What is a closed panel?To see a patient who wants to use their "in-network" benefits, you will need to be an “in-network provider”. This means that you have been credentialed and contracted with the patient's insurance company. When an insurance company feels that they have reached the adequate number of providers for a specialty in the area, they will close that panel and no longer issue contracts for new providers/groups. This can be extremely frustrating for a new business owner.
During our Administrative Power Center (APC) training sessions with rehab private practice owners and their front desk staff I always ask, “How do you answer the phone?”
Surprisingly, I have never had an entire staff, in one or multiple sites, all say the same thing. ‘Hello, thank you for calling APC Physical Therapy how can I help you?’ ; or ‘APC can I help you?’ ; how about – ‘APC Physical Therapy hold please.’; or ‘Hi, APC Physical Therapy, we are happy you called, this is Diane, how can I help you today?’; or how about, ‘APC Physical Therapy, if you want to schedule an appointment press 1, if you want to speak to a therapist press 2, if you want to discuss your bill press 3…’
Short, long, name, no name or a recording – what do you want every caller to hear every time they call your office?
Topics: Front Desk
Many healthcare providers are unfamiliar with the credentialing process because they worked in a setting in which it wasn’t required, or their employer handled their enrollment. So, it only makes sense that providers can be intimidated by the amount of work that goes into credentialing when they attempt it for their own practice. We have outlined four ways to streamline credentialing so you can start treating patients as soon as possible.
Over the years I have had the privilege of using or at least viewing over a dozen different Medical billing software systems. Some I liked, and some I did not. Some were general medical software’s and some specific to Rehab Therapy. As good or as bad as I thought a system was, not one of them could actually make more revenue for a company.
Rehab billing is difficult to say the least. There are several pitfalls that you need to watch out for in order to “get paid right the first time”. Here are the top 7 most common mistakes you may be making:
There are many important decisions to make when starting a PT, OT, or SLP private practice. One crucial decision is whether to be in or out-of-network with insurance plans offered to members in the practicing area.
According to a survey conducted by GoBankingRates, 27% of respondents plan to use their 2019 tax returns toward their debt. Our experience as a billing company has proven that tax season is a great opportunity to collect overdue patient balances. While it is recommended to collect all money at the time services are rendered, we realize that isn’t always possible. Use the following 5 tips to increase your patient collections.
These tips will help you, your front desk, and billing department by ensuring the most accurate information is in your system
Checking your patient's insurance benefits BEFORE the patient is seen should be a fundamental part of your practice's administrative process. Otherwise, you run the risk of claims being denied and left unpaid. You don't always have the right to appeal or bill your patient which is why it is so important to know the patient's insurance benefits before treatment begins.
When checking benefits, be sure to ask the right questions. Here at Account Matters, we had our administrative experts come up with the top 5 questions you should be asking every time. We highly recommend sharing this information with your front desk staff to ensure they are receiving the most accurate information possible.
Let's jump right in to the 5 most important questions:
1. "What is the patient's financial responsibility?"
Informing the patient of any co-pays, deductibles or co-insurance upfront will guarantee a better patient experience. Not only will the patient know what is expected from them financially, your front desk staff will also feel more confident when asking for payment at time of service. This decreases the chance of a nagging patient balance and can reduce the number of patient statements that you need to send each month.
Routinely checking benefits can also reduce the amount of refunds to the patient or insurance company due to over-payments.
Topics: Front Desk
I have assessed hundreds of Physical Therapy private practices in my career and I could tell you hundreds of different stories but instead, I am going to tell you about some of the most common stories I hear in just about every practice I have been in.