Real-Time Physical Therapy Practice Benchmarks in Michigan

Running a PT, OT or SLP practice in Michigan shouldn't be mysterious. We share our aggregate data -- whether you're a client of ours or not.

Operational Benchmarks for Physical Therapy Practices in Michigan

Average Days Until Documentation Completion

Across StrataPT's clients, this metric reflects the average number of days before a patient's notes are completed. StrataPT is then able to begin processing the claims.
Data refreshed 4 hours ago
5.37 days
Latest
9.97 days
Average
18.96 days
Max
2.19 days
Min

Payer Scenario Mix

Across StrataPT's clients, this reflects the various payer mixes we often see.
Data refreshed 4 hours ago

Average Units Per Visit

While every practice is different, we can give you a general sense for units per visit by looking at the aggregate data across StrataPT's customers.
Data refreshed 4 hours ago
3.601
Latest
3.693
Expected
3.601
High
4.437
Mean
3.884
Low
3.412
Median
3.886

Financial & RCM Benchmarks for Physical Therapy Practices in Michigan

First Pass Clean Claim Rate

The percentage of claims which meet standards for correct coding, modifiers, structure, and formatting on the first attempt.
Data refreshed 4 hours ago
98.10%
Latest
92.81%
Average
99.40%
Max
62.40%
Min

Denial Rate

The percentage of claims which are eventually denied by insurers, for a variety of possible reasons, including: patient policy information, exhausted benefits, authorization, limits, or provider status.
Data refreshed 4 hours ago
0.30%
Latest
8.60%
Average
21.10%
Max
0.30%
Min

Average Reimbursement Per Visit

While negotiated reimbursement rates between a health insurance company and a healthcare provider are confidential, we can give you a general sense for reimbursement rates by looking at the aggregate data across StrataPT's customers.
Data refreshed 4 hours ago
$155.90
Latest
$100.89
Expected
$155.90
High
$175.74
Mean
$131.59
Low
$100.89
Median
$127.90

Top Healthcare Payers in Michigan

More Michigan Healthcare Payer Benchmarks

State Farm

$322.81

paid in 54 days

Farm Bureau of Michigan

$218.43

paid in 47 days

Progressive

$205.32

paid in 65 days

Blue Cross Blue Shield of Michigan

$141.83

paid in 11 days

Related:

Frequently Asked Questions

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