Clinicient surveys hundreds of private practice therapists and administrators to gauge the industry’s payment collection skill
Portland, Ore., December 8, 2015
Clinicient Inc., a leader in outpatient rehabilitation automation solutions, today announced the results of its most recent industry survey, titled: “Collect Every Dollar.” More than 400 private practice outpatient rehabilitation practice owners, administrators and therapists responded to a six-question, brand-neutral survey that gauged their ability to secure timely and complete payment for their treatments. Of the survey participants, only 15 percent had confidence that they:
• Know how often their claims are paid on the first attempt;
• Believe that they are collecting payments in an efficient and scalable manner;
• Understand how patient collections affected their AR;
• Have confidence that staff is signing off on all notes on the day of treatment;
• Analyze why claims are being denied; and
• Track why patients drop out of treatment before completing their plan of care
The survey results suggest that more than eight out of 10 practices are failing to take the critical steps necessary to collect full and fair compensation for their services. Potentially, this means that billions of dollars of outpatient rehabilitation services – in physical therapy, occupational therapy, speech-language pathology, and sports medicine rehab – are being under-reimbursed, or even going uncompensated altogether.
In today’s challenging reimbursement environment, outpatient rehab practices must not leave their payment collections to chance. In order to answer the questions above affirmatively, and reveal breakdowns in payment collection, therapists and administrators need fully integrated clinical and financial data analysis at their fingertips. Process automation extends the power of this practice performance intelligence by removing burdensome administrative tasks that make it hard for therapists to promptly and accurately collect every dollar rightfully owed to them.
“Here at Clinicient, we are devoted to taking as many burdensome manual steps as possible off of therapists’ workload,” said Rick Jung, chairman and CEO of Clinicient. “Therapists know that the key to getting paid is submitting clean claims the first time and collecting from patients promptly. But many arduous administrative tasks slow them down and eat up time that could be used for treating patients or simply enjoying work/life balance. It is our mission to take as many steps as possible out of their collection workflow and add in Clinicient’s collective reimbursement intelligence. This combination of process automation technology and expert revenue cycle management services makes collecting full and fair compensation fast and easy.”
The ongoing web-based survey has received 410 participants since its launch on July 19, 2015. Respondents were not paid for their time or prescreened to skew the results. Clinicient’s Collect Every Dollar Playbook, a digital resource kit, is now available to help practices master critical activities for collecting every dollar rightfully owed, such as: collecting patient balances up front; billing clean claims and analyze denials; and measuring success with the right metrics.
Founded in 2004, Clinicient helps outpatient rehabilitation therapy businesses optimize their clinical and financial operations from patient to payment, through a combination of cloud-based EMR, practice management and revenue cycle management (RCM) solutions. By combining its process automation technologies with expert professional services, such as data-driven practice management coaching, Clinicient enables thousands of therapists across the United States to deliver more effective clinical outcomes, and maximizes their collection of nearly $1 billion in payments annually. Clinicient is headquartered in Portland, Oregon; for more information call (877) 312-6494 or visit www.clinicient.com or follow Clinicient on Twitter @Clinicient.