Amid financial challenges, health systems are looking for reasons to invest in virtual musculoskeletal services after the Centers for Medicare and Medicaid Services introduced telemedicine billing in March. last year.
Hospital for Special Surgery, an academic medical center based in New York, launched a virtual musculoskeletal physiotherapy company in October 2022. In December, Yale New Haven Health in Connecticut implemented a virtual physiotherapy program with IncludeHealth.
MSU Health Care will use both teletherapy tracking codes and time-based billing codes to be reimbursed for this service. For those without insurance, there will be an option to pay out of pocket.
RecoveryOne CEO Mark Luck Olson said no funds were exchanged between the two organizations for the deal. Instead, the startup will collect a portion of the money MSU receives for each virtual physical therapy visit.
Olson said the CMS billing codes represent a major shift forward for the delivery of virtual physiotherapy services. RecoveryOne has worked with insurance companies like Cigna to cover its services in the past.
“For the first time in my 35 years in healthcare, there is funding for telehealth being included in the reimbursement system,” Olson said. “It doesn’t require a separate contract.”
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