Did you know that administrative tasks like billing account for up to 30% of the health care costs in America?
Health care billing uses a standardized system of codes from the World Health Organization to ensure that the proper owed amount is told to the patient and/or insurance, and that the payment is correctly processed. But that can leave a lot of room for error if done manually. Errors cost money that affects your profit. That’s where billing services can help.
If you’re ready to use a physical therapy billing service to save some money, here are some options you can try.
Why should you use a physical therapy billing service?
You can’t make a profit without billing, but it can be a stressful and time-consuming task. Billing is a task that can be automated, which can be a long-term money and time-saving solution. A billing service will reduce the time it takes to process the charge as well as increase accuracy the first time that the charge is run. This means reducing labor costs and preventing costly mistakes.
Top 4 physical therapy billing services to reduce your costs
When you’re ready to reduce your costs, there’s a variety of physical therapy billing services that you can consider. It’s important to weigh your options to find the service that works best for your practice’s size and patient base.
Here are four physical therapy billing services to explore, as well as a couple of their standout qualities:
- Alliance — We not only help to make sure that your billing is done efficiently, but we also ensure that it’s compliant with federal and state laws. Our services even help with HIPAA compliance.
- athenaCollector — Billing is a part of athenahealth, which provides a cloud-based suite of services for health care. The solution suite was named no. 1 in multiple categories in the 2023 Best in KLAS Report. Their billing solution, athenaCollector, reports a 94% resolve rate for first-pass claims.
- Kareo Billing — There are many benefits to using Kareo as a billing service, especially its assistance with insurance billing. It manages complications that can stem from insurance payments and can get immediate verification for a patient’s claim.
- RXNT — This cloud-based software is certified by the Office of the National Coordinator for Health Information Technology. It features multiple free benefits, including data transfer and in-house support.
Alliance can help with billing compliance
At Alliance, we can ensure that your patient billing is compliant with federal and state laws. That means you have one less thing to worry about, and you can focus on growing your business.
Contact our team today for more information about how we can help your practice or to find out how you can join our partnership in care.