How many physical therapy fee schedules does your practice use?
What is the right way to handle your physical therapy billing fee schedule(s)? Do you use just one fee schedule or do you create multiple fee schedules for each of your insurance companies?
Some compliance officers that bestPT works with recommend to have a single fee schedule and to write off or adjust wherever necessary, while others advocate separate fee schedules for select payers.
As your physical therapy billing service bestPT allows for either approach. You can choose to have a single fee schedule that applies to all of your patients or get as specific as you would like creating a fee schedule for each insurance company. In our experience with nearly $400 Million insurance payments posted we have seen the need to accommodate both models.
If you are unsure which approach suits your physical therapy practice, then we recommend soliciting opinions from several compliance advisers. Ask them to explain why they recommend one method over the other. Pay attention to their reasoning about both maximizing revenue and minimizing audit risk. Once you make a decision, open a ticket to your SPOC to help you configure your physical therapy billing fee schedules with your physical therapy software to meet your practice needs.
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