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The Best Modern Profitability and Billing Resource for the Physical Therapy Practice
The profitable Physical Therapy and rehabilitation practice requires sharp focus and excellent administrative skills in addition to assurance of best practices. Payers underpay Physical Therapy and rehabilitation offices more often than any other specialty. An average PT claim earns $55, which has dropped 17% over the past five years. Payers also audit Physical Therapy and rehabilitation offices more often than any other specialty because of inconsistent medical documentation and frequent problems with billing compliance. Instead of treating patients, practice owners spend excessive and wasted time fighting payers and payers' systems.
"Practicing Profitability" teaches how to implement scalable billing processes using modern Internet technology to match the power, efficiency, and scale of payers' systems. The examples in this book have a background in chiropractic office management and are directly applicable, equally relevant and extremely important in the advancement of Physical Therapy and rehabilitation billing practices.
Regardless if you are just starting your Physical Therapy practice or if you are a veteran rehab office owner, "Practicing Profitability" offers a wealth of knowledge in a tightly organized and easily digestible way. It is the best modern profitability resource for the owner of a Physical Therapy practice.
Gerilyn M. Gault, Physical Therapist
Co-Owner G&E Therapies
Rehabilitation Company, NY
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“Technology that shows me
a bird's eye view of every practice I coach, helps me
judge how much valuable time and energy I should invest in each doctor-coach relationship,
and helps me objectively decide how I can better help many more people get the best possible care.”
- Charles Majors, DC
Planet Chiropractic
Romeoville, Illinois |
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“Without a doubt, Vericle is the best system going, period. Reports, SOAPs, posting of charges.
Your system makes everything so smooth and efficient. Most docs don't realize how much they need
this program and your services. Thank you so much for building it. I can't say enough.”
- Curtis Fedorchuk, DC
Cumming, Georgia
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“The findings in Vericle's data are actionable.
Trends are traceable. The net results are measurable improvements in revenue, compliance, and overall
efficiency.”
- Michael Lagana, DC
BackSmart Wellness Center
Edison, New Jersey
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“I have used the Vericle system for over a year, my partners all use the system. I would highly recommend using it for yourself. I really do not need to say any more.”
- Chris Niedzinski, DC
InnerLink Chiropractic, A Maximized Living Center
Farmington Hills, Michigan
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“I cannot speak highly enough of these guys and their billing software. Vericle has revolutionized the way I practice, and my collections have gone through the roof. The more you embrace Vericle technology, the more it will do for you.”
- Robert White, DC
True Health Chiropractic
Springfield, New Jersey
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“Vericle expedites medical billing process four-fold in comparison to national average,
getting 57% of medical insurance claims paid within the first two weeks. Vericle's billing
technology helps the physician focus on patient care, grow profitability, and continue practice
development.”
- Dr. Zelik Frischer
Clinical Professor at the Department of Urology at Stony Brook University
Three-times named in New York Magazine survey of best doctors in the Metropolitan Area |
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“With integrated billing transparency, I see for myself how Vericle leverages every opportunity
to expedite payments of healthcare insurance claims in a continuous 24 x 7 effort.
It has enabled 27% revenue gain over past billing process.”
- Dr. Doug Cassel, Director
Interventional Radiology
Hoag Memorial Hospital
Newport Beach, California |
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“Vericle makes data analysis so intuitive and accessible that we have begun dissecting our
data ourselves. In one case, we discovered that for years we used to write-off A-codes, losing as
much as 29.8% on every claim. Over a decade, the lost differences would have added up to
hundreds of thousands of dollars. In just a few months since hiring Billing Depot, our receivables
over 120 days shrank to below 5%.”
- Ted Gutowski, M.D., Heart Specialists of Central Jersey in Manalapan and Robert Wood Johnson University Hospital
New Brunswick, New Jersey |
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“Vericle's medical billing engine cuts A/R beyond 120 days down to 4%, outperforming four times the national average for medical claims processing.”
- Dr. Boris Petrikovsky, Chairman of Department of Obstetrics and Gynecology at Nassau Healthcare
North Shore University Hospital in Manhasset, New York |
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“Physicians are working harder and keeping less. Applying our unique combination of web-based Vericle software and customer service resources we level the complex revenue cycle playing field for our physicians so they can re-focus on patients not payers.”
- Don Kovalevich, Co-CEO of ColxitMD
North Haledon, New Jersey
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“The earlier we find the error, the less costly is its correction. Vericle's medical billing engine expedites claims validation as early as patient scheduling, even prior to providing care. Within the first two months of using its billing engine, our A/R dropped from 58 to 26 days enabling double-digit percent gains in new billing revenue.”
- Pat Freeze, President,
Billing Depot
East Windsor, New Jersey
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“Vericle combines straight through billing process with integrated user feedback and transparency. It has uniquely adapted standard Wall Street methodology for same day trade settlement to healthcare insurance claims processing, resulting in dramatic A/R reductions, lowest technology costs, and new revenue recovery for the medical practice.”
- Bob Ettl, Managing Director and Chief Technology Officer
Allianz Asset Management
Newport Beach, California
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“Vericle not only expedites the identification of a mismatch between diagnosis and procedure on an individual claim, but also provides specific Medicare documentation to help problem resolution as well as complete analysis to measure the extent of the problem. The insurers have fewer reasons to deny our claims and, in fact, over 90% of our claims are paid within 45 days.”
- Vivian Kominos,
M.D., Heart Specialists of Central Jersey in Manalapan and Centrastate Medical Center
Freehold, New Jersey
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“My 120-day A/R shrank to 4.9%, which translates to 15% in added revenue.”
- Michael McGinnis, M.D
Surgical Pathology Associates in Wrightstown
Centrastate Medical Center
Freehold, New Jersey
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“I have found Vericle and Affinity Billing services to be without any comparable competition regarding implementation, accuracy, quality and cost. Truly a remarkable set of services and products.”
- Steve DeLaCastro
General Partner
Tatum CIO Partners
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“Physicians should receive payment as simply, efficiently and accurately as an on-line merchant. To this end, Vericle, ColxitMD's internet based Service-as-a-Software (SaaS) solution delivers real-time filing, processing, responses and remittance; leverages scale and knowledge benefits centrally and distributes work product to the most effective human resources globally.”
- Bob Gordon, Co-CEO of ColxitMD
North Haledon, New Jersey
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“Vericle helped us scale up our billing operations to accommodate record growth during 2004. We automated the entire claim scrubbing cycle, dramatically reduced our A/R, and raised our client satisfaction. Vericle has continued to evolve, uniquely and rapidly responding to market needs and we expect to leverage it for years to come.”
- Shiek Shah, CIO
Azima Health Services
Dallas, Texas
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“Since I have outsourced my billing to Billing Depot and Vericle, my revenue from collections has been steadily improving. I now have more time for my patients and for building up my practice. Vericle allows me to keep both my finger on the financial pulse of my practice and my eye on the service.”
- Dr. Michael Lewko, Chief Medical Officer
Care Management at St. Joseph's Hospital
America's Top Physician by Consumer's Research Council of America, 2003
Clifton, New Jersey
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“Increasing complexity of billing creates opportunities for the payers to
benefit at the expense of the providers. Endless claim denials, payment delays, and post-payment audits are all too familiar symptoms of dilettante billing. Doctors require professional solutions.”
- Sigmund Miller, DC
Executive Director
Association of New Jersey Chiropractors
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“Billing Precision gets chiropractors paid. It uniquely embraces the vision
and system required for successful high volume practices.”
- Drs. Ben Lerner and Greg Loman, Founders
MaximizedLiving
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“No insurance offers protection against audit risk, which carries enormous
potential penalties. Vericle's unique chiropractic billing software reduces audit risk and streamlines SOAP note compliance management.”
- Jeffrey Randolph, Esq
ANJC Legal Counsel |
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