Read Our Latest News, Tip And Views Of The Medical Billing Industry.
It’s almost the end of the year. Are the goals for your practice achieved? If not, maybe it’s time to go back to basics and plan out what went wrong and how to move forward. Whether you’re trying to set goals for a new year or trying to catch up this
Medical billing is really a central pillar of any health care practice.
Medical Coding or Medical Billing — sometimes, these two terms are mixed or interpreted as one, but in reality, they are two completely different tasks.
A medical clinic won’t be complete without the medical billers. If compared to a machinery, they serve as oil to keep the operations going. Their main task is to ensure billing is done properly and all the medical codes are precise and accurate to ensure their patients are reimbursed properly.
Nobody wants denied claims. It adds up more of your time and resources to sort everything out and most importantly, slows down your cash flow. One or two erroneous claims maybe few for now but these may add up pretty quickly — and before you know it, a large issue
You’re losing lots of money on your practice and you don’t even know it.
How could you not be aware of thousands of dollars being lost, you say? Surely that kind of money can’t just disappear without you knowing.
The answer: bad habits. Bad coding and billing habits to be exact. A lot of physical therapists fall victim to these habits without their knowledge, and it’s not totally their fault. Most of them have been misinformed or got used to a certain system that they didn’t know has long been outdated.
It’s time to break those bad habits and get your practice the profits it deserves!
Habit 1: Forgetting Assessment and Management Time
There are several components that make up your service time: patient assessment and preparation (Pre-Time), performing the procedure (Intra-Time), and lastly, documentation and discharge (Post-Time). One financially deadly habit that PTs make is forgetting to include all of these components into their assessment and management time.
