An Overview on Speech Therapy Billing Services
As a speech-language therapist or other medical service provider specializing in speech therapy or the evaluation of speech, you come across various challenges with billing. Or are you just starting with your practice?
If your practice is fully up to date on ongoing changes in speech therapy medical billing, you still need to go through this article as we are throwing light on some insights like how medical billing codes change all the time. Even experienced coders and billers have sometimes difficulty clearing reimbursement from insurance carriers.
Once you start digging deep, you’ll find tons of CPT (current procedural terminology) codes to choose from, some being so similar. To bring efficiency in your practice, it is necessary to have a strong and thorough knowledge of medical codes for speech therapists. But, once you get started with coding and billing for your speech therapy practice, do you often get enough time for your practice? Coding gets complicated once you start employing more staff and attaining patients. We get it. That’s why we at 24/7 Medical Billing Services want to help up-and-coming speech therapy practices get off on the right foot with our specialized speech therapy medical billing.
Speech Therapy Medical Billing & Coding Guide for 2022 and Beyond
We are presenting a brief guide on medical billing and coding for speech therapists and speech-language pathologists. We will have a quick analysis of how medical billing works for speech therapy clinics, how proper documentation is necessary. Selecting the right CPT codes helps you make sure that your speech therapy practice always clears proper reimbursement for services provided. It will also help you stay completely compliant with CMS guidelines and avoid costly, time-consuming rejections.
We hope that this guide helps you how to choose the right billing and coding company for your speech therapy clinic and how to prevent claim denials and maximize cash flow at your practice.
Don’t leave money on the table. Get faster reimbursements and improve your practice with increased revenue flow.
Billing For Speech Therapy Services
Speech therapy billing and coding can be rigorously complex, and that can sometimes lead to unavoidable stress on the finances of speech-language practices. It is said that 83% of claims fail to meet at least one documentation requirement, which may further lead to Medicare inappropriately paying about $178 million per year.
Things You Need to Take Care of in Speech Therapy Billing
1) Insurance Eligibility
2) Patient Demographics Entry
3) Charge/session Entry
4) Claims Submission
5) Payment Posting
6) Account Receivables Follow-up
7) Denial Management
8) Patient Statements
Speech Therapy Billing Can Be Extremely Complex
All this complexity in speech therapy coding and billing is due to the enormous amount of time and resources required for an average practice, and there are still various errors, leading to denials and underpayments.
With an expert medical billing agency, you can avail some of the benefits mentioned here
- Get access to skilled coders and billers
Speech therapy billing needs as good professional skills and knowledge as speech therapy medicine itself requires. You need to have a backup of skilled coders and billers with the knowledge of how to apply the correct modifiers, such as AT, to make sure that all of your claims are appropriately submitted.
- Lessen your administrative staff and overheads
By contracting with 24/7 Medical Billing Services, you can lower your costs and improve revenue. You can also decrease your dependency on administrative staff and all the overhead costs that are related to speech therapy billing. Moreover, you can reduce your risk of both underpayment and malpractice litigation.
Why Choose 24/7 Medical Billing Services?
We take care of the paperwork
Just like any other medical billing, speech therapy medical billing involves too much paperwork. You will understand how your billing is up to par and won’t have any issues with RACs, MPICs, MACs, and other audit systems. 24/7 Medical Billing Services is an expert in this field, so instead of worrying about your paperwork, you can substantially worry about being an expert in yours.
We will ease your workload and increase your revenue. Imagine everything you could achieve if you could just ignore paperwork and focus all your energy on your medical profession.
Up-to-date with all industry changes
24/7 Medical Billing Services has sustainable medical billing experience and uses a technically and technologically sound billing system. We also keep ourselves updated with changes in Medicare compliance guidelines. You will be at peace of mind that comes from understanding your claims are submitted both timely and correctly while generating continual cash flow.