Occupational Therapy is a vital and versatile field of healthcare that touches the lives of people of all ages, empowering them to overcome a wide range of challenges, from physical limitations and emotional hurdles to developmental issues. The core mission of Occupational Therapy is to enhance the daily functioning and overall quality of life for individuals in need.Yet, amid this noble pursuit, there is a complex and often daunting aspect that both practitioners and patients must navigate: the intricate world of Occupational Therapy Billing and Reimbursement.
This article delves into the billing challenges of Occupational Therapy Billing, shedding light on the essential practices and insights that can make the financial aspect of this Occupational Therapy Billing more transparent and manageable. We will provide a comprehensive guide to demystify the intricacies of Occupational Therapy Billing, helping professionals and patients alike embark on a journey toward financial clarity and peace of mind.
Understanding Occupational Therapy Billing
Occupational Therapy Billing refers to the method of submitting and receiving payment for the services provided by Occupational Therapists. It involves insurance policies, documentation requirements, billing codes, and reimbursement strategies. Moreover, to navigate Occupational Therapy Billing, it is crucial to have a clear insight into the various aspects involved.
This includes insurance policies and coverage, familiarizing oneself with common billing codes, ensuring proper documentation, and staying up to date with the latest changes in Occupational Therapy Billing practices.
Poor Occupational Therapy Billing Services are Costing You Money
Your Occupational Therapy Clinic might be managing billing in-house, through outsourced billing services, or through a bolt-on to your Electronic Medical Records (EMR) software. Poor Occupational Therapy Billing Services are not only difficult to manage, but they’re often a financial loss, too. Costs can accumulate through the following:
Unpaid Reimbursement Claims:
If your Occupational Therapy Billing Services aren’t done right, you likely won’t be paid for all that you’re owed. We’ve seen clinics that are losing as much as 50% of their revenue to billing problems.
Sprawling Staff Hours:
I Managing Occupational Therapy Billing in-house, you’ll be paying to double-check billing requirements, submit, correct, and chase. As the clinic grows, you may need to hire again or pay overtime to manage this swelling workload.
Software Costs:
I Many therapy practices are using a range of billing tools for the different processes in their business. They’ll often have an EMR alongside a separate Occupational Therapy Billing tool or an extra software module for the documentation.
How MHRCM Makes Occupational Therapy Billing Services Easy
We created MHRCM after experiencing the challenges of Occupational Therapy Billing first-hand. We will show you how we made the software to help Occupational Therapy Billings, physical therapists, and other therapists reduce the billing costs and get paid for everything they’re owed.
1. MHRCM Brings Occupational Therapy Billing and Documentation Together
One of the biggest errors clinics make is separating their EMR (Electronic Medical Record) and Billing. In fact, Occupational Therapy Billing is often treated as an afterthought because traditional EMRs and outsourced billing services encourage us to think that way. As a result, treating patients, updating records, and issuing plans of care and only then see that the Occupational Therapy CPT Codes are out of scope or that there’s an error in your proposal. Inevitably, that’ll lead to false claims and medical billing denials.
That’s exactly why we built MHRCM with Occupational Therapy Billing services at its core.
With MHRCM, any treatment options and tests conform to payer guidelines before they’re issued. This will have following benefits:
- Barriers to ensuring all treatment given gets reimbursed. For example, if particular insurers define limitations on care, therapists are alerted to this prior to submitting documentation. As a result, all potential issues will be resolved before submitting claims. This is what we call the Occupational Therapy Billing Plan of Care.
- Automatically updated Occupational Therapy CPT Codes saves time in researching CPT (Current Procedural Terminology) Codes or trying to know the most recent rules from Medicare. Instead, you can rely on MHRCM to keep you updated on evaluation Occupational Therapy CPT Codes and rules on billable units.
- A common issue for Occupational Therapists using medical software is that standard documentation templates are often just not appropriate to their needs for Occupational Therapy Billing Services. However, with MHRCM, for this, we use customizable templates to ensure that Occupational Therapy Billing Documentation makes sense for the type of therapy the patient needs.
- This applies to Occupational Therapy CPT Codes, protocols, and modifiers, too. For example, if a patient requires hand rehabilitation treatment, you’ll find all the codes you need in the template. If you need to include new therapeutic exercises, you can add those too.
MHRCM puts Occupational Therapy Billing Services Clinical Documentation to ensure all claims are clean, complete, and accurate.
2. MHRCM Occupational Therapy Billing Services track all unpaid claims
Therapists who partner with MHRCM generally see that 85% of claims are paid within 30 days without being edited, submitted, or chased.
However, for any claims that get denied, we’ll do the smart work to make sure you get paid. MHRCM chases every single unpaid claim, no matter how small. This is how we help our clients achieve a >99% repayment rate.
Here’s more you can expect with MHRCM:
Faster Payments:
With MHRCM, more than 95% of all billings are paid within 60 to 90 days. Keeping in mind that physical therapy practice standards say PTs are doing well if they have less than 25% of claims receivable in 120+ days, that’s big with MHRCM.
Customer Service:
Whatever your query or concern, our MHRCM Customer Service Team responds quickly during business hours.
Smooth Software and Billing Service:
Don’t pay for multiple software, tools, and Occupational Therapy Billing Services to handle the different parts of your practice. With MHRCM, you’ll pay a fixed rate on billings while ensuring your reimbursement rate surpasses 99%.
3. MHRCM ensures visibility over all your finances
While we take care of the bother of chasing unpaid claims, you will want certainty over your practice’s routine. MHRCM Clarity Panel provides exactly that comfort, giving you key data on all aspects of your Occupational Therapy Billing Services.
MHRCM provides Key Billing Metrics and Financial Data. If you want to check your Accounts Receivable, the average bills per visit, or how your Occupational Therapy Billing reimbursements correspond to different therapy types, MHRCM puts all that information at your fingertips.
Financial Datas are collected from insurer, therapists, and patients. Individual therapists are digging into your reimbursement rates for different insurers. You can also see claims made for each patient with a record of every single transaction and treatment. For example, particular Occupational Therapy CPT Codes combination impact reimbursement rates, so you can adjust how your Occupational Therapy Billing Plan of Care is set up for certain healthcare insurers and patients.
Get clarity of Information on other practices like on patient appointment cancellations, marketing campaigns, referrals, patient satisfaction, and more. Using MHRCM, you will have all your critical data in one place to improve Occupational Therapy Billing Services Management and grow your business.
4. Financial clarity for patients
Alongside increasing reimbursement rates, MHRCM also makes it easier for patients to use your Occupational Therapy Billing Services. All patients receive a Personalized Occupational Therapy Billing Portal where they can access all the information and Occupational Therapy Billing tools that they need to enjoy a more streamlined experience with your Occupational Therapy Billing Services practice. Here, they can manage their Occupational Therapy Billing payments, complete questionnaires and intake feedback forms, and sign and upload documents.
Patient balances and billing payment: Patients can see how much they owe and just pay by card. Many of the Occupational Therapy Billing practices we work with say that they’ve dramatically improved the number of patient Occupational Therapy Billing collections thanks to this feature.
Easier patient onboarding and management: All you have to do is share documents through the MHRCM Patient Portal, and they’ll be able to complete questionnaires, sign any documents, and return them to you.
Speak with an MHRCM Expert and Discover What We Do
As we move forward, both practitioners and patients need to collaborate, communicate, and stay informed about the ever-evolving landscape of Occupational Therapy Billing. By working together and following best practices, we can ensure that Occupational Therapy continues to fulfill its mission of empowering individuals to live their lives to the fullest, unburdened by financial concerns. MHRCM improves your Occupational Therapy Billing reimbursement rate to higher than 99%, helping you make more income without having to pay more.
With MHRCM, you’ll be able to submit clean and total claims, get paid faster, and track your financial performance, giving therapists back their time to focus on their patients and Occupational Therapy procedures while improving your bottom line. Speak to an MHRCM expert today to see how we can keep your Occupational Therapy Billing Services updated, clean, and compliant.
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