How Much Does Physical Therapy Billing Software Cost?
Last Updated: December 02, 2022
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Physical therapists have a unique and critical role as health care providers. Their job specifically deems them with the responsibility to evaluate and create rehabilitative treatment plans for patients of all ages. Sometimes PT treatment is the only way to avoid permanent disability. However, the average physical therapy practice collects less than 45% of fees for service.
Physical Therapist Medical Billing #
The burden of proof is often on the physical therapist to prove that a patient is covered by their insurance for services rendered. Furthermore, billing coding errors and time taken to accurately submit treatment information to insurance companies sabotages a practices success. Inefficient insurance billing will cost valuable time and money. Undeniably, the business solution is finding the right medical insurance billing software.
Billing Software #
Also commonly referred to as medical practice management (MPM) software, our vendors offer medical insurance billing software that can transform your physical therapy practice. Do not settle for a collecting only a fraction of rightful service compensation from insurance companies.
Watch: Choosing the Best EMR for your Physical Therapy Practice in 2020 #
Watch this video to review the best EMR software for your physical therapy office.
Billiing Software Benefits #
- Faster reimbursement rate
- Reduce aged receivables
- Minimize office expenses
- Eliminate claim denials with improved efficiency and accuracy
- Increase profits and general cash flow
There are a large number of qualified MPM software products on the market. For some practices an on-site, client/server billing software plan is ideal and for others a web-based/ASP software package fits their needs best. The easiest and smartest approach to finding the best billing software for your physical therapy practice is to obtain product and cost information from several reputable suppliers.
Physical Therapist Billing Software Average Costs #
Client/server medical insurance billing software - Typically is the more expensive of than web based software. The software and server are set up on site. Depending on the size of the practice, and equipment and service needs specific to each facility, the total costs can range widely from $1,500 up to $50,000. Review the information below to verify why and how the costs drastically vary with this type of software system:
*** Software license - $1,500 to $3,500 per user
- PC server - $3,500 to $5,000
- Ethernet switch/wires - $200 to $250
- Back up hard drive - $500 to $800
- Implementation and training - $1,000 to $4,000
- Software upgrades (annual) -$1,000 to $4,000
- IT support - $150 to $200 per hour**
Web-based (ASP) software - On average, has lower associated costs. This type of software license setup costs anywhere from $350 to $2,000 and upgrades are typically automatic and free of charge (or are included within a monthly fee). Additional monthly fees cost between $40 and $400 (which may include data transfer and exportation fees, additional service and support, intensive training, software branding, etc.)
Physical Therapist Billing Sample Costs #
- Quick Practice - standard ($599), deluxe ($1,199), and professional software ($1,799) packages. (Additional fees may apply and prices are for 1 station. Additional workstations are only $200 each. Special pricing offered for 2 or more offices/locations.)
- MPMsoft billing software - $350 setup (Installation, Support, Training + Go-Live). 12 months of training and support for small- large offices ranges in cost from $698 to $898 (Additional fees may apply)
- WebPT - Starting at $3/day per provider with unlimited clerical users
Remember, when shopping for MPM software, be sure to confirm:
- The software is specialty specific to physical therapy and HIPAA compliant
- A detailed list of ALL fees that you are responsible for
- That you can take data with you if you decide end your agreement and switch to a different vendor. Avoid the danger of entrusting your vital patient and billing information to a service provider that could lock you out if you wish to move to another service.