As the owner of a physical therapy clinic, you are constantly looking for ways to streamline processes and generate revenue month over over. Looking into 2020, differentiating your business from competitors is most likely top of mind. You may be thinking about unique marketing strategies, brand positioning or even in house changes to help make your business more efficient. Efficiency is the main goal for physical therapy clinic growth, the more productive your staff is then the more you can get done day to day equally to more revenue and happier clientele. Here are some ways you can differentiate your physical therapy clinic in 2020.
Billing can be a very time-consuming process for your business. It takes a ton of time and effort to train staff to correctly invoice and collect payments, as well as actually doing everything necessary to ensure proper billing processes. Having the knowledge and understanding about submitting claims and managing rejections is essential for efficient physical therapy clinic billing. Differentiate your business by partnering with a billing service! Working with the right billing solution can boost efficiencies with your billing processes. A billing solution partner will handle all your claims, rejections and rework any issues to make everything as efficient as possible! This won’t only benefit your business by improving staff productivity but will also set you apart from competitors with a better billing experience that your clients will notice and love!
Is your staff coached on insurance contracts, eligibility and verification? Does your business have processes in place for a quick, seamless verification process? When a new client comes into your physical therapy clinic, they want to experience a professional, easy and quick process of check in and check out. Administrative tasks are time consuming and one 5 minute task can take 40 minutes if that person was not trained correctly. Clients notice when your administrative processes are disorganized. Stay ahead of competitors by outsourcing admin tasks such as coaching, credentialing, insurance verification and insurance eligibility.
Increase your business revenue so you have more budget for marketing, client services and additional staff members to service your physical therapy clients. With efficient revenue follow up and reporting, your business can increase its bottom line. Submitting daily claims, reworking issues right away and handling rejections and denials are all a key part of increasing your physical therapy clinic’s revenue. If you are doing this correctly and consistently, you will see a huge difference in profit. Set yourself apart from competitors by outsourcing a billing solution partner to take care of all this for you. With the revenue that you have missed out on, you can put strategies in place to market your clinic and gain new clientele as well as implement referral and loyalty programs to retain business.
As we head into 2020, what are your main business objectives? Whether it’s to clean things up in house, grow your revenue or streamline processes to free up staff members – your solution is clear. Outsourcing to a billing solutions partner is the best way to differentiate your business and shift gears to a more results driven attitude. Don’t let your business be left behind while your competitors are benefitting from better patient and A/R management! Talk to Therapy Revenue Solutions today to understand how we can help you grow!