Billing Resources
Electronic Billing Metrics Benchmarks
Find the Right Billing Solution for Your Practice!
Tired of spending too much time on billing? Whether you need full support, want to streamline part of your process, or are looking for billing automation, we’ve got a solution for you.
Let HelloNote simplify your billing process and provide valuable insights. Our electronic billing metrics offer a comprehensive view of therapy practices across the USA, covering financial health, patient care, operational efficiency, and professional growth.
By tracking key metrics like claim processing time, reimbursement rates, denial rates, and patient balances, you can gain a deeper understanding of your practice’s performance and make data-driven decisions.
Financial Metrics Benchmarks
Knowing how much revenue each patient brings helps you assess the financial health of your practice. Efficient billing and collections are essential for maintaining cash flow and financial stability. High denial rates can indicate issues with coding or documentation, leading to lost revenue.
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Payer Mix
Understanding the proportion of revenue or patients healthcare providers receives from different sources of payment (i.e. as private insurance, Medicare, Medicaid, self-pay, and other payers) helps you strategize for growth, plan for negotiations with payers, and adjust service offerings based on payer preferences.
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Average Reimbursement
Average reimbursement of claims paid (please note that specific reimbursement rates vary based on negotiations between health insurance companies and individual healthcare providers, we can provide a general overview by analyzing aggregate data)
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Insurance Claim
Denial Rate
The percentage of healthcare insurance claims that are submitted but later rejected or denied by payers (i.e. Medicare, Medicaid, or private insurance companies) impacts the sustainability of your practice, your ability to provide excellent patient care, and your compliance with evolving payer regulations.
Having this data helps you make informed decisions that benefit both your patients and your business.
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Average Units Per Visit
Units billed per visit can vary based on therapist discretion. This metric allows you to balance financial health and patient care efficiency, ultimately helping you grow your practice while staying compliant with payer regulations.
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Average Documentation Time
The average time it takes to finalize patient notes (ex: Evaluation, Daily Notes, Progress Notes, and Discharge Notes) helps you determine inefficiencies you should address in order to balance patient care, administrative duties, and personal time, ultimately improving efficiency and satisfaction in your practice.
Operational Metrics
How efficiently you’re using your time and resources, crucial for optimizing operations.
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What Our Clients Say
Nick at HelloNote has been very responsive and helpful throughout the entire onboarding process. Melanie explains the software very well and make it relatable to PTs. So far very happy with Hello Note
Christina Garcia
Business Owner
It has been great to have a documentation system that has everything I need as a sole practitioner. The trainings are good and Sara in billing is great. Carlos has been very responsive as well with any questions that arise!
Rachael MacGregor
Sole Practitioner
Nick and the team at HelloNote have been extremely helpful with getting my physical therapy practice started. Hellonote is simple and easy to learn for anybody looking for an EMR software. They have integrated e-fax, billing, and other tools to help with efficiency and compliance!
Andrew Brough
Physical Therapist
From the perspective of both a business owner and a physical therapist with over a decade of experience, I can say that HelloNote is a fantastic EMR after having worked with a number of different EMRs in the past. HelloNote’s EMR setup is very intuitive to learn to use. Documentation is easy. Also the customer support team is very responsive. Thank you!
Scott McAmis
Business Owner
“We’ve used several EMR systems over the years, but this is the first one that truly feels built for therapists, by therapists. It’s intuitive, reliable, and the customer support is next-level. Our entire team made the switch seamlessly, and we’re not looking back.”
Cindy Jones
CEO of Therapy1