Are you anxious about insurance claims payment delays? Needless to say, lack of control over your physical therapy claims process also affects your practice cash flow negatively and robs you of any peace of mind.
Ultimately, your business is doomed to die if you cannot track and predict your cash flow easily. And since a stressed out practice owner drives away patients, the growth of your physical therapy practice is further hindered. Without sufficient growth you cannot achieve any long-term profitability.
Of course, you don’t have the time to micromanage each billing aspect. There are just too many failing or rejected claims to address with limited resources. But there is a high price to pay if you fail to follow up on your physical therapy claims: reduced cash flow for your practice.
Maybe you are blaming your untrained staff for the lack of consistent and effective physical therapy billing performance. But without the right tools like effective physical therapy software, no one can adequately keep track and follow up on all underpaid and denied claims. Claims that are not corrected are forgotten and affect the entire practice negatively. In fact, you cannot even evaluate your physical therapy billing performance without tracking your active claims backlog since it helps you determine the percentage of your AR past 120 days.
Nevertheless, managing a physical therapy practice is not all about claims processing, but rather a balancing act of multiple Key Performance Indicators (KPIs). The real challenge lies in prioritizing tasks since urgent but easy problems often delay the handling of more important matters. Seeing the big picture consistently instead of just putting out random fires ultimately determines the quality of your claims workflow management and physical therapy billing performance.
But without a centralized organization of tasks and performance it is virtually impossible to keep your eyes on the big picture. As a result, choosing the right physical therapy software functionality is vital for accomplishing this goal.
Naturally, the best physical therapy software is useless if you cannot configure it for your unique practice workflow. That’s why you should choose a system that provides adequate support in terms of customization and configuration.
At the end of the day every PT just wants to focus on treating patients rather than learning new physical therapy software. Hence, ease of use for workflow management is paramount. Equally important is the presentation of all data in an easy to digest way to make a meaningful analysis possible since text presentations of complex data is difficult and boring.
That’s why bestPT uses the Radar as your personal Practice Health Monitor. It displays multiple aspects of your practice at once and every member of your staff can see it on bestPT’s Home page every time they log on. Since the data collection is automated you don’t have to worry about wasting time on looking up your practice stats, including claims status. In fact, your entire practice staff can work as a team and monitor trends with the radar to detect any problem areas before they cripple your practice performance. You can even customize your workflow KPIs so you can track the improvement of your practice performance over time. We also help you see and understand the big picture by providing a daily radar analysis and monthly Health Checks with your SPOC as consistent follow up process.
Contact your SPOC to configure your Radar so you can track your physical therapy claims workflow and reach your practice goals.