The Perfect Balance Between Financial Health and Patient Services
Tackling Two Crisis Points Simultaneously
In September 2017, the Health Resources and Services Administration (HRSA) released more than $200 million to encourage healthcare providers to tackle the opioid crisis head-on. This financial incentive to improve access to treatment and recovery services include funding for providers expanding or implementing new telemedicine offerings.
Telemedicine is one of the most promising new revenue streams in behavioral health. Mental health telemedicine services allow patients and support coaches, psychiatrists, and therapists to connect 24/7, at a moments notice. Plus, it gives providers an
opportunity to collectively address opioid abuse and improve facility financial health at the same time.
The challenge for most small treatment centers and start-ups looking to add another revenue stream is that they often do not have the support staff necessary to handle increased billing and claims management activity that comes with adding a new revenue source. Smaller organizations, with limited human resources and technology, often find outsourcing provides greater financial control than keeping billing and collections in-house.
Is Outsourcing Right For Your Facility?
As mental healthcare professionals across the country look for opportunities to offer on-demand services, there seems to be a consensus among consulting firms that finding the ideal revenue cycle management (RCM) technology partner strengthens financial control and provides measurable improvement in patient outcomes. With a fully-customizable treatment center Electronic Health Record (EHR) and RCM package, addiction treatment centers who choose outsourcing maintain total financial control from the first touch point through final discharge, and position themselves to finally tackle the complexities of prior authorization requirements. Automation has the potential to unlock the chains keeping you from maximizing the revenue stream.
Maximizing Potential in the Mental Healthcare Environment
Of course, reorganizing the revenue stream is important, but it’s not the only goal for most treatment centers. Behavioral Health providers are looking for population management and decision making tools. They need access to analytics to get to know their patients better and measure outcomes more effectively. Many are forging ahead to close the financial experience gap for their patients. And, they want to fully utilize their EMR/EHR, to reduce inefficiencies and improve communication, both laudable goals that will improve financial health.
Telemedicine is already improving patient access and service delivery for addiction treatment centers. Beyond that, total control is yours with the AZZLY® Rize™ solution. Improve workflow. Strengthen patient relationships. Tackle compliance issues. Optimize the revenue stream. And, access the back office to gather population management and patient experience data. Watch our demo for more details.
