Even before the pandemic situation unfolded, independent therapists and clinic owners were witnessing rapid and somewhat discouraging changes in the Physical and Occupational Therapy market.

This problem is twofold:

1.Many physicians are merging their practices with larger organizations, resulting in “in house” referrals for therapy services rather than to independent therapists

2. Insurance companies continue to cut reimbursement to many allied healthcare professionals, such as Physical and Occupational Therapy, in ways that include:

• Limiting the number of patient visits
• Decreasing compensation for services
• Denying treatment for some diagnoses
• Requiring multiple form submissions and other documentation “hoops” to jump through in order to receive compensation for services provided

All of these factors created the perfect storm for therapists who run their own practices. Fewer patients were referred by physicians, and struggles with insurance compensation resulted in reduced payments. Playing the referral and insurance games became tougher than ever.

“Let no serious crisis go to waste”

As with any other business, adaptability to change is the key to staying in business. Yes, physician referrals and insurance hassles made things tough. But independent therapists who alter their business practices, identify available markets, and change their way of thinking about billing can still enjoy a thriving practice today.

By focusing on employers and employees as the new target market, therapists can access a larger population of patients than before! All interactions lead to more business, healthier employees, and a busier therapy practice.

Even better, direct billing translates into full and timely reimbursement. By providing services to employers and billing them directly, therapists are compensated for the full value of their work, and within 30 days without hassle.

Working with employers also allows for more exposure to individual clients. So now the door is opened for future interactions, directly with employees who may become traditional patients in the future.

This arrangement is a Win for everyone! Employees, employers, families, therapists, and society at large all benefit from this simplified yet more effective way of doing business.

Contact us to learn more about the KEY method, and to unlock this exciting and profitable new market.