Patient No-Shows Cost Physical Therapists $1 Million Per Day
Physical therapists have been hit hard by shrinking reimbursements, increased regulation and encroachment from physicians, chiropractors and other would-be competitors. So it’s ironic that one of the most costly aspects of providing care is the patients themselves.
One Million Dollars a Day! We estimate that patients who fail to make their scheduled appointments cost the PT industry $1,000,000 million per day. That’s based on our internal data related to the 10,000 largest PT clinics and hospital outpatient departments in the U.S.
Reducing no-shows often makes more sense than taking on payors. Most physical therapy practices run on thin margins, so if you experience even a few no-shows a day, those missed appointments can take a huge toll on your bottom line. That’s why a small investment in a no-show reduction program is likely to deliver a greater return on your investment than spending even more money on billing systems or staff that will never collect the money you often lose because of payor underpayments and denials.
Read our FREE white paper to reduce your no-shows. Patients skip their scheduled appointments for many reasons, and “forgetting” is often not the problem. Fear, pain, competing priorities, finances, transportation, provider temperament and many other factors can all play a role in no-shows. That’s why we recommend a multi-prong solution that involves the entire practice team. You can read about it in our FREE white paper: 8 Steps to Reduce No-Shows.