Finding Hope in Troubled Times

There are times that it seems that hope is gone for your treatment center because revenue is not there, admission numbers are dropping, and morale is at an all-time low. This results in utility bill payments being missed, your workers not being paid every two weeks as scheduled, and an overall feeling of defeat that bleeds into the treatment being given out.

It’s an understatement to say that managing cash flow in a behavioral health business is a challenge. Treatment center owners deal with the constant struggle of balancing revenue, treating clients, patient satisfaction, employees, billing, and so much more on a daily basis. It is impossible to balance all of this alone without losing focus on key areas. In trying to go it alone, costly mistakes are likely. Those oversights could be costing your facility hundreds of thousands per month in lost revenue. It makes sense to outsource those critical functions, such as collecting patient responsibility, to a specialist with the knowledge, skill, and expertise to do a better job as revenues will increase while freeing up your staff to focus on it’s core mission of treating patients.

Managing immediate cash flow needs is only one piece of the puzzle. There are the necessities around managing liability compliance and long-term patient satisfaction that drive future referrals. Many programs find themselves plugging one hole in the boat just to see another spring up two feet away. Owners and staff can feel like they’re in Quick Sand, sinking deeper while trying to stay on top of it all.

The reality is, you cannot focus 100 percent of your attention on just clients, or just revenue, or just compliance. You have to find the balance that not only keeps the lights on, but maintains its focus on providing top-notch patient care.

Hope Is Found

Programs and treatment centers like Destination Hope have found just that.

Destination Hope has been saving lives and healing families from their battles with addiction and mental health disorders using proven, gender-specific treatments in a welcoming and compassionate environment since 2006 in Fort Lauderdale, Florida.

They, like many others, are a center that has felt the strain that a lack of revenue causes. Insurance companies continue to cut reimbursements while competition between centers remains as strong as ever.

When faced with their toughest days, the management team and owner of Destination Hope took a chance and reached out for guidance to professionals in the area of collections and compliance with The Revenue Solution.

“The Revenue Solution has been a godsend for us,” Destination Hope Director of Business Development Jim Magner said. “Turning to them kept the lights on for us.”

As Destination Hope turned to The Revenue Solution, they handed over much of the stress of operating a profitable facility and were able to turn their attention more toward the treatment side of the business.

How The Revenue Solution Helped

Since beginning their work together, The Revenue Solution’s impact on Destination Hope can be felt throughout the center. In taking over all collections, The Revenue Solution has collected an average of $50,000 per month for the company, multiplying their internal patient responsibility collections by five times.

In the first half month alone, The Revenue Solution brought in between $30,000 and $40,000 in revenue!

Using the same marketing spend, Destination Hope has seen their admissions increase by 25 percent with the support of The Revenue Solution.

“The Revenue Solution handles all of our collections,” Magner said. “We have a small, three-team call center and a small marketing budget. What The Revenue Solution has done by bringing in an average of $50,000 per month for us has allowed us to infuse that money into our marketing efforts and increasing our census, increasing our stability. It has really kept us open and allowed us to operate effectively.”

The Revenue Solution has also addressed the issue of patients leaving against medical advice that Destination Hope was running into. Their AMA rate has dropped by an astounding 50 percent by following The Revenue Solution’s guidance combined with internal initiatives at Destination Hope!

By being upfront with potential patients and their families, The Revenue Solution has found success. Clarity about costs from the beginning of the treatment process gives families and patients a feeling of security and comfort throughout the process. The Revenue Solution does this by providing training and guidance to the admissions staff about how to answer questions on the phone and how to explain programs accurately before admission.

Building Your Reputation

The Revenue Solution has, over time, perfected its call strategy that leaves patients and families happy and willing to work with them—all of this while staying compassionate and understanding, in what is always a delicate situation.

It is a common fear in behavioral health to believe that by asking for money, a competitive edge will be lost and clients will be driven away from your center, but the team at The Revenue Solution has consistently seen the exact opposite, as Magner attests to.

“What we've found is, I haven't seen a drop in the census because of that (asking for patient responsibility),” Magner said. “I haven't gotten any reports from clients saying, ‘I was gonna come in, but The Revenue Solution told me I had to pay $5,000, so I went somewhere else.’ Actually, our census has gone up.”

“I believe this is due to the fact that parents appreciate the truth more than what people think they want to hear,” Magner said. “It is a cleaner approach to admissions and collections. If you are up front and honest, it seems to go a lot further.”

Insurance providers have put treatment centers on review, refusing to pay claims until they can demonstrate they are collecting and not waiving patient financial responsibilities. The Revenue Solution does not simply collect patient responsibility, they also document any and all collection attempts in the center’s EMR or CRM to maintain compliance and keep them in good standing with insurance companies. Thus their clients do not lose sleep worrying about payments being halted or clawed-back.

In documentation within each client's EMR file, The Revenue Solution notates completed collections, follow-ups, and documents the reasons stated from clients who are not able to pay their full responsibility, a compliance requirement that ensures insurance companies will not be able to claw-back any revenue at a future date.

By bringing in The Revenue Solution you are getting a leg up on the competition as others are stuck in a holding pattern, hoping insurance reimbursements will rise instead of proactively looking for other ways to drive growth.

The past year has been difficult for all businesses as, together, we navigate a pandemic. The treatment industry is not immune with high PPE costs, social distancing guidelines, and staffing shortages. If your center was already struggling, these added costs and hurdles could prove fatal, but there is still time to fight for your facility and the patients you serve.

“2020 has been a strenuous year for us,” Magner said. "The Revenue Solution has been a lifesaver. The Revenue Solution has helped keep the lights on for us, and we're grateful for what they've done. We couldn't have gotten through this year without their help."

How The Revenue Solution Helped

With decades of combined experience, the team at The Revenue Solution is ready to pump life back in your treatment facility. The balance of keeping your treatment center running and profitable is not easy, and that is why The Revenue Solution exists—to provide expertise in increasing revenue and patient satisfaction while building a reputation for you as a trusted and compliant center.

It is important to make changes now, to avoid being another treatment center that shutters it’s doors while sitting around waiting for insurance reimbursements to increase.

Contact The Revenue Solution now by phone at 844-314-8867 email to learn how you can use their services to get your treatment center moving in the right direction!