A short e-book on the key business metrics that physical therapy practices should measure on a regular basis and best practices to ensure practices are getting paid what they've rightfully earned.
2. Optimize Your Practice
From physician to patient
to practice through to payment
Practice
Physician
Payment
patient
3. Optimize your Practice
Each of the 4P’s avails opportunity
to increase payment
Practice
Physician
4
4. Maximize therapist billable time
1
1. Increase active referrals
Payment
patient
2
3
2. Reduce cancellations
3. Increase percentage of
copays at time of service
5
6
7
5. Improve first pass payment
6. Decrease days A/R
7. Optimize actual collections per visit
4. Physician
1
Increase active referrals
Measure both number of referrals and patient
journey through the practice
Determine who might be dropping out and the total
number of visits per case
Evaluate and optimize the patient experience to:
- Improve the first visit conversion
- Maximize scheduling frequency
- Reduce case drop offs
- Assess average visits per discharged case
1,000
Average referral
can be valued at $
* Average $93 per visit with up to 10.75 visits
Proactive management is needed to keep cases active,
resulting in better patient progress and outcomes,
leading to more referrals.
Clinicient provides the tools that improve communication
to referring physicians and monitors the patient’s
engagement, progress and discharge.
5. Patien
Patient
2
Reduce cancellations
Track any canceled appointment you
are unable to refill
Upon cancellation, reschedule immediately
and refill the opening
Track variance by therapist and
review causes
A healthy practice will average less than
10% cancellations. Key is active management,
including reminding patients and quickly
filling openings.
Average cancellations of a
healthy practice
10
%
Clinicient sends reminders, tracks
canceled appointments and initiates
a rescheduling action.
6. Patient
3
Increase percentage of
copays at time of service
Collect 90-95% of copays upfront
Evaluate how effective your front desk staff
is at collecting patient copay at the time
of service
Chances of copay collection decreases
after patient leaves by
20
%
Chances of collection decrease 20% right after
the patient leaves the clinic. With patient payment
responsibility rising to 20-30% of charges, this
could determine profitability.
Clinicient’s unique cash collection system
helps you track and collect copayments and other
patient payments.
7. Practice
4 6
to
4
units
is a good level of productivity
per billable hour
Maximize therapist
billable time
Determine units billed by therapist by available and
billable hour
Evaluate what successful therapists are doing right
Ensure you are not undercoding, underscheduling or
giving time away
A good level of productivity is 4.0 to 6.0 units per billable
hour (varies between Medicare and Commercial billing).
On average, practices leave between 10% to 20% unbilled.
Clinicient maximizes units billed by automatically
assigning the appropriate CPT codes, calculating units
and guiding therapists on optimal codes.
8. Payment
5
90
%
First Pass Payment (FPP) rate
of a healthy clinic
Improve first pass
payment
Measure how many of your billed services were
paid on the first attempt (FPP)
Determine how accurate or clean your claims are
Indicate how good the front desk is at collecting
and verifying benefit information
Evaluate FPP by 60 and 90 days to determine how
to manage the various payers
Healthy clinics have a FPP rate of 90% or higher.
Clinicient includes critical prompts to ensure the
right information is collected upfront. The proven
Clinicient team can increase FPP to over 95%
within 90 days.
9. Payment
6
Decrease days A/R
Measure how many days on average you take to collect
payment on a day’s billed charges
Know your cash flow velocity as well as front office
and billing processes
Practices can tie up A/R for up to 180 days. Healthy
practices are in the 30 – 40 day range with variances based
on payer mixes, electronic billing and payments.
30-40
days
is how many days a healthy practice
takes to collect payment
Clinicient identifies the reason accounts can be delinquent
to improve process. The proven Clinicient team can reduce
days A/R by as much as 25% by continually analyzing your
accounts and improving billing and collection processes.
10. Payment
7
10
Optimize actual
collections per visit
%
The Clinicient team can
increase collections
Measure how much you actually get paid for each visit
versus what you expect
Project your cash flow, and receive alerts to potential
collection issues such as write-offs and excessive
contractuals
Target the average payment per visit, about $93
per visit across the nation. This varies by state and
reaches up to $120 per visit or more.
How much you get paid is best measured by therapist and by
payer once all parties have made payment.
Clinicient tracks actual payment by therapist and payer to
help optimize total payments. The proven Clinicient team can
also increase collections by at least 10%.
11. Optimize your Practice
Are you doing everything
to optimize your payments?
Practice
Physician
4
4. Maximize therapist billable time
1
1. Increase active referrals
Payment
patient
2
3
2. Reduce cancellations
3. Increase percentage of
copays at time of service
5
6
7
5. Improve first pass payment
6. Decrease days A/R
7. Optimize actual collections per visit
12. The Holistic Clinicient Solution
Clinicient
Revenue Cycle
Management Team
Only Clinicient combines the proven talent of an
experienced Revenue Cycle Management Team with
superior integrated software based on proven practices
that generate maximum payment, faster
Reviews
performance
Maximizes
billing
Collects
faster
The Clinicient Revenue Cycle Management Team
works with you to generate more payment by billing
the maximum amount, collecting it faster and then
reviewing performance opportunities to generate more
The backbone of the service is Clinicient’s integrated
software that manages all aspects of the patient’s care
cycle through your practice
Captures
charges
Keeps
schedule full
Clinicient offers a complete, easy to use solution
tailored to your practice
Ensures full
compliance
Clinicient
Integrated Software
It guides staff with compliance regulations and
requirements, keeps therapist schedules full while
managing patient care and automatically captures
charges as documentation is entered and authorized
Clinicient provides a superior solution that fully
integrates the Clinicient EMR, billing, payer rules and
workflows into one system
13. Managing Patient to Payment.
Because Your Great Care Deserves More.
www.clinicient.com • Telephone 877-312-6494