Physical Therapy Practices
You bill insurance, wait thirty days, and get paid less than expected. We track what happens in between.
Insurance Pays. Eventually.
You treat the patient, document the session, and submit the claim. Then you wait. Thirty days later a payment arrives, but it’s not the amount you billed. The insurance company applied their contracted rate, subtracted the copay, and maybe denied part of the claim. Understanding what you actually collected versus what you expected takes real tracking.
Physical therapy practices run on insurance reimbursement. Private pay patients exist, but most revenue flows through Medicare, commercial carriers, or workers compensation. Each payer has different rates, different rules, and different timelines. Without reconciling claims to payments, you don’t actually know if you’re getting paid what you earned.
Multiple Payers, Multiple Rules
Multiple Payers, Multiple Rules
Medicare pays one rate, Blue Cross pays another, workers comp pays another. Each has different documentation requirements and different denial patterns. Keeping track of what’s owed from each payer requires organized systems and regular attention.
The Collection Gap
The Collection Gap
Between insurance payments and patient copays, collecting everything you’re owed takes persistence. We track accounts receivable aging so nothing slips through and balances don’t quietly become write-offs.
What We Track
Insurance revenue creates complexity that standard bookkeeping doesn’t handle well. Your practice management software tracks clinical and billing data. Your accounting needs to reconcile what was billed, what insurance approved, what they actually paid, and what patients still owe. We bridge that gap and make sure the numbers tell the truth.
Most PT practice owners are still treating patients full time. You don’t have hours to spend reconciling insurance payments against claims and chasing down underpayments. We handle the financial tracking so you can focus on patient care while knowing the back office is under control.
Claims and Payments Reconciliation
Claims and Payments Reconciliation
We verify that insurance payments match what should have been paid based on your contracted rates. Underpayments get flagged. Denied claims get identified so someone can follow up before the filing deadline passes.
Monthly Financial Reporting
Monthly Financial Reporting
Clean books closed every month. Profit and loss, balance sheet, and accounts receivable aging. You know where the practice stands without spending your evenings digging through spreadsheets and insurance statements.
Where Money Gets Lost
Insurance reimbursement has too many places for money to fall through. A claim gets denied and nobody follows up. Insurance pays less than the contracted rate and nobody catches it. Patient copays sit in accounts receivable aging until they’re written off. These aren’t dramatic failures. They’re small losses that accumulate quietly until you realize the practice is less profitable than it should be.
PT practice owners often rely on their practice management reports without reconciling to actual bank deposits. The system shows claims submitted and expected payments. But if a payer shorts you or denies a claim, you might not notice for months. By then the timely filing deadline has passed and that revenue is gone forever.
Denials That Don't Get Reworked
Denials That Don't Get Reworked
Insurance denies claims for documentation issues, authorization problems, or coding errors. Without tracking, those claims sit unresolved. Each one represents revenue you earned but won’t collect. Stack up a few denials every month and it adds up to real money.
Underpayments Nobody Catches
Underpayments Nobody Catches
Payers sometimes pay below contracted rates. If nobody checks the explanation of benefits against your contract, you accept whatever they send. Over a year, those underpayments can total thousands of dollars you were entitled to but never received.
Financial Clarity for Your Practice
When insurance revenue gets tracked properly, you know exactly what the practice is collecting. You see which payers are profitable and which create more administrative burden than they’re worth. You catch problems while they’re still fixable instead of writing off revenue that could have been collected with timely follow-up.
We handle the monthly reconciliation, AR tracking, and financial reporting so you can make decisions based on real numbers. Whether you’re planning to add a therapist, expand to a second location, or just want to understand your profitability, clean financials give you the foundation. You focus on patients. We make sure the money side doesn’t fall apart.
Payer Analysis
Payer Analysis
Know which insurance carriers are worth keeping in network based on actual collection rates and administrative effort. Some payers look reasonable on paper but cost more in denials and rework than they bring in. Real data shows you who’s worth your time.
Practice Growth Planning
Practice Growth Planning
Accurate financials support bigger decisions. Hiring another therapist, purchasing equipment, opening a second location. When you know what the practice actually makes after all the insurance adjustments and write-offs, planning becomes possible instead of guesswork.
New Jersey's Fractional CFO Firm
The Next Step:
Let's Talk About Your Business
Tell us about your business and what's on your plate. We'll listen, ask a few questions, and give you a clear picture of how we can help.