulting Services, Inc.
Account Matters – Billing & Collection Services
4 Charlesview Road, Suite 4
Hopedale, MA 01747
P: 508-422-0231 F: 508-422-0234