How true. For many individuals and corporations that have dedicated resources of time and money to open, acquire or grow an opioid addiction treatment business there is a growing market demand. Is it a good business to be in? Yes. Is it a growing industry? Yes. Has demand slowed or peaked? No. It is the best of times to serve individuals that have opioid addiction issues.
A Growing Industry
On November 19, the Council of Economic Advisers (CEA) at the White House released an estimate that in 2015, the “economic cost of the opioid crisis was $504 billion, or 2.8% of GDP that year.” This number is dramatically higher than all previous estimates. This estimate comes ahead of the anticipated release in December from the CDC that more than 60,000 Americans died from a drug overdose in 2016. This represents a more than 20% increase over the deaths in 2015, meaning that the economic cost for 2016 will likely be far higher than $504 billion. It is the worst of times for those suffering from opioid addiction.
How do you do it?
So how do you know as a business owner or administrator that the services and programs that you offer are working? How do you keep your doors open when the insurance payers are questioning every claim submission or re-admission for substance use: alcohol or drug? How do you keep up with the new standards mandated by the Joint Commission or state regulators? How do you engage the individuals that you serve and their families to use your services? How do you know that your staff is performing up to the highest level of care standards?
Like every other specialty in healthcare, you and your staff must establish, follow and maintain best practices. Not just before the Joint Commission surveyors are scheduled to do their audit. Not just before the State is scheduled to award you your licenses or renew. No. The time to review your facility’s or agency’s workflow, processes and outcomes is ongoing. Every admission, every session, every service offered, every step down, every discharge or transfer, every day.
What’s the best solution?
Ideally, you want all your staff to be using one technology solution to run your business, both clinically and administratively. If you have multiple vendor software, you may have gaps in your workflow. Having an all-in-one solution can provide the transparency and accountability that keeps the doors open and provides the opportunity to serve more. Make sure that the software follows best practices and does not allow shortcuts. It’s what you don’t know that will cost you. Many times, a business that is doing well gets blindsided by mistakes and the best of times become the worst of times.
At AZZLY® Rize™ we are dedicated to serve those individuals and corporations that want to elevate patient outcomes. Transforming treatment centers, to make a positive difference.