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How to Make Collecting Patient Co-Pays a Lot Easier
Twenty percent. This is approximately how much of a medical practice’s revenue is made up of patient co-pays.
To some physical therapists, this portion may not be very significant. But with the difficulties that medical practices are facing today in terms of revenue and reimbursements, that twenty percent can no longer be ignored. Practices today simply cannot afford to lose any more revenue, which is why collecting co-pays has become vital.
Unfortunately, collecting co-pays can be easier said than done. Sometimes, patients will question the necessity of the co-pay, or claim that they cannot make the payment. Either way, this will make collections difficult and in the long run, affect your revenue cycles.
Thankfully, there are ways you can make collections a lot easier on yourself and your staff. Here are some of them:
6 Smart Steps You Can Take to Improve Your Billing Process
For many physical therapists, billing can be a necessary pain in the neck. It’s complicated and riddled with delays and, in some cases, a cause of under compensation. But there’s simply no way around it- there’s no other way you can get paid for your services. There are, however, steps you can take to make your billing process more efficient and less painful. Here are six of them:
Should You Go Out-of-Network?
Dwindling reimbursements, complicated insurance regulations and limited time with each patient — these are just some of the reasons why many physical therapists are seriously considering going out-of-network. Physical therapists, particularly those who have been practicing for some years, know the struggle of staying in-network. But would going out-of-network really
Should you train your staff or outsource your medical billing?
With all of the changes that occur in medical billing every year one of the most important questions that physicians with private practices need to ask themselves is whether or not it is time to outsource their medical billing. With this blog I want to shed some light on the topic by talking about recent AMA changes, and the many benefits of outsourcing.
Keeping Your Gastroenterology Practice Up To Date
The importance of keeping abreast with the rapidly changing medical coding and billing practices cannot be emphasized enough, if you’ve been reading my blog you know that I have been talking about it a lot. When is comes to the rapidly growing Gastroenterology area of patient care, you need to
Accurate Documentation is Essential – When to Query your Providers
Yes, we know that ICD-10 is finally a reality, but by now coders should be starting to get into the groove. We (coders) have – hopefully at this point – learned to code diagnoses with ICD-10-CM, have gotten used to the root operations in ICD-10-PCS, and have been putting our new skills to work!
How Our Clients Feel About Us
(5.0)
Park medical billing service is an excellent choice for the billing service for health care professionals. I have been practicing in 23 years is sub specialty of healthcare industry and had a share of billing services, some good, some terrible.
Park medical billing has been great in providing full service, including pre-cirt./ collections / follow ups / providing complete reports / all up to dated in technology regarding to the billing and follow ups.
Further, they are very honest, certainly know what they are doing .I have been very happy and gracious to their service since I had to change the service about 3 years ago.
My previous billing company was NASDAQ listed company, big and did not perform well on what they had to do…I was thrashed into the old billing company by the way of mergers, which was a horrible experience. Certainly, any healthcare provider using Park medical billing service would not be disappointed.
Hyun Chung, MD, Owner
NY Vein, PC
(5.0)
We hired Park Medical back in March of this year, and from the moment they came in to do a demo we were impressed. Our last biller did not meet expectations at all, but Chol and Monica came in to meet with us and were both professional and personable. Everything they promised, they have delivered.
Seven months later, we are still very impressed. Sheila, our account manager, has been absolutely exceptional. Their customer service is top tier—they increased our revenue, bill in a timely manner, and answer every question no matter how big or small. They even provide support in ways we didn’t think to ask for.
If you’re looking for a billing company, stop your search here. Park Medical will transform your billing process for the better!
Scott Gander, MSPT, Owner
ProTouch Physical Therapy
(5.0)
Very organized and systemic medical billing company. Rapid respond for any issues and minimalize all billing issues. Highly recommended.
Joseph Park, DPT, Owner
Prime Rehab Center Physical Therapy
(5.0)
My company has had a great experience utilizing Park Medical for our billing service. Their software is easy to use and allows you to drill down to find any information you may be looking for.
I would recommend them if any company is looking for an excellent billing company with great rates.
Albert Tasker, CFO
Eagle Physical Therapy & Rehabilitation
(5.0)
My company has been using Park Medical Billing for approximately 1.5 years and I am very pleased with their services! They are available via phone or email whenever the need arises and are prompt with their posting.
Through their help in submitting claims in a timely manner, we have been able to increase our monthly collection rate. I recommend Park Medical Billing for all your billing needs.
Michelle Tawil, DPT, Owner
Tawil Physical Therapy
(5.0)
I have to say that I’m extremely satisfied with Park’s Medical Billing Company’s professionalism, competency, and personal attention to pressing matters. In thirty years of practicing, I’ve utilized a few different management and billing companies; I can unequivocally say that Park’s team is the best fit for my practice.
Not only are they meticulous in their handling of my finances, their vast knowledge with billing software, which I have to admit is difficult and confusing, has been of tremendous benefit to my practice.
On top of that, I must have had the same question multiple times regarding the billing software, and Mr. Park patiently explained and re-explained in person without any condescension. They are definitely worth every penny!
Hyok Yop Lee. MD
Hyok Yop Lee Allergy PC
(5.0)
We have been with Park Medical billing for 4 years and are very happy. They are easy to get in contact with and will fight for every dollar owed to you in your practice.
Eric Stivers, DPT, Owner
Mile High Physical Therapy PC
(5.0)
Chol and his team (shout out to Kristiana, Monica, and Kristen) have been more accommodating than I can express in our billing transition. He has patiently walked us through the process and been available for our many questions and with full explanations since the beginning.
Everyone in his office is friendly and professional, and more importantly, they mean business about helping our business make money. I am amazed at the detail with which his system is able to parse billing and collections in order to help us get an accurate handle on our facilities’ finances. We feel like we acquired another team member in Park Medical Billing
Chretien Cochran, CEO
Covington Physical Therapy Center
(5.0)
It has been a pleasure working with Chol and his team. They are timely and productive. They work with me to make the process as streamlined as possible.
Joel Giffin, PT, Owner
Flex Physical Therapy
(5.0)
Chol and staff have been nothing short of excellent since they took over our billing services. They process claims quickly, follow up on unpaid claims and use their scrubbing software to ensure that claims are correct and have modifiers if needed so we get paid faster.
Since hiring Park Medical Billing my life has become much less stressful.
Dennis Laccarino, Co-Owner
Bluebell Physical Therapy
(5.0)
Park Medical is everything we were looking for and more in a billing company. They went above and beyond our expectations.
Alex Brito, DPT, Owner
Springfield Physical Therapy
(5.0)
I am the owner of ABC Physical Therapy in Somerville NJ and I hired Park Medical in 2016 because I was having a disaster with the other billing company I had been using since Jan 2014. Since hiring Park Medical I have been able to sleep at night knowing everything is running smoothly now.
They do everything from A to Z and if I ever have a billing problem they always find a way to resolve the issue and get me back on my feet.
ABC Physical Therapy participates with almost all the insurance plans and because of this we are always messed up with authorizations or time lapses in authorizations because the insurance company issues them late to us and with Park Medical they are so SMART that they look at the issue’s then come up with a SOLUTION to fix the problem and get things running smoothly again so I can go back to work without worrying about billing problems.
I HIGHLY recommend this EXCELLENT company because they not only take care of your billing but they come up with SOLUTIONS to make things easier for you so the insurance companies do NOT drive you out of business with there diversionary tactics. I give them 5 stars. 🙂
William Medway, Owner
ABC Physical Therapy
(5.0)
Everyone at Park Medical billing is very friendly, knowledgeable and professional. They know Physical Therapy billing !!! Always able to speak with someone in the office who can take care of any billing questions you might have. Extremely happy with this company and highly recommend.
Matthew Holtzer, DPT, Owner
Holmdel Physical Therapy
(5.0)
As the owner and Clinical Director, I was extremely impressed with the level of commitment to have the staff from PMB not only listen to my concerns and questions, but to promptly and quickly respond and resolve.
The other component of their services, is their desire to share ideas and possibilities to improve my overall revenue. I would recommend the services of PMB and their staff, without ANY RESERVATIONS!!!!
Luis Hinc, Owner/Clinical Director
Fortaleza Rehab
(5.0)
We have nothing but high praise to offer for Park Medical Billing. From day one there has been a very consistent and clear line of contact between our business and PMB.
This means we can connect with our billing specialist right away, and any questions or issues we have are addressed in a very timely fashion.
We also appreciate how PMB has worked with us to customize the way we view our billing data so we can have quick and complete access to all claims and payments. PMB is highly recommended!
David Karge, PT, Director
Integrated Medical Care
(5.0)
I am writing in reference to Park Medical Billing Company. Early this year, TOPS Physical Therapy and Osteopractics, decided to change from in house billing to a billing company.
We interviewed several companies and made the decision to hire Park Medical Billing. We are very happy that we chose this company. From the beginning, Park Medical Billing Company was very informative, gave a comprehensive presentation, answered many of our questions before we had to ask them.
They are timely, follow through with commitments made and very accessible. We had to communicate quite often during our transition. The line of communication was always professional and never rushed. We are very happy with Park Medical Billing Company and I would definitely recommend them to you.
Teri Brannon, Office Manager
T.O.P.S. Physical Therapy