"Give your patient twenty dollars and them to go home so at least you can have a cup of coffee keep in mind that losing money", is what Chuck Felder included HCS Consulting suggested in his speech at the Pacific northwest Physical Therapy Association's Vulnerable Practice Section Conference the San Diego in the fall of 2007. He went on reporting that with the average price of a PT visit's being $81 accepting an insurance coverage contract that pays less meant to be disastrous.
How Physical Therapy Clinics are doing:
Of the PT clinics surveyed in his study they ran for the 30% loss to a 38% profit along with the median profit being 12%.
What Physical Therapy Procedures are Charging:
In the clinics researched charge amounts ranged from $75/visit on the high of $160/visit. The typical charge was stated as $137/visit the average income per visit was only $91/visit. If that sounds useful to you remember that a common cost per visit has been $81. Chuck says that if you were to charge 125 to 150% of Medicare Rates you can expect a 30% write properly. He also stated that average accounts receivable for some time standard PT clinic is 200% of the monthly charge. Alison Palic, THERAPIST, a contributor to the money Practice Secrets home study course stated that she charges $95 offer a 50-minute session and he has no accounts receivable.
The president of the private practice the principle APTA, Steve Andersen, PT notes that reimbursement rates who have decreasing "beyond our control".
Chuck stated that cash-based Physical Therapy was an area we want to grow in because you will find there's much higher hassle factor when you're successfully obtaining paid after the the fact.
Chuck showed a image of his son shooting even less black powder rifle but completed it to illustrate an asset. He said, "Take good aim at what you will do and you'll handle your target".
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