Op-ti-mal (op-ti-mal)
adj. Most favorable or desirable;
optimal. billing. solutions.

[Toll Free] 844.891.7564
[Fax] 714.881.1463
[E] info@optimalbillingsolutions.net

Located in Huntington Beach California, Surf City - USA

Disclaimer

"Improve the financial health
of your business with
Optimal Billing Solutions"

Benefits

Benefits of Outsourcing:

benefits-optimal-billing-solutionsOutsourcing has become in increasing trend amongst healthcare providers. Benchmark studies show that outsourcing generally results in higher collections per visit compared to in office labor. We know it can be a difficult decision to outsource your billing, but you will not be disappointed with Optimal Billing Solutions.

Outsourcing allows practices to improve the efficiency of their operations while reducing or eliminating many costs, including costly software programs, hardware, maintenance, tech support, upgrades, back-up systems, postage expenses, payroll expenses such as training, employee medical benefits, sick pay, and vacation.

Outsourcing promotes daily billing, faster claims processing, consistent cash flow, better industry insights and trends, and a billing team that is driven to increase the profit of your business.  Proper billing takes a lot of time and effort and we make sure to pull out all the stops on unnecessary denials and unpaid claims.

Optimal Billing Solutions participates in numerous educational webinars throughout the year that your staff may not have time to do.  This allows us to better serve you. We can answer your questions about MIPS, Medicare Compliance, EMR, Medicaid site visits,  CPT code descriptions, ICD10, Codes Covered, Credentialling, 8-minute rule, ABN’s,  Targeted Probe and Educate, supervision requirements etc.  If we don’t have an answer to your question, we will research it until we do.

2023 webinars completed:

  1. How to Use and apply ERISA to Get Claims Paid, AMBA 3-14-23
  2. PT Billing Workflow 7-25-23
  3. Deconstructing Medical Necessity From a Payor Perspective 11-16-23
  4. Molina Overpayments Tool 3-21-23
  5. Medicaid Workshop Elgibility and authorizations 9-6-23
  6. Denials Management- Lynn Anderanin 2023
  7. The Rehab therapist Guide to Organizing and Billing Process for Maximum Reimbursement- John Wallace WebPT 2023
  8. FY 2024 ICD-10 Updated- Rick Gawenda
  9. Physical Therapy Billing Live Q&A- John Wallace 2023

  10. Revenue Integrity Maximizing Revenue in a Tough Reimbursement Environment 10-24-2023 

  11. Navigating Dry Needling Payer Coverage Issues John Wallace 3/1/2023

  12. Understanding, Finding and Using Payments per Visits to Improve Practice Revenue part 1 and Part 2 2023

  13. Payer Contracting 101 WebPT john Wallace 2023

  14. How to Clean Up AR and Boost Revenue Stephanie Thomas CPC CANPC COSC  Webinar Planet 2023

2021 webinars completed:

  1. Improving the Patient Digital Experience 06-24-21
  2. Cyber Security Tips-Kareo 8-25-21
  3. Achieving a Stronger Denial and Appeal Management Strategy 08-26-21
  4. The Devastating Effects of Social Media in Healthcare 09-01-21
  5. Outpatient Therapy Maintenance Billing-CMS October 2021
  6. The ABCs of the New RTM Codes for 2022: How to Get Reimbursed for Engaging With Patients 12-16-21
  7. 5 Things Our Staff Can Do To Improve Patient Payments EZ Claims 4-29-21
  8. Emerging Trends In Physical Therapy Keet 5-18-21
  9. Medicare Updates 2021 Keet
  10. 2022 Medicare Final Rule Keet 11-9-21
  11. WebPT Marketing Ideas 2/17/21
  12. 10 Steps to Improve Your Compliance Efforts, Robert Liles attny 2/18/21
  13. Covid Vaccination Requirements for Health Care Providers- CMS 11/8/2021
  14. Speech-Language CPT HCPCS Changes for 2022  ASHA 11/11/21
  15. Completing Your HIPAA Security Risk Assessment- HIPAA One 11/16/21
  16. WebPT Medicare Changes for 2022 Rick Gawenda 12/14/21

2020 webinars completed:

  1. New CCI edits and initial evals; what every therapist must know 1-16-20
  2. Best practices for documenting faster and more accurately 2-20-20
  3. Covid-19; Clinicient 3-17-20
  4. Collecting payments during economic hardships-6-25-20
  5. MIPS, Outcomes and the proposed rule: 2021 8-26-20
  6. 2020 Elevate Virtual Summit Clinicient 12-15-20
  7. CMS Outpatient Therapy Rehab Services 1-21-20
  8. 6 Keys to Sustaining your Private Practice 7-16-2020
  9. Educating Patients on Payments 8-4-2020
  10. 6 Reason Patients Don’t Pay bills 12-7-2020
  11. AIM Rehab Guidelines 12-2020
  12. Mountains of Regulations; What’s changing for PT’s, OT’s SLP’s in 2021 12-17-2020
  13. Marketing Strategies 12-15-2020
  14. Medicare Fee Schedule Cuts – What are your options? 12-10-2020
  15. How to Draft an Effective Appeal Letter 8-20-2020
  16. Tackling Telehealth: How PTs, OTs, and SLPs Can Treat Virtually—and Get Paid 5-14-2020
  17. Telehealth and E-Visits: The Latest on Coverage, Documentation, Coding, and Payment 4-8-2020
  18. Implementing Telehealth in Your Practice STAT: Practical Guidance from Experienced Telehealth PTs 3-26-2020
  19. Eliminating Patient Payment Barriers 3-26-2020
  20. Strategies for Minimizing the Impact of COVID-19 3-18-2020
  21. Medicare, Medicaid, Private Pay and Patient Kickbacks and Inducements. 11-12-19
  22. How to protect PHI 3-10-2020
  23. Modifier Compliance 4-14-20
  24. Building Block of an Effective Complaince Program 6-18-2020
  25. TPE’s, ADR’s, Pre-Payment Reviews, Post-Payment Audits and Suspensions- What’s the Big Deal? 9-7-2020
  26. Understanding HIPAA- steps to Compliance 9-22-20
  27. Simple Tips to Increase Your Practice’s Cashflow 11-4-2020
  28. Adapting to the Final Rule & MIPS Updates 12-9-2020

In-House Billing Solo Practice Monthly In-House Cost Optimal Billing Cost Real-Time Cost (Enter your own values)
Employee Salary (per employee) $17.00 per hour x 40 hours per week = $680 $680 x 52 weeks = $35,360 $35,360 ÷ 12 months = $2,946.67 $2,950 = one month gross pay $2,950.00 $2,100.00 Average of $30,000.00 Net Receivables at 7.0%
Medical Benefits Average PPO plan $175.00 (50% Employer's portion of dues or stipend) $87.50 NONE
Sick Leave Coverage Based on 1/2 day per month varies NONE
Vacation Leave Coverage Based on a one week paid Vacation per year varies NONE
Retirement Plan 401K Based on a 3% Employer Contribution per month $90.00 NONE
Other Employee Costs or Perks Varies NONE
Workers Compensation Based on $1.25 per $100.00 on payroll $45.0 NONE
Payroll Taxes (estimated) Social Security, Medicare, State Unemployment $214.50 NONE
Practice Management Software Average cost for monthly web-based sofware use,EMR $200.00 NONE
Electronic Claims Submission Fee @ $0.35 per claim Based on 70% of total monthly claims ( 300 claims) $73.50 NONE
Paper Claims (Cost of Supplies & Postage) @ $0.82 per claim Based on 30% of total monthly claims (300 claims) $73.80 NONE
Patient Statements (Cost of Supplies & Postage) @ $0.84 per statement Approximately 50 per month $42.50 NONE
TOTAL COST PER MONTH $3,776.30 $2,100.00

ADDITIONAL COSTS FOR IN-HOUSE BILLING

Office Space - Office Equipment (Computer System, Fax, Printer Scanner, Copier, Locking Filing System) - Billing Software & IT Support - Coding Books - Training - Con-Ed Seminars-Chart Storage Space - Electricity - Phone Charges - Office Supplies, Printer Ink,Copier Toner,Paper Etc.

CONTACT OPTIMAL BILLING SOLUTIONS TODAY

Call us toll free today! [844] 891.7564