When you run a busy physical therapy practice, you want patient care to be your top priority.
Unfortunately, outdated billing systems can rob you of valuable time and energy, reducing the quality of service you’re able to provide.
Maybe you’ve considered using billing software, but aren’t sure if it’s worth the investment?
I’m here to explain five key ways that the right software can help you, your patients, and your practice.
Ready to say goodbye to old-fashioned, ineffective billing systems?
You’re in the right place.
1. Reduces billing errors
Billing errors create stress for patients, damage the image of your practice, and take time to correct.
Traditional billing systems rely heavily on manual inputting of data, which leaves them wide open to human error.
It’s been shown that in a single hospital stay, there are 289 chances for something to go wrong with a patient’s bill.
This can lead to issues with patients’ insurance, costly bill disputes, and even lawsuits.
Although you might not have quite as many staff involved at your physical therapy practice, there’s no doubt that having to rely on manual processing of information increases the risk of errors.
With modern billing software, the risk is much lower.
All the information needed to generate a bill will be entered into a centralized system and checked automatically against existing data.
The software can help identify mistakes as soon as they occur, allowing you to rectify them before sending incorrect bills to patients.
Would you go back to a physical therapist who over or undercharged you? No.
To maintain a trusting, productive relationship with your patients, error-free billing is an absolute must.
2. Creates less paperwork
Traditional billing systems involve a whole lot of paper.
When you make the switch to billing software, you might be amazed at how empty your in-tray is.
Using less paper has all sorts of benefits, and I’ve listed the main ones below:
- Help the environment. Many patients will be more likely to choose an environmentally-conscious practice for their physical therapy.
- Save money on printing and buying paper supplies.
- Less risk of data loss (e.g. papers being damaged in a fire or flood.)
- Less risk of security compromises. Patient data is kept safe by secure passwords and advanced encryption, not by a locked filing cabinet.
- Spend less time filling in forms. Doctors waste over two-thirds of their time on paperwork. Less paperwork = more time with patients.
Billing tasks which used to involve several physical forms, often full of repeat information, can now be easily generated by entering information into one system.
Existing details will already be stored, meaning that you won’t waste time copying information out over and over again.
3. Keeps patient information in a centralized location
Patient information that’s stored in one centralized location is easier to access and less likely to contain errors.
Most medical billing software can be integrated with other practice management software, meaning that all patient details are kept in one place.
This means that if a patient’s name, address or phone number is updated in your practice management software, it will automatically be updated in your billing software as well.
This reduces the chance of bills being sent to the wrong location, cutting down on non-payments and reducing the need for collections.
Crucial details can be accessed quickly and easily, where in the past you might have spent hours sifting through old papers and documents.
If more than one medical professional is responsible for the care of a patient, they’ll both be able to access the records they need easily. This cuts down on unnecessary communication between staff, increasing the time that’s available for patient contact.
Keeping patient information in one secure system makes sense – it’s safer, easier to access, and cuts down on errors.
Electronic health records are the future, and now’s the time to get onboard.
4. Saves your practice money
Medical billing software involves a large upfront investment, so it’s natural to wonder whether or not it’s really worth it.
Aside from all the benefits already covered, a good piece of billing software can actually help you to save money.
Can’t see how?
Well, consider how many extra members of staff you currently need to keep up to date with paperwork, billing disputes, and other billing-related issues.
With one piece of software to cover all of these tasks faster and more efficiently, you’ll no longer require that extra member on staff.
You’ll save money by not needing to pay their salary, provide extra space in your offices, or buy a computer, a desk, etc.
Can you see how quickly that adds up?
And, with the time you save by using billing software, you’ll free up more appointment space, allowing you to take on new patients and earn more.
Medical billing systems are tax-deductible, which is another nice financial bonus.
Once you’ve invested in software to manage your billing, you’ll find that it quickly pays for itself multiple times over – on top of improving patient experience.
5. Billing software can track follow-up appointments
Physical therapy usually involves multiple sessions and staying on top of follow-up appointments can be tricky for both patients and therapists.
With the right piece of software, you can automatically schedule follow-ups and send reminders out to patients.
This reduces the chance of missed appointments, make things easier for patients, and allows you to keep on top of your schedule.
Patients can opt-in to receive appointment reminders by text, phone call, letter or email, and all of these contact details will be stored in the same system.
No more copying out appointments, looking up phone numbers, and hiring a member of staff to make calls – one system can do it all for you.
Billing software isn’t just about money.
It’s about making life easier for you, your staff, and your patients.
The right software will provide you with easy-to-access, centralized information, secure data storage, better patient communication, and a reduced risk of billing errors.
Get in touch with a medical solutions consultant today to start the process of bringing your billing system into the 21st century.