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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 8 hours ago
6.67 days
Latest
4.75 days
Average
7.69 days
Max
0.75 days
Min

Payer Scenario Mix

Across StrataPT's clients, this reflects the various payer mixes we often see.
Data refreshed 8 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 8 hours ago
3.314
Latest
3.674
Expected
3.314
High
4.067
Mean
3.658
Low
3.314
Median
3.662

Financial & RCM Benchmarks for Physical Therapy Practices in Michigan

Healthcare Payer Reimbursement Rates 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 8 hours ago
96.30%
Latest
89.99%
Average
99.60%
Max
73.20%
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 8 hours ago
6.10%
Latest
11.72%
Average
16.70%
Max
5.20%
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 8 hours ago
$120.80
Latest
$113.40
Expected
$120.80
High
$124.73
Mean
$113.30
Low
$102.72
Median
$112.65

Top Healthcare Payers in Michigan

BCBS of Michigan

$139.15

paid in 11 days
View 41 recent CPT Code Combinations

Medicare of Michigan

$106.59

paid in 15 days
View 26 recent CPT Code Combinations

Blue Cross Blue Shield of Michigan (Medicare Advantage)

$96.07

paid in 23 days
View 18 recent CPT Code Combinations

Alliance Health and Life

$89.01

paid in 13 days
View 7 recent CPT Code Combinations

CPT copyright 2024 American Medical Association.

All rights reserved. Fee schedules, relative value units, conversion factors and/or related components are not assigned by the AMA, are not part of CPT, and the AMA is not recommending their use. The AMA does not directly or indirectly practice medicine or dispense medical services. The AMA assumes no liability for data contained or not contained herein.

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Our team will guide you through our EMR and Billing Platform and show you how we can boost your reimbursement to 99.99%!

No Software Fees Ever

U.S. Based Customer Support

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Frequently Asked Questions

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