With an EMR and trained coder, therapists will experience a constant and steady rate of reimbursements, while reducing late and questioned payments that severely limits the cash flow of clinics.
Denville, NJ (PRWEB) March 04, 2013
“An EMR is an essential tool for handling the thousands of new codes and therapists shouldn’t overlook the value of hiring a billing and coding specialist,” said Chhoda. “Practice owners may view it as an added expense at a time when many clinics are struggling to survive, but its money will be well spent and will pay dividends in the 21st century clinic.”
Chhoda said that an EMR can handle the new codes with ease and provides safeguards to reduce significantly rejections and denials due to mistakes and incorrect coding. The requirement for collecting reimbursements varies widely among providers, costing clinics thousands of dollars in losses each year through coding difficulties. Regulations change rapidly and an EMR performs multiple tasks in the most efficient manner currently available.
Just as clinic owners want the best EMR for their practice, Chhoda noted that practitioners should ensure they hire a certified medical coder to operate the EMR system. A certified coder has undergone extensive and stringent training. An EMR will make the billing and coding process easier overall, but a certified coder brings an array of specialized knowledge and expertise to the job.
A certified coder commands more money for their services and Chhoda noted that the benefits far outweigh the cost of an additional employee. Training a new coder is time consuming and can cost the practice thousands of dollars while they learn. With an EMR and trained coder, therapists will experience a constant and steady rate of reimbursements, while reducing late and questioned payments that severely limits the cash flow of clinics.
The switch to ICD-10 codes provides clinicians with more billing and coding options, but it’s a double-edged sword that can cost practice revenue if they’re not handled correctly. An EMR combined with a certified coder creates a steady and increased stream of revenue for the financial health of any size clinic, allowing them to survive and excel in the new economy of the 21st century.
The success of a physical therapy practice depends largely on the accuracy of its billing and coding practices. Chhoda’s new tips and insights provide practitioners with the information needed to evaluate their needs, along with the cost and benefits of hiring a certified coder, to ensure their clinics survive and thrive in any economic climate.
Chhoda’s office can be reached by phone at 201-535-4475. For more information, visit the website at http://www.emrnews.com.
About Nitin Chhoda
Nitin Chhoda PT, DPT is a licensed physical therapist, a certified strength and conditioning specialist and an entrepreneur. He is the author of "Physical Therapy Marketing For The New Economy" and “Marketing for Physical Therapy Clinics” and is a prolific speaker, writer and creator of products and systems to streamline medical billing and coding, electronic medical records, health care practice management and marketing to increase referrals. He has been featured in numerous industry magazines, major radio and broadcast media, and is the founder of Referral Ignition training systems and the annual Private Practice Summit. Chhoda speaks extensively throughout the U.S., Canada and Asia. He is also the creator of the Therapy Newsletter and Clinical Contact, both web-based services to help private practices improve communication with patients, delivery better quality of care and boost patient retention.