Posts

George Konold

Physical Therapy Software | New Network Members in March 2014

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Physical Therapy Software_new-network-members

Sixteen new members across five practices joined bestPT in March. Each member benefits from and contributes to the size of bestPT’s network as we use the shared knowledge in the battle against the payers.

This proverbial strength in numbers helps you build your dream practice using our physical therapy practice management software, billing, and profitability coaching services.

Let’s welcome bestPT’s newest members:

  1. Ana Aparcicio and Olivia Shook of Big Sky Pediatric Therapy North Star Llc, Round Rock, TX.
  2. Georgianna Martinez of Elite Orthosport Physical Therapy, Los Angeles, CA.
  3. Molly Moore of Kalispell Rehab. Assoc Dba Professional Therapy Assoc., Kalispell, MT.
  4. Britta Eden, Jennifer Mason, Mary Brittany Young, Melissa Tabor, Kelly Ellis, Kathy Lord, Elizabeth Trimble, Ashely Whitaker, Carla Clevenger, Deborah Wenger, and Racheal Jessee, all of On The Move Pediatrics Therapy, Pllc, Lexington, KY.
  5. Leah Tompkins, of Physical Therapy Consultants, LLC, Bettendorf, IA.
George Konold

Physical Therapy Software | New Network Members in February 2014

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Physical Therapy Software_new-network-members

Ten new members across six practices joined bestPT in February. Each member benefits from the size of bestPT’s network as we use the shared knowledge in the battle against the payers. This proverbial strength in numbers helps you build your dream practice using our physical therapy practice management software, billing, and profitability coaching services.

Let’s welcome bestPT’s newest members:

  1. Angela Craig of Bassett Physical Therapy, Stanleytown, VA.
  2. Holly Mouton and Debbie Allen of Big Sky Pediatric Therapy North Star Llc, Round Rock, TX.
  3. Kaitlyn Wise and Manda Brittsan of Bit-By-Bit, Inc., Fort Lauderdale, FL.
  4. Denny Wongosari, Samantha Wright and Danielle Jenna of Isu Physical Therapy & Sports Rehabilitation Clinic, Terre Haute, IN.
  5. Paul Deforrest of Pts Dover, Dover, DE.
  6. Aura Rivas of Tim Soder Physical Therapy, Llc, Las Vegas, NV.
George Konold

How to control your physical therapy practice's cash flow

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physical therapy billing performance softwareAre you stressed out over unpredictable cash flow of your physical therapy practice?  Do cash flow fluctuations keep your practice from reaching its full potential? Lack of control over your billing performance can seriously threaten the growth of your practice. Needless to say, without growth your practice will struggle to survive.

To make matters worse, anxiety over physical therapy billing issues can rob a practice owner of confidence and peace of mind needed for building his dream practice. This in turn affects his relationship with patients negatively and further impedes practice growth.

Since the chances of ever getting your claims paid decrease with each passing day, the percentage of accounts receivable after 120 days can be used as a proxy of your billing performance. Obviously, it is impossible to predict when and how much the insurance will pay you. Hence, the key to taking control of your practice’s billing performance lies in knowing exactly which claims are underpaid or even unpaid. Rigorous follow up on the claims in trouble can help you reduce the percentage of your monthly AR past 120 days to ten percent or less.

Improving your practice’s cash flow is not all doom and gloom, though. A good first step consists of discovering your practice’s true cash flow and billing potential. What are your current physical therapy billing stats? Are you aware of any weaknesses in your practice’s billing process?

Next, you should take a look how your physical therapy practice compares to others in the industry. Those numbers may be hard to come by, but bestPT has done the legwork for you and can help you evaluate your stats against the national averages and then help you get above those. You will get the opportunity to compare your Key Performance Indicators (KPIs) to industry standards as well as bestPT performance stats.  

Just how much could your practice grow with this improved physical therapy billing performance? Can the potential increase in collections pave the way for accomplishing your goal of building your physical therapy dream practice?

There is only one way to find out — request your Individual Practice Evaluation from bestPT. We will help you discover your practice’s cash flow and billing potential.