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Differences between Medical Coding and Medical Billing
Medical Coding or Medical Billing — sometimes, these two terms are mixed or interpreted as one, but in reality, they are two completely different tasks.
4 Reasons Why You Should Choose Park Medical Billing
Medical billing is the process of submitting and following up on claims with insurance companies to ensure healthcare providers receive payment for services delivered. A medical clinic would not function efficiently without trained medical billing professionals, who ensure that claims are coded correctly and submitted on time so patients and
Ways To Handle Denied Claims In Your PT Practice
Nobody wants denied claims. It adds up more of your time and resources to sort everything out and most importantly, slows down your cash flow. One or two erroneous claims maybe few for now but these may add up pretty quickly — and before you know it, a large issue
5 Bad Coding and Billing Habits You Need to Break– Right Now!
You’re losing lots of money on your practice and you don’t even know it.
How could you not be aware of thousands of dollars being lost, you say? Surely that kind of money can’t just disappear without you knowing.
The answer: bad habits. Bad coding and billing habits to be exact. A lot of physical therapists fall victim to these habits without their knowledge, and it’s not totally their fault. Most of them have been misinformed or got used to a certain system that they didn’t know has long been outdated.
It’s time to break those bad habits and get your practice the profits it deserves!
Habit 1: Forgetting Assessment and Management Time
There are several components that make up your service time: patient assessment and preparation (Pre-Time), performing the procedure (Intra-Time), and lastly, documentation and discharge (Post-Time). One financially deadly habit that PTs make is forgetting to include all of these components into their assessment and management time.
4 Tips for Successful Healthcare Payer Contract Negotiations
Negotiation. It’s tough to do successfully, especially when it’s not something you were trained for.
As a physical therapist you’re trained to treat people and help them live better and healthier lives, not make financial negotiations. But the fact is you can’t continue to do what you’re trained to do without having to negotiate terms of payment first. This negotiation doesn’t mean simply agreeing to whatever the payer says– it’s making sure you get what your time, service and skills are truly worth– and that’s the hard part right there.
Fortunately there are ways to negotiate terms to your benefit. Following these tips and armed with the right facts and figures, successful negotiation can be achieved.
The first thing you need to do in order to negotiate successfully is to analyze your current payers’ performance and fee schedules. Identify the payers with whom you do the most business along with the most common CPT codes you use. Get the number of times you bill each code with each payer, and multiply each number by the proposed payment amounts. Then add up all the totals per payer and divide by the total number of codes billed. This should give you the weighted average for each payer, and a good indication of which contracts are most valuable to you.
Apart from this you could also compare the rates of individual CPT codes and approach payers who pay the least amount about increasing to at least reach the average reimbursement rate for these codes.
Ways Private Practices Can Gain a Competitive Advantage in Healthcare
Between hospitals and the numerous other private practices just around the corner, competition can be tough for any private practice. It can be difficult to set your practice apart when many others offer the same services at the same prices. There’s always the solution of providing greater value, but with
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