Search
5 Best Practices for Collecting Outstanding Balances
Collecting patient balances is one of the single most important sources of revenue for your practice, and it is one of the most important compliance practices that you can implement. Collecting patient balances is important for many reasons, but providers seem to struggle with this step in the process. There are probably many reasons why it is difficult to collect from patients in private practice, but we would like to help you with the process of collecting from your patient
Contracted Rate vs Standard Rate
Understanding and projecting revenue as a therapist in private practice can be complex. There are a lot of factors that can influence rates, and there are a lot of terms floating around such as a contracted rate, standard rate, cash rate, retail rate, or private pay rate. What do they all mean? And how can you use them to better understand the financial health of your practice? Practice Solutions is here to help! Standard Rates Standard rate, cash rate, retail rate, and priva
Telehealth Billing Made Simple in 3 Steps
At this point it is likely that you are intimately familiar with telehealth billing. The COVID-19 pandemic required that all healthcare professionals become familiar with virtual sessions overnight. However, we still get a high volume of questions that serve to clarify the telehealth billing process. We want to do our best to make this complicated process simpler by providing some best practice tips and tricks for your practice. In this blog we will cover software requirement
How to Exit an Insurance Panel
If you are currently credentialed with an insurance company and you have decided that you would no longer like to work with this insurance company, there are a few different ways that you can go about exiting an insurance panel. There are also many reasons that you may be considering exiting an insurance panel, which may influence which route is the best for you. In today’s post, we are diving into each of the methods that you can exit an insurance panel and what circumstance
Insurance Billing Secrets No One Tells You
There is little doubt that insurance billing can be the source of much frustration when owning and running a private practice. Insurance billing can even be a source of frustration for staff when it comes to payment or acquiring clients when starting out. It takes time and expertise (as well as a lot of patience) to master everything there is to know about insurance. This is why we exist! We know that you did not take a class in your masters program about insurance or private
