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KEY HABITS FOR SUCCESS IN 2017

What are the habits that a physical therapist needs to accelerate their progress towards success? Working with some of the most successful clinic owners in the country, and by identifying what they want to achieve, Erika Trimble has identified what the 10 key successful habits are for clinic owners who want to live their professional dreams.

To read more, click here: Success Habits of Business Owners in 2017

The Five Best Investments You Can Make In Your Business This Year

As we start the new year, we’re all looking for ways to continue to grow and develop our business.  How well were you goals from last year achieved?  And when setting goals for this year, will your goals cost you or will it pay in the long term?

Here are five investments that clinics working with coach Erika Trimble are planning to make in their practice this year:

Happy business in the new year.

How to Prepare for a Happy Business New Year

Prepare for a Happy Business in the New Year

In this current competitive atmosphere, what are the five things you should do to prepare your business for the New Year? Complacency undermines the success of your practice, follow these steps to avoid slowing down your business and to prevent your competition from profiting from your inaction.

Click here, Erika Trimble explains what five things you can do to avoid slowing down your practice’s growth and driving your patients to the competition.

Your graph will go up when you use bestPTbilling software

Why isn’t your practice still growing?

Have you wondered why your physical practice seems to have stayed roughly the same size for the past few years?  With only modest fluctuations, you have about the same number of clinician days, active patients, and the same turn over now as you did before.   And yet, it wasn’t that long ago, it seemed as though your practice was growing effortless, year over year.
 
It’s much easier to grow when there are fewer practices competing in your area.  There are more clinics now and the competition is likely going to become more intense in the years to come.  Despite this, there are practices that continue to see low attrition and strong growth.  How do they do it?
Modern Manual Therapy

Q&A: Am I Just a Mechanic?

physical therapy billing serices

Q&A: Am I Just a Mechanic?

Modern Manual Therapy’s Website has a post on it that asks if the Physical Therapist is just a mechanic that turns off the check engine light.  Here’s an excerpt from their website…

“We all can make patients better rapidly. In fact, a majority of patients walking into your clinic will be mentally and physically ready to change. However, if you can’t get your patients to buy in, or keep up with their homework, are you just a mechanic who turns the check engine light off?” 

Click the photo below to go to their website to see the answer on video.

Modern Manual Therapy

 

3 Steps to Losing a Referring Physician

A physician usually has a very good reason when they stop referring patients. A recent survey found that most physicians do NOT fully read their therapist reports. Communication, clarity, and customer feedback are critical components when it comes to maintaining your relationship with referring physicians. Erika hopes to help you avoid this possibility all together by discussing the three reasons why your reports aren’t being read:

3 STeps to Losing a Referring Physician

Join Us at the 2016 PPS Conference

Join us in the Wynn Hotel in Las Vegas at the 2016 PPS Conference!

See us in Las VegasWe’re proud to be a part of this great annual PPS conference again this year.   We’ll be in booth #231 near the PPS Membership and Voting table in the Exhibition Hall, September 20-21st.

It’s always a highlight of the PPS conference for us to meet so many of you, from all over the country, in person.  We look forward to seeing those familiar faces as well as the newer members of our community this year.

what-strategies-and-tactics-are-working/

What Strategies and Tactics are Working For Innovative Practice Owners

Being a practice owner is a difficult and lonely task.  It’s difficult to know what your competition is doing, and even if you were to ask, they’ll generally only offer guarded responses or exaggerate their successes.   Erika Trimble, renowned business coach, offers a list of what strategies and tactics are being used by the most successful and innovative practice owners, and which ones are working for physical therapists.

Read more here:

The Movers and Shakers in the Physical Therapy World: What Strategies and Tactics are Working

Top 10 PT CPT codes

Physical Therapy CPT Code Analysis for 2015

Top 10 PT CPT codesThe U.S spends more on Healthcare than other countries. Does spending more per capita result in better outcomes?

We currently work off (FFS) Fee for service plans. The problem with this method of reimbursement, providers are not be held accountable.

What’s next in the future of Healthcare? Introducing Pay-for-Performance.

  • New commercial payer contracts with alternative payment methods based on performance to be in place by 2020.
  • CMS moving to ‘value-based’ or ‘quality based’ reimbursement
  • Medicare to have 55% of fee-for-service payments shifted to quality based payments by the end of 2016 through pay for performance (P4P)

Based on the new rules, your practice may experience a change in coding to meet new performance guidelines.  Will the trends in 2017 change where we see an increase in re-evals (97002) or Self Care Management Training (97035)? As the CMS and the private payers work on their ‘New’ pay structures it’s a good idea to monitor your yearly trends and monitor outcomes early.

225 different CPT codes were reported in 2015 for Physical Therapist, yet, the top 10 CPT codes constitute 90% of all reporting. While we noticed a slight reduction in use for 97110 and 97140, other codes e.g. 97530 slightly increased. The increase of the use of 97530 is due to a better understanding of how to use and when to use this code.

Top 10 physical therapy CPT codes

These are the top 10 PT CPT codes

The 10 most paying CPT codes generated over 96% of all pay in 2015!

Compare the top 10 CPT codes for Physical Therapists.

bestPTbilling.com top 10 PT CPT codes

We see high similarity to previous years trend with some reduction for 97110 and some increase for 97530.

CPT 97110 was reported in most of the visits (28.9%) and generates the most of the pay (33.9%) – pay to claims ratio 117%. CPT 97113 was reported only in 0.2% of the visits, yet generated 0.7% of the pay – pay to claims ratio 326%. On the other hand, CPT G0283 was reported in 2.9% of the visits, yet generated only 0.9% of the pay – pay to claims ratio 29%

Top 10 CPT codes for PTs.

The average CPT collections per unit was $22.51 in 2015, which is 3% less than 2013 average pay.

Paid per unit CPT codes

Most of the CPT pay in 2015 is lower than previous years by almost 3%, the few exceptions are lead by 97113 Aquatic Exercises which is almost 9% higher.

CPT code reimbursement change from 2014 to 2015.

Dollar value of PT CPT codes.

Pay per unit for the top 10 CPT codes for physical therapists.

Physical Therapy is one of the hardest and less appreciated professions and we do see only the most dedicated providers surviving. This is why we do our utmost to get the money you deserve – so that you can stay open and keep on helping people.

 

 

metrics for physical therapists

Top 10 Metrics You Should Track

What Metrics Should You Track in Your Practice?

Our clients have determined that these are the most important metrics to track in your practice:

  • Collections
  • Patients Visits
  • Charges
  • New Patients
  • No Shows
  • No Future Appointments
  • Accounts Receivable
  • Unbilled Visits
  • Unsigned Notes
  • Claims needing to be corrected by the Practice

They’re all related to each other and they all affect each other.  These Key Performance Indicators (KPIs) must be measured to know the health of your Practice.  Some practices want to track other metrics and that’s easily changed within our PT billing software.  Which ones do you track?  Do you even care about these numbers?

How do you track these metrics? Do you have a tool to monitor them with a simple glance at a chart? The tools to track these numbers are built into our PT billing software and your Practice Success Coach will help you to understand the metrics and their relationships to the other metrics. Your Coach will help you set-up a Practice Health Monitor and that’s where you can see these numbers at a glance at a radar chart.

Other tools are available in our software as well.  Learn more with the free webinar that can be viewed right on this page.