Beyond Words: Crafting a Financial Success Story for Speech Therapists

There’s nothing speech therapists enjoy more than helping others find their voice in a loud world – it’s what drew you into the profession and what continues to drive you as you build your own practice. That said, don’t you find it a little off-putting that a majority of your day gets lost in a mountain of paperwork? 

It wasn’t a problem at first. Your practice was still relatively new, and you were still growing your patient list, so you had a lot of extra time to dedicate to patient documentation and billing – but times are quickly changing. Your patient list is growing at an impressive rate, and there are only so many hours in the day. 

What if we told you there was a way out? 

Look, we get it. You want to spend more time in front of your patients, but you can’t abandon your medical billing needs – it’s what brings in the money, and what keeps your business running. That’s why we’ve developed a solution that allows you to get back to doing what you do best without taking a hit financially. 

Since our team is proficient in billing codes and modifiers, we rarely make mistakes. You’ll notice claims getting approved at a faster (and more successful) rate, your accounts receivable department will slowly start dwindling down, and you’ll be better equipped to handle the day-to-day operations of your practice. 

All Talk, No Pay: Common Billing Problems SLPs Face

At Millenium, we believe in taking the time to understand the many different problems speech therapists face with medical billing. This helps us better customize our services to meet the needs of each practice we work with – that way, we can ensure you’re getting everything you need and nothing you don’t. 

Here are some of the most common billing problems speech-language pathologists face: 

  • Incorrect or incomplete patient information
  • Inaccurate or missing billing codes (CPT or ICD-10)
  • Claim denied because service not provided by insurance plan
  • Failure to obtain pre-authorization or referral
  • Not bundling services when necessary
  • Errors in capturing time units
  • Not inputting the correct modifiers
  • Late payments, collections piling up, and rejections
  • Massive amounts of time, energy, effort, and overhead spent

While a lot of SLPs hire an in-house team to manage their billing, this often leads to even more problems down the road. Not only does it take a lot of time, energy, and effort to hire and train your employees, but you’ll need to repeat that process every time an employee leaves or the industry rules/standards change. 

Gift of the Gab: We Speak the Billing Language, So You Don’t Have To

Like any industry, the medical billing industry has its own language (in the form of codes). And like any language, medical billing codes are constantly evolving and changing. If you and/or your in-house medical billing team aren’t staying up-to-date with all of these changes, it could be costing your practice big time. 

ICD-9/10-CM codes. CPT codes. HSPCS codes. Modifiers. Rules, regulations, and standards set forth by the Centers for Medicare and Medicaid Services (CMS) and the American Medical Association (AMA). At Millenium Medical Billing, we study this tough language day-in and day-out – that way, you don’t have to. 

Money Talks: Benefits of Hiring a Medical Billing Company

If speech therapists knew how much revenue they were leaving on the table with their current medical billing procedures, they would search for a solution immediately. Unfortunately, most speech therapists either don’t recognize the problem at hand or aren’t aware of a better way. At Millenium, we’re your better way.

Here are just some of the ways we can help your practice craft its own financial success story:

  • Compliance with HIPAA, ICD-9/10, CPT, AAPC, HCPCS, CMS, and AMA
  • Giving speech therapists more time to spend with their patients
  • An uptick in on-time payments due to a reduction in late payments and delays
  • Fewer errors, typos, mistakes, inaccuracies, and complications with patient information
  • Easy-to-use software that allows speech therapists to monitor their billing activity in real-time
  • 24/7 support to ensure your needs are being taken care of around the clock

Imagine a world where your medical billing needs are taken care of – your business is thriving, payments are being made on time, and you finally have the time to dedicate to your patients. It might sound like a fantasy, but not with us working in the background – at that point, it’s what all your days could look like.

Talk of the Town: Establish Your Practice as a Leader in the Industry!

Are claims not getting approved in a timely manner? Are you finding yourself modifying and changing codes often due to denials and/or rejections? Is your practice losing money due to its billing woes? If you answered ‘yes’ to any of those questions, then you can use our help – and for you, we’re willing to give it!

At Millenium Medical Billing, we take pride in offering best-in-class medical billing services to speech therapists who deserve a little break from the constant headaches and elevated stress levels that come with the process. Contact our office today to learn more about how we can help your practice succeed!