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Are you overwhelmed or exhausted dealing with insurance? If getting paid for your services is eating up your valuable time, you'll want to see our top 7 reasons for hiring a therapy billing service.
With therapy billing services, you'll have professionals handle everything for you. They'll manage your insurance billing efficiently and inexpensively. Plus, newly developed software means it’s never been easier. Read on for 7 reasons you need to hire a therapy billing service, followed by a quick breakdown of Thrizer's groundbreaking offerings.
Here's our top 7 reasons. Make sure to read #7 where we myth-bust about the cost of outsourcing.
When you outsource your billing, you’re delegating to professionals.
These professionals can navigate insurance claims with ease due to years of experience. And they do it with care and consistency.
Outsource your billing to take advantage of this in your practice.
Your staff can be doing a lot of good for your practice. So, why have them filling out insurance paperwork at all?
Let professionals handle your clients insurance claims, and use your staff to run your business smoothly in other ways.
Try having them screen clients, maintain a clean office environment, follow up with clients for feedback, promote other services, or whatever your business needs.
Insurance claims are exhausting.
The good news is that once you’ve outsourced your insurance processes, you’ll have more time and energy for your clients.
If you want to have a bigger impact with your clients, outsourced billing is the way to go.
You can save 2-10 hours every week on billing, even if you’re a solo practitioner. If you run a group practice, this number is much higher.
This is 100-500 hours each year that you’re currently not being paid for, so why not let someone else handle the billing process?
Outsource the least enjoyable part of your day, and let the experts handle your insurance and reimbursements with ease.
Another reason you need to outsource your insurance billing is to get off the phone.
If you handle it yourself, you or your staff will be on the phone with insurance daily. And that’s not to mention your clients, who will be calling to ask where their reimbursements are.
Instead, free yourself or your staff from phone duty. Outsource this process and allow your clients and their insurance to call your therapy billing service, not you.
One easily overlooked cost of doing your billing in-house is peace of mind.
When you do your billing in-house, you have to worry about employee turnover, staff vacations, staying on top of new billing rules, and more.
Skip the stress. Outsource your billing today and get peace of mind
Let’s say you spend 5 hours per week following up with insurance.
Since insurance doesn’t take a vacation, someone will need to do this for all 52 weeks of the year.
Let’s do the math:
$15/hour staff pay
X 5 hours per week
X 52 weeks per year
= $3,900 every year
Now, what if you don’t have staff to help you? There goes 250+ hours each year towards insurance billing and follow up that you’re not getting paid for.
If you do have staff to help you? That’s 250+ hours each year that your staff could spend elsewhere. Not to mention that a professional service can handle insurance claims better.
And what if you have a bigger practice? Some practices pay an in-house medical biller $25,000 to $40,000 every year to do this alone.
With all of the downsides of doing your billing in-house, there has to be a better way.
If you’re convinced that outsourcing your billing duties is the way to go, good.
Now, what should you look for with your billing company?
The right company can help with a few different tasks, including:
Now you may be convinced you need a trusted 3rd party for your insurance billing, and you know what to look for when you’re ready to hire. So, which company is the best option?
Imagine there was a way to automate your out-of-network insurance billing, streamline your payments, give your clients a world-class experience, save time, have more energy for therapy, AND save money while doing all this.
Well, we’re here to tell you that Thrizer is such a solution!
Thrizer is a payment application specifically designed for those with out-of-network therapists.
Thrizer has two options: OON Pay and Thrizer Pay.
Here’s a breakdown of what you get with each:
Price: Free for clients, 3% per charge for therapists
Price: 5% for clients, 3% for therapists
As you can see, with both options your client takes advantage of their OON benefits. And they avoid dealing with insurance.
The difference is that with Thrizer Pay, we pay the allowed amount up front and wait to be reimbursed ourselves, allowing your client to keep more money in their pocket.
If you’re ready to learn more, request a virtual demo with one of our team members.
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This blog post is provided for informational purposes only and is not intended as legal, business, medical, or insurance advice. Laws relating to health insurance and coverage are complex, and their application can vary widely depending on individual circumstances and state laws. Similarly, decisions regarding mental health care should be made with the guidance of qualified health care providers. We strongly recommend consulting with a qualified attorney or legal advisor, insurance representative, and/or medical professional to discuss your specific situation and how the laws apply to you or your situation.
