When you entered into the physical therapy field, you might have thought about how you were going to help people, not how you were going to charge them. However, running a practice requires that you think about how you are going to successfully manage payments and what that means in terms of software and client information. If you are new to billing customers or you want to change the way you do it, then knowing your options can be an important part of determining how you want to go about it.
Medicare has made changes
The first thing both old and new physical therapy practices need to know is that Medicare has proposed new rules when it comes to billing and reimbursement. This can change the way you were planning on billing your patients and how you might have been reimbursed by the government for your services. While we won’t know how this will directly affect practices until the end of the year, it can cause some confusion when it comes to billing.
You will need documentation
According to this proposed change, you will need to have more documentation than in the past in order to submit for reimbursement for Medicare patients. You will need to know the codes associated with each patient you have and be able to provide a short description of the services provided. You might also need to share how much time you spent working with the patient and what type of service you provided. It is still unsure whether or not this will be passed, but it is worth it to be prepared in advance in case the changes happens.
You might be spending more time on billing
When it comes to comes to , you will probably be spending more of your time than you would with other patients. Because this might take up a considerable amount of your energy, it’s worth looking into solutions that can help you to save time and adhere to any protocol. Whether this means having an accountant who specializes in medical billing or double checking your records, you can save yourself having someone questioning your billing processes in the future.
Choose a quality software
In many cases, a software that is designed to work for this type of billing can solve a lot of problems and confusion. Again, while the proposed changes have not been passed yet, you can prepare by setting up a comprehensive billing software that breaks things down for you and makes it simple to submit. Not only are you likely to be reimbursed faster, but you also don’t have to worry about any legal implications, as well.
Whether you are a new practice looking to understand the or you are adjusting to changes, knowing billing practices can save you time, money, and personal energy. Make sure you have systems in place that can help you comply with the new changes.