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ICD-10 for physical therapists

Are You Ready for ICD-10? We Are!

 What are you doing for ICD-10?

Is your Physical Therapy practice Ready for ICD-10?

Our bestPT software was ready last year and our Team has made further refinements this year, including testing it thoroughly.  We do not expect the October 1, 2015 deadline to be pushed again like it was last year. We have prepared for it by adding over 65,000 codes to our software and when you choose an ICD-9 code, you’ll be able to choose from the corresponding ICD-10 codes.  We even give you the ability to test everything with a test patient account.  Check with your Practice Profitability Coach for more details.  Not our client yet? Then click in the upper right or the bottom left for a demonstration.

 

 

Physical Therapy Claims Processing | Most-paid CPT codes

You can increase your profitability by analyzing which physical therapy billing codes result in the most paid claims each month and then set new monthly practice management goals that include the frequent use of these. For example, we took a look at bestPT numbers from 2012 and discovered that only 180 CPT codes were used by our physical therapy billing clients. Even more surprisingly, only a few of those actually resulted in payments from insurance companies. In other words– it might make sense to focus on implementing the patient treatments that do get you paid at the end of the day.

10 CPT codes were reported in 89.9% of the claims and 92.4% of all reported units:

 

 

% of Claim

% of Units

97110

Therapeutic exercises

30.1%

38.1%

97140

Manual Therapy (ie. STM, JM)

22.9%

21.7%

97530

Therapeutic Activities

7.9%

12.0%

97112

Neuromuscular Re-education

6.9%

6.2%

97010

Hot or cold packs

5.1%

3.3%

97014

Electrical stimulation

4.6%

2.9%

97035

Ultrasound

4.2%

2.8%

G0283

Electrical Stimulation (Unattended)

3.2%

2.0%

97001

Physical Therapy Evaluation (1st Appointment only)

2.8%

1.8%

97032

Application of a modality to one or more areas

2.2%

1.4%

 

 

89.9%

92.4%

physical therapy billing_most paid codes

Top 10 most paid CPT codes generated 92.2% of all collections:

 

 

% Paid

97110

Therapeutic exercises

37.4%

97140

Manual Therapy (ie. STM, JM)

21.6%

97530

Therapeutic Activities

13.9%

97112

Neuromuscular Re-education

7.4%

97001

Physical Therapy Evaluation (1st Appointment only)

5.4%

92507

Treatment of speech

1.7%

97014

Electrical stimulation

1.4%

97035

Ultrasound

1.3%

97032

Application of a modality to one or more areas

1.1%

97113

Therapeutic procedure

1.0%

 

 

92.2%

physical therapy billing_most paid codes

It might surprise you that code 97010 (Hot or cold packs) was used in 5.1 percent of all claims, but generated only 0.5 percent of all collections. In stark contrast, the code 97001 (Physical Therapy Evaluation) was used in only 2.8 percent of all claims, but generated a whopping 5.4 percent of all collections.

The average collections of the  top 10 most paid CPT codes amounted to $23.53 per unit although codes 97014 (Electrical stimulation) and 97035 (Ultrasound) generated only of $9.25 and $9.36 respectively. On the high end of the spectrum codes 97001 (Physical Therapy Evaluation) and 92507 (Treatment of speech) generated $58.96 and $66.51 respectively.

physical therapy billing_most paid codes 3

As you can see, frequent use of code 97001 is not only resulting higher payments, but even more importantly it indicates healthy practice growth with lots of new patients! In addition, the use of code 97002 shows that referring doctors are trusting you with their patients by prescribing “evaluate and treat” which basically means that you have earned their trust!

physical therapy billing_most paid codes 4

Physical Therapy Billing | most used CPT codes 2012

Readers have asked us to add “by specialty” analysis, hence we looked at PT (065) OT (067) and SLP (235Z00000X). Naturally there is way more resemblance between PT and OT than with SLP.

physical therapy billing most used codes 3

Very few CPT codes are responsible for the majority of the “action”:

physical therapy billing most used codes 4

9 CPT codes were used in 87% of all PT claims,  8 CPT codes were used in 90% of all PT units and generated 93% of all PT payments.

physical therapy billing most used codes

9 CPT codes were used in 76% of all OT claims,  8 CPT codes were used in 84% of all OT units and generated 88% of all OT payments.

physical therapy billing most used codes

6 CPT codes were used in 93% of all SLP claims,  5 CPT codes were used in 93% of all SLP units and generated 97% of all SLP payments.

physical therapy billing most used codes 2

2012 L codes (DME braces) analysis is coming soon.