Why pay cash for PT?
One of the first questions potential patients ask is if we take their insurance, and the answer is no. We have chosen to offer a cash based option for Physical Therapy for many reasons, including that it is actually the most cost efficient method for a lot of people.
The out of pocket costs for healthcare consumers have been consistently rising over the last 15 years. Healthcare reform has been shifting the burden to the consumer with high deductible plans and high per visit copays.
If you have not met your deductible you will be paying the full price of the services rendered, as well as your copay, and then possibly 20% of the costs once your deductible is met. The average cost for a PT evaluation is $350-400 and the cost of treatment runs on average about $150 per 15 minutes. Of course these numbers vary, but this is an illustration of the bill you might get after all your therapy is done. The average number of physical therapy visits is 8-12, and you are usually sharing your therapist with at least one other patient at the same time or are limited to a shorter session time than what you really need, which can extend the length of your bout of therapy. Family healthcare costs are rising. It might be better to look at your health insurance like your car insurance. It is for the big things like a car accident, but you still get new tires and change the oil.
What are the benefits of using a cash based PT practice over the traditional insurance based PT clinic?
1) Cost effective care: Physical Therapist are musculoskeletal primary care experts. For the majority of patients with movement problems, PTs are the provider of choice. If you have a high deductible plan a Physical Therapist can provide a comprehensive evaluation and treatment at a significantly lower price.
2) Accessibility: In most states PTs have direct access. That means that you can see them without a prescription from your physician. In most cash based businesses there is a much shorter wait time. The sooner the patient is seen, typically the better the outcome.
3) Transparent Pricing: Cost of the service offered is given up front. Cash based pricing eliminates the administrative costs that is needed submit claims to insurance and the unknown amount that the insurance will pay. There will not be varying costs from visit to visit. There is one standing per visit cost. The patient and provider know up front what is coming out of the patients pocket, which is typically much less than an insurance based clinics cost.
4) One - to - One care: Cash based practices typically provide 30 minute to 60 minute 1-to-1 care. This gives the therapist the time to really look at you as a whole. You are not performing your exercises with an aide or by yourself. You are getting hands on care and addressing all of your personal needs during your appointment. Because of this, typically fewer visits are necessary, thus reducing overall costs.
5) All Patients Welcome: Cash based practices are designed to be free from outside influence. The consumer has the freedom to choose who their provider is, how long they would like to receive care, and allows all of the needs of individual patients to be met.
We have chosen this model because we believe it allows us to provide the highest quality care possible. We can spend as much time as we need with our patients, design individualized treatment plans, be honest and transparent about pricing up front, and assist the patient to reach their goals faster with less time spent at therapy. And in many cases, it even saves the patient money.