Posted on June 29, 2020 by Nathan LeMasterin Blog
Terms to know about cash-based physical therapy:
- Deductible: How much you have to pay before your insurance kicks in
- Co-Pay: This is a fixed amount that you pay for a covered health care service after you’ve paid your deductible
- Co-Insurance: You are responsible for a percentage of costs for health care services after you have paid your deductible
Why cash based for Empower U?
Transparency of medical costs. It’s frustrating getting a bill, then another then a month later an additional bill you thought was taken care of. We are able to eliminate this with upfront, clear cut pricing Secondly, more client time, less paper work. Therapists typically charge by “units” which is typically a timed code. All treatment sessions are 1 hour in length and the same price that ensures the client gets what they need and not what is most reimbursable. Lastly, direct access can be taken advantage of by the client. Minimal to no wait times to see the therapist you want to fix the issue that is the problem to you
How does cash-based physical therapy work?
If you haven’t met your deductible or have a high co-pay, this is the spot for you. If you have not met your deductible, you are essentially a cash paying customer anyways. When it comes down to dollar-per-minute, cash based therapy becomes cheaper due to less treatment sessions and lower cost because it is not inflated for hopes of partial reimbursement dictated by insurance companies
But what if I met my deductible or have a low co-pay?
If your deductible is met or have a low co-pay then you can still submit for reimbursement through your insurance. Getting reimbursed for an out-of-network provider typically merits a 40-80% reimbursement rate. For the best chances to get reimbursed, having a doctors order is not required but may help with the reimbursement process
I haven’t met my deductible but does this still count toward my deductible? Absolutely
Want to find out more or book an appointment? Visit us here and we’ll be happy to answer all of your questions.
