Understanding your True Reimbursement Rate.
Strata Shorts are quick conversations between Strata’s CEO, Paul Singh, and Director of Marketing, Thomas Schreiber. Episodes cover a wide variety of topics such as Healthcare billing, Growing a PT/OT Clinic, Entrepreneurship and more!
On this episode of Strata Shorts, we dive into
1. How Clinics achieve a 99.99% Reimbursement Rate
2. Understanding your TRUE reimbursement rate
3. The Dark Underbelly of RCM
Episode Highlights: “You know I’ve met prospects that come in and in one breath say they’re collecting 99.99% but in the next breath they’ll tell me they wrote off $138,000 of lost revenue last year” 🤯
“And if you can look me in the eye and tell me that your in-house billing team is not only that diligent but also that fast to correct any issues, I’ll gladly back off here. But again, the summary of this is, we are not a hard sales organization, and we don’t need everybody to like see our view of the world, but what we want you to do is be honest with yourself about what the true cost of your current software, people, and lost revenue. And if that number is higher than you want it to be, come talk to us. The enemy is not us, the enemy is the payers that make it harder and harder for you to collect your money.“
“Most practice owners don’t fully understand the total cost of their EMR. For example, some of our clients that transition to us from other platforms are used to a lower billing fee. But let’s add up the actual costs of the current systems that you have. And if you add up the monthly fee of the EMR, and then add on the additional fees of what other pieces of software have to bolt onto that to do scheduling, text messaging, etc. When you add up all the software fees and the percentage you’re paying for billing, now things look a bit different.”
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If you’d like to learn more about Strata EMR & RCM and achieving a 99.99% reimbursement rate for your PT, OT or SLP Clinic head over to stratapt.com and book a call with our team!
If you have any questions, comments, or ideas, reach out to Thomas Schreiber, our Director of Marketing at hello@stratapt.com