By Stacy M. Menz, PT, DPT
Payment. What a fun topic, just what we all wanted to talk about.
Regardless of the type of practice each of us is a part of, payment is understandably important. We can provide the most amazing care for our patients, but if we don’t get paid for that time, we won’t be around to provide care much longer.
This issue does a great job of looking at ways to enhance payment in your practice. Our Practice Management article takes a look at how to read and negotiate a payer contract. I know that I read this one closely because this is an area that my staff and I hope to constantly learn and grow. The Marketing article investigates three different cash-based services you can provide in your practice. For those of you already doing these things, maybe reading the article will spark some new ideas. Innovation introduces how to get paid for telehealth services. I found this particularly interesting since in our pediatric practice we are always looking for ways to reach kids who don’t have the resources in their area to receive on-site therapy services. The 101/How-To section discusses billing and outlines considerations to bring it in-house or to outsource it. Even if you already have a plan you are happy with, it never hurts to take a moment to consider all your options. Administrator’s Edge reviews revenue cycle management to help optimize your cash flow.
I don’t know about you, but I definitely want to make sure our cash flow is optimized! There are many other great articles in this issue, but I hope these whetted your appetite and will encourage you to look at where in your practice you can tweak a few things to enhance payment and allow you to further serve your patients and your community. We would love to hear any ideas you have or tactics you have implemented!