The International Classification of Diseases (ICD) codes, a standardized system of codes developed by the World Health Organization, are used in
physical therapy billing. ICD-10 is still in use today, although an improved ICD-11 set of codes has been developed and is slated to become the norm in 2025. One of the main justifications for using a digital solution is that these codes are frequently changed; it is far simpler to rely on automation to stay up with the most recent code modifications than to do it manually.
Physical therapy billing services are something that Right Medical Billing has been doing for years. To ensure prompt payment and the highest
possible reimbursement, our skilled physical therapy billing service team will do correct physical therapy billing and coding. Contact us right now for more information in-depth on how we may assist you in receiving the highest possible reimbursement for your physical therapy services.
Getting a patient’s demographic and insurance details, as well as confirming any extra eligibility for financial help, is the first step in your physical
therapy revenue cycle. You'll decide how your patient will pay for any services provided during this pre-authorization and registration period.
By using automated insurance verification technologies and setting transparent pricing rules, you can improve this step as a supplier. Your practice will become more effective by removing patients who cannot afford your services thanks to transparent pricing. Automated patient eligibility solutions will save your staff time by letting you know instantly whether a patient's insurance will pay for their treatment.
A physical therapist can see the patient and provide services after completing the patient intake papers and confirming insurance eligibility. As
you go forward, it's crucial to document everything using CPT and ICD codes so you can precisely track the costs associated with compensation.
This process is significantly streamlined by good medical billing software, which enables you to locate and enter precise codes quickly and efficiently. Even claims cleaning is performed by some medical billing software to guarantee that each claim is correctly coded. This increases the likelihood that your claim will be processed accurately while also helping to free up your team for other tasks.
It’s time to submit the claims for payment now that they have been correctly coded. This is made simple by an electronic medical billing system
because it frequently integrates seamlessly into the workflow and may be completed with the click of a button.
Improving your first-pass or clean claims rate, or the proportion of claims that are approved the first time, is the key to streamlining your claims filing procedure. The top systems offer a clean claims rate of over 99%, so look for a solution with claims scrubbing and an internal clearinghouse to check accuracy.
Your payment will be sent to you once the insurer has examined and approved the claim. Most of the time, your patient will still be required to
pay out-of-pocket expenses, which you are responsible for collecting. Making it as simple as possible for the patient to pay you is crucial in this situation.
As of right now, doing so entails utilizing an integrated billing solution that supports online payments through a patient portal. This makes paying a bill immediately much more likely because it is much more convenient than requiring a mailed check or a phone call to exchange credit card information. Automated billing reminders will also help to promote on-time payments