Healthcare IT Blog

Why Billing Is So Difficult for Therapists For most therapists, billing is the part of the job that feels least like “therapy.” You didn’t get into this field to chase down prior authorizations, decipher claim adjustment codes, or appeal denials that make no clinical sense. Yet without an effective billing system, the financial stability of your practice—and your ability to keep serving clients—is at risk.

Why Timely Payments Matter in Therapy Practices For therapists, billing often feels like a necessary evil. You spend your day helping clients navigate life’s challenges—then end up spending your evenings fighting with insurance portals, correcting denials, or wondering when a claim will finally be paid.

The Lifeblood of Healthcare Finance Imagine this: a patient schedules an appointment, receives care, and goes home. Behind the scenes, however, a complex series of administrative and financial steps are already underway and have been since scheduling the appointment; steps that determine whether the provider will ever be paid. That entire journey is known as Revenue Cycle Management (RCM).

There are two types of drudgeries:

Healthcare Revenue Cycle Management (RCM) is the financial foundation of every type of healthcare organization. RCM should span the patient’s entire journey, from scheduling and eligibility verification to final payment collection, and even beyond with reminders to schedule next appointments as may be appropriate.

You know that the healthcare landscape is continually evolving, where “evolving” really means, among other things, staying informed about regulatory changes.

A multispecialty group or practice is one in which at least two different specialties are practiced. Of course, large groups or networks may have tens or dozens of different specialties. Providers may be MDs, DOs, DPMs, DCs, PTs, PAs, NPs, RNs, clinicians, and therapists. Depending on the specialties, some may not be medical (think cosmeticians, aestheticians, and massage therapists).

The decision to switch your medical practice's billing software is significant. It can enhance efficiency, better compliance, and improved patient satisfaction. However, transitioning to a new system can be daunting. This comprehensive guide will walk you through each step of the process to ensure a smooth and effective transition.

Maintaining an efficient and compliant medical practice is crucial in the rapidly evolving healthcare industry. One key aspect often overlooked is the efficacy of medical billing software. Older systems may become obsolete, inefficient, or non-compliant with current standards as technology advances. Here are five signs indicating it's time for your practice to upgrade its medical billing software.

The Centers for Medicare & Medicaid Services (CMS) recently released its 2024 physician fee schedule final rule. Why are you thinking this will be ominous and not good for you? Perhaps that old joke about, “We’re from the government and we’re here to help,” is in your head.