Frequently Asked Questions
What is cash-based physical therapy?
In a cash-based treatment model, the physical therapist enters into a contract with the patient to provide physical therapy, wellness, and/or injury prevention services in a manner that both parties have determined will help them reach their goals most effectively. The patient pays at the time of service, allowing the therapist to focus attention on providing the best possible care while keeping administrative costs low. You may pay for services using cash, check, credit card, or debit card. Documentation for evaluations, treatment visits, and progress notes are performed similar to other physical therapy practices and comply with all legal requirements.
Can my insurance be billed for cash-based physical therapy services?
Most insurance companies will provide payment for physical therapy received “out of network”. Going out of network means that you can choose to see a physical therapist who is not a participating provider with your insurance company. Many patients choose to receive services out of network in order to see the physical therapist of their choice. Documentation and invoice receipts will be provided to you by Parallel PTW for each visit in order to submit for reimbursement from your insurance company. In the case of a cash-based model, it is the patient who is waiting for reimbursement rather than the provider. Please note that insurance will not reimburse for wellness or injury prevention services, only for physical therapy services.
What is an out-of-network provider?
An out-of-network provider simply means that the therapist has not entered into a contract with individual insurance companies to receive reimbursement based on contacted rates. There are MANY insurance companies, each with their own contracted rates and regulations, and Parallel PTW’s energy is best spent working with patients. It is important to note that in-network provider status is not currently based on education, experience, skills, or treatment outcomes, but is often determined by the number of providers in a demographic area.
Will I pay more for cash-based physical therapy?
Although variable, in many cases, you may pay less for cash-based physical therapy services. With rising co-pays, high deductibles, the need for a script from your doctor prior to receiving insurance coverage for physical therapy services, and the need to follow a model of two to three visits per week through insurance, the cost for insurance-based services will often be higher than the total cost under a cash-based model. Parallel PTW can charge less because the simplified cash-based fee structure streamlines billing and does not require hiring billing personnel or paying fees to a third party billing service. In addition, you are receiving one-to-one time with your physical therapist and establishing a care plan based on YOUR unique needs, NOT what your insurance company THINKS you need. This model allows us to focus all energy on patient care, and allows patients to make informed decisions regarding the cost of their health care choices.