The reality for so many hospitals today is that it’s harder than ever to balance tight budgets with delivering quality patient care. Leadership and medical staff are being tasked with doing a little more with a little less every year, and one area that can be easily overlooked is physical therapy and rehabilitation. However, providing this service to patients in the recovery phase is essential and can have a significant impact on patient experience and positive outcomes.
One solution that many hospitals turn to is outsourcing their physical therapy and rehabilitation services to a contract therapy provider. In addition to helping overcome many of the strategic and administrative hurdles that hospitals can encounter when running a physical therapy unit, it can also provide several key cost benefits.
What are the primary cost benefits of contract therapy services?
Partnering with a high-quality physical therapy provider can offer the following financial benefits to your hospital:
- Reduced labor costs — Managing a physical therapy unit can be extremely costly in terms of labor hours for your facility. By leveraging the expertise of a specialized organization, you can reduce the need for in-house administrative and management positions.
- Increased reimbursements — Physical therapy and rehabilitation has unique regulatory and billing requirements. Contract therapy services providers have the knowledge to properly document care and submit claims to payers to maximize reimbursement for your hospital.
- Decreased readmissions — Avoidable patient readmissions within 30 days can lead to costly penalties for your facility, particularly from Medicare and Medicaid. One of the best ways to reduce your readmission rate is to ensure that your patients are receiving the physical therapy and rehabilitation care they need. If your facility is struggling to meet these standards on a cost-effective basis, a contract therapy services provider can potentially help.
To give your hospital the best chance of achieving these cost savings, you should partner with the best contract therapy partner you can find.
Finding a contract therapy partner you can trust
Alliance Physical Therapy Partners brings decades of experience in helping hospitals streamline their therapy services while achieving a high level of patient experience and care. We do this by offering our partners proven systems of work, proprietary practice management programs and access to recruiting and hiring top physical therapy talent.
Contact us to learn more about the cost benefits we can offer and for an assessment of your current physical therapy program.