For chiropractors, finding new revenue streams is a common challenge.
Traditional methods often limit income to in-clinic visits, but what happens when you spend time monitoring a patient’s progress outside the clinic? Many practitioners don’t realize that this time can be reimbursed.
Chiropractors often face hurdles in billing for non-clinic time, such as tracking patient performance or providing advice remotely. The lack of awareness about billing codes that allow reimbursement for these activities means missed revenue opportunities.
This is where Remote Therapeutic Monitoring (RTM) comes into play.
The Financial Challenge in Chiropractic Practices
New revenue streams are critical for the growth and sustainability of chiropractic practices. Traditional billing models often leave chiropractors unable to monetize the time spent on activities like patient monitoring, advice, and care plan adjustments outside the clinic. This gap not only impacts revenue but also the overall effectiveness of patient care.
What is Remote Therapeutic Monitoring (RTM)?
Remote Therapeutic Monitoring (RTM) is a groundbreaking solution designed to address this very challenge. RTM enables healthcare providers to monitor their patients’ health and treatment progress remotely, ensuring that the care continues beyond the clinic’s walls. This continuous monitoring is vital for maintaining patient progress and enhancing treatment outcomes.
Why RTM is Important
RTM is not just a technological advancement; it’s a pivotal shift towards more efficient and effective patient care. By enabling chiropractors to monitor patient behaviors, provide timely interventions, and adjust treatment plans based on real-time data, RTM ensures better patient outcomes and higher satisfaction rates.
Understanding RTM Billing Codes
For chiropractors to be compensated for RTM services, it’s essential to understand the specific billing codes available:
- CPT 98975: This code is used for the initial setup and patient education on the RTM software devices.
- CPT 98977: Covers the cost of supplying the RTM devices and ensuring patient compliance.
- CPT 98980: This code is billed for the first 20 minutes of professional time spent on RTM data management and patient communication per month.
- CPT 98981: Used for each additional 20 minutes of RTM data management and communication within a month.
These codes allow chiropractors to be fairly compensated for the time and resources dedicated to remotely monitoring their patients, transforming what was once non-revenue-generating work into a viable income stream.
As the chiropractic industry evolves, staying ahead of the curve with innovative solutions like RTM is crucial. Understanding the basics of RTM and how it can be integrated into your practice is the first step toward unlocking new revenue streams and enhancing patient care.
If you’re interested in exploring how RTM can revolutionize your practice, we invite you to book a discovery session. We’ll provide a sneak peek into how this technology can integrate seamlessly into your existing systems and boost your revenue.
Stay tuned for our next post where we will delve deeper into implementing RTM in your practice and introduce you to the ultimate RTM solution that integrates seamlessly with your existing systems.