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It’s now the middle of the year. How are your revenue cycles doing so far?

If you’re shrugging your shoulders or letting out a loaded sigh, chances are your revenue cycles aren’t flowing as smoothly as they should be, and we know the biggest reason why: claim denials and delays.

As much as you’d like to keep your cash moving, there always seems to be a snag when it comes to claims. For some unfortunate physical therapists, waiting for reimbursements can even take up to five months! That’s more of a sinkhole than a cycle, and you need to get out of there fast.

The first step to getting out of that revenue rut is to recognize the biggest causes of claim denials and delays. Only by knowing and understanding these causes can you avoid them and consequently make sure that your revenue cycles keep turning in the right pace.

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:

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:

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 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