Billing vs Billing and Collections for Physical Therapy

Billing vs. Billing and Collections: Know The Difference.

In today’s healthcare landscape, it’s paramount for clinics to discern between mere billing and a more comprehensive approach that includes collections. It’s alarming to see many of our competitors masquerading their services as all-encompassing while, in reality, they handle just the billing facet. By leaving clinics to grapple with the actual collection of claims, they inadvertently impose additional overheads. Clinics are then forced to expand their workforce to cover this shortfall. This is no trivial matter, especially considering the ever-escalating costs of hiring and the prevailing shortage of adept professionals in the industry. This is the difference between billing and billing AND collections.

Understanding the Gap: Why Billing Alone Doesn’t Cut It

Billing is merely the initial step in the revenue cycle. The act of submitting a claim doesn’t automatically translate to guaranteed payment. Indeed, it’s startling to realize that about 20% of all claims necessitate additional interventions after submission to ensure their due payment.

S4PT’s Holistic Approach: Going the Extra Mile

Our unwavering commitment to a 360-degree service approach sets us apart:

Proactive Engagement Post-submission: Claims are more than numbers on paper; they represent your clinic’s hard work. We ensure that each claim goes beyond just submission, directly communicating with involved parties to rectify potential issues.

• Expertise Drawn from a National Framework: With a USA-based team serving clinics nationwide, our experience ensures that claims aren’t just submitted, but they are also submitted correctly the first time around.

• Using Advanced Tools for Efficiency: By incorporating our internal clearinghouse and “Hard Stops” mechanism, we eliminate many pitfalls before they can stall a claim. This preemptive approach drastically reduces claim denials and ensures smoother transactions.

• Relentless Pursuit of Denied Claims: We don’t see denials as final. With each denied claim, we see an opportunity for advocacy, rallying with necessary documentation and communication to ensure reconsideration.

A True Partnership: Your Goals Are Our Goals

Physical therapists went into their profession to help and heal, not to chase down payments. At S4PT, we understand that passion. We aim to take on the “dirty work” of ensuring clinics get their rightful payments. We become your partners in ensuring that PTs can focus on what they are trained for and genuinely care about—delivering exceptional patient care. You treat your patients, and we ensure you’re adequately compensated for that invaluable service.

Aligning Our Financial Interests with Yours

Our fee structure mirrors our commitment. Charging based on a percentage of what we collect means we’re as invested in your clinic’s success as you are. We are bound together in partnership, ensuring that our growth is inextricably tied to yours.

Conclusion: Why Settle for Half Measures?

When evaluating billing services, it’s crucial to delve deep. Is the service genuinely holistic, or is it missing key components? At S4PT, our comprehensive approach ensures that clinics aren’t left in the lurch. Remember, billing without collections is akin to a car devoid of fuel. Your practice deserves a complete partner, not one that offers incomplete solutions.

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