No one trains to be a therapist because they love to submit insurance claims, but billing is a fundamental part of running a practice. It can also be tedious and frustrating, as well as all too easy to overlook.
Billing services for therapists are designed to take the stress out of billing, giving you more time for the important tasks. In this guide, we’ll explore what billing services are, why you need one, and provide some software options to consider.
What Is A Billing Service For Therapists?
Billing can be a time-consuming task, but unfortunately, it’s one you have to deal with as a therapist. Whether you accept private pay, insurance, or a hybrid method, there’s no way to avoid billing.
For therapists on an insurance panel, billing can be even more work than client sessions. You need to know CPT codes and Diagnosis codes, you need to be aware of the insurance panels procedure, and you need to follow up when you’re waiting on reimbursement.
A billing service can’t do everything for you, but it can take away some of the additional admin work and streamline the procedure. With a billing service, you can organize your bills better.
The services typically include eligibility checks, pre-set forms to create superbills, and integrations with insurance systems that can process your claims (and make it easier to follow up on reimbursement).
Why Use A Billing Service For Therapists?
Billing services make getting paid easier. They can speed up processing private payments, and reduce the hassle of claiming an insurance reimbursement. As these services are integrated with medical insurance systems, you don’t have to perform individual checks and processes by yourself.
Using a billing service for therapists essentially removes an admin task, giving you more time to spend with clients, and less time spent stressing.
One of the biggest advantages of using a billing service is that it limits the chance of error. Even a minor mistake on a bill for an insurance panel can lead to a claim being rejected, meaning you will need to appeal if you want to get paid.
With a billing service, intelligent software will take care of the majority of the task, so there are fewer opportunities for human error.
If you’re using practice management software, billing services are likely to be included! Practice management software is the modern-day solution to filing systems and paperwork, offering a digital service for overseeing daily admin.
Many of these software services include a billing option, allowing you to integrate billing with the rest of your practice management.
If you haven’t switched to an online practice management system, this might be your sign to make the change! Look for a practice management system that includes billing and processing services.
Why Shouldn’t You Use A Billing Service For Therapists?
The major disadvantage of using a billing service for therapists is the expense. Billing can be a repetitive task, but it isn’t necessarily a difficult one. Once you have some experience with creating bills and superbills, you should be able to stay on top of your finances.
A billing service will most likely charge you for both the subscription, and for processing payments. If your budget is small, these expenses might seem unnecessary.
Outsourcing To A Billing Professional
Getting a bill wrong can result in major complications for you, your practice, and your client. And when you have other things to take care of (primarily, client care), billing can fall through the cracks. For that reason, you might consider outsourcing to a billing professional.
The major advantage of this strategy is that it’s out of your hands. You can focus on the important things, secure in the knowledge that your billing is being taken care of.
However, these services are expensive, and for a smaller private practice, rarely worth the investment. Patient billing can seem intimidating at first, but once you’ve got to know the insurance panel system, and learned the necessary CPT codes, it’s easy to cope with.
Billing Software For Therapists
Considering investing in billing services? Here are some of our top picks. Many practice management software tools have integrated billing software, which can make this a steeper investment than you might expect.
However, if you’re looking for an overall service to help run your business, pay attention to the billing help on offer.
Therabill
Therabill is a simple and straightforward practice management tool that allows you to file electronic billing claims. Therabill takes care of routing your claims automatically, saving you time and effort.
And with multiple layers of error checking, there’s less chance of your claims being rejected, so you can get paid quicker.
Office Ally
Office Ally is a popular tool with hospitals, and it’s gaining attention among mental health private practices. This is a free tool, granting you access to billing services at no additional cost. Because of this, Office Ally is a simple service (for full EHR software, you do need to pay a premium).
However, for new practices balancing budgets, this is a useful option to consider.
SimplePractice
One of the most popular business management services around, SimplePractice offers a complete tool for streamlining your practice. This includes a thorough billing service, which allows you to create and file claims, as well as bill private pay clients, quickly and easily.
TherapyNotes
An EHR service designed for behavioral health, TherapyNotes aims to take the stress out of billing. You can create and submit an insurance claim with just a few clicks, and the integrated service will take care of the rest.
TheraNest
Designed by therapists for therapists, the team behind TheraNest understands that billing is one of the least enjoyable admin tasks. With TheraNest practice management software, you don’t have to stress about the bills.
The billing service is also integrated into reporting and client portal, so your bills can do more.
Final Thoughts
Billing is an unavoidable part of running a successful practice, but it can also add a lot of stress to your day. Billing services for therapists integrate with insurance panels to cut down the effort, giving you more time with clients.