Physical Therapy Practice Benchmarks in Illinois

Running a PT, OT or SLP practice in Illinois shouldn't be mysterious. We share our aggregate data -- whether you're a client of ours or not.

Operational Benchmarks for Physical Therapy Practices in Illinois

Average Days Until Documentation Completion

Across StrataPT's clients, this metric reflects the average number of days before a patient's notes are completed. StrataPT is then able to begin processing the claims.
Data refreshed 16 hours ago
31.91 days
Latest
16.43 days
Average
48.50 days
Max
5.78 days
Min

Payer Scenario Mix

Across StrataPT's clients, this reflects the various payer mixes we often see.
Data refreshed 16 hours ago

Average Units Per Visit

While every practice is different, we can give you a general sense for units per visit by looking at the aggregate data across StrataPT's customers.
Data refreshed 16 hours ago
4
Latest
3.865
Expected
4
High
4.25
Mean
3.877
Low
3.417
Median
3.93

Financial & RCM Benchmarks for Physical Therapy Practices in Illinois

Healthcare Payer Reimbursement Rates in Illinois

First Pass Clean Claim Rate

The percentage of claims which meet standards for correct coding, modifiers, structure, and formatting on the first attempt.
Data refreshed 16 hours ago
85.30%
Latest
78.51%
Average
99.70%
Max
39.70%
Min

Denial Rate

The percentage of claims which are eventually denied by insurers, for a variety of possible reasons, including: patient policy information, exhausted benefits, authorization, limits, or provider status.
Data refreshed 16 hours ago
3.90%
Latest
10.11%
Average
33.30%
Max
1.80%
Min

Average Reimbursement Per Visit

While negotiated reimbursement rates between a health insurance company and a healthcare provider are confidential, we can give you a general sense for reimbursement rates by looking at the aggregate data across StrataPT's customers.
Data refreshed 16 hours ago
$111.40
Latest
$279.02
Expected
$111.40
High
$345.64
Mean
$139.09
Low
$99.06
Median
$118.04

Top Healthcare Payers in Illinois

Medicare of Illinois

$102.99

paid in 15 days
View 5 recent CPT Code Combinations

CPT copyright 2023 American Medical Association.

All rights reserved. Fee schedules, relative value units, conversion factors and/or related components are not assigned by the AMA, are not part of CPT, and the AMA is not recommending their use. The AMA does not directly or indirectly practice medicine or dispense medical services. The AMA assumes no liability for data contained or not contained herein.

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Frequently Asked Questions

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300
$100.00
70%

This is the total amount you currently spend for EMR, scheduling or other software used to run your practice on a daily basis.

This is the total amount you currently spend for billing services. Typically this is the total monthly expense of your billing team (including salaries, benefits, clearinghouse fees, USPS postage and more) or the monthly fees paid to your billing service.

+$11,400.00 additional cash each month for your practice

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