If you have been surfing Google lately, you may come to realize that many treatment centers are closing down and simply going bankrupt. Insurance today is a confusing industry for a lot of people. In the past, insurance companies almost always paid out on your claims. Today, ICD-10 is in effect and treatment centers are finding it harder and harder to turn a profit. Today, there is no guarantee that you are going to get paid for treating a patient once they are at your facility. Many treatment centers are finding out that they cannot get paid on services that they used to offer in 2015.
In 2016, it will be a lot harder to turn a profit. It is not uncommon for treatment centers to receive checks for only $5.000 when they have treated a person for a 20 day stay in their facility. Your check was supposed to be for $15,000 and instead you got one for $5,000. Yes, you are feeling the pain like many treatment centers are today. How can you combat this though? What must you do in order to turn your business around?
If you own a treatment center, you might agree that having your own treatment center is challenging. Many people say that the insurance companies are wrong for doing audits. They see it as unfair. Many treatment centers are having to wait up to 90 days or longer to see their reimbursements. Often, they would see big checks for $10,000 or more. Today, many insurance companies are paying out far less than that. The shakeup seems to only be getting tougher. The main thing is that you are going to have to make your business 100% legal and ethical.
Today, marketing is king when it comes to getting good clients. Your treatment center must have a good reputation. Many people will come to your treatment center because of someone else that had gone to your facility. If you want to be successful, everyone in the industry must respect you as well. Before dumping lots of money into a fancy 5 star facility, make sure that you have enough money to market your business. It is estimated that a pay per click campaign can cost as much as $150,000 a month for a 30 bed facility. You will spend roughly $5,000 to recruit just one client with good enough insurance to come to your facility. If you want to run television ads, it will cost even more. You also need to pay field marketers that work in the streets knocking on doors for you. It is important to have an entire team working for your success.
It is important to not let the new rules and regulations get you down. In reality, you can have good profits in your treatment center if you plan ahead accordingly. For starters, don't keep in house billers if they are not ICD-10 coding experts. You will fail at getting your claims back in time. Most coders today don't get their treatment centers paid on time. This often leaves business owners angry and frustrated.
Having knowledge today matters. If your claims are not 100% correct, you will see a high rejection from the insurance companies. Many insurance companies are tired of seeing careless billing. You may not receive payment on your claim even though you have submitted it 5 times. You will get no leniency from the insurance companies. Today, insurance companies are expecting you to do your billing correctly. If you can't do it correctly, then outsource it to someone that can.
In 2016, it will be a lot harder to turn a profit. It is not uncommon for treatment centers to receive checks for only $5.000 when they have treated a person for a 20 day stay in their facility. Your check was supposed to be for $15,000 and instead you got one for $5,000. Yes, you are feeling the pain like many treatment centers are today. How can you combat this though? What must you do in order to turn your business around?
If you own a treatment center, you might agree that having your own treatment center is challenging. Many people say that the insurance companies are wrong for doing audits. They see it as unfair. Many treatment centers are having to wait up to 90 days or longer to see their reimbursements. Often, they would see big checks for $10,000 or more. Today, many insurance companies are paying out far less than that. The shakeup seems to only be getting tougher. The main thing is that you are going to have to make your business 100% legal and ethical.
Today, marketing is king when it comes to getting good clients. Your treatment center must have a good reputation. Many people will come to your treatment center because of someone else that had gone to your facility. If you want to be successful, everyone in the industry must respect you as well. Before dumping lots of money into a fancy 5 star facility, make sure that you have enough money to market your business. It is estimated that a pay per click campaign can cost as much as $150,000 a month for a 30 bed facility. You will spend roughly $5,000 to recruit just one client with good enough insurance to come to your facility. If you want to run television ads, it will cost even more. You also need to pay field marketers that work in the streets knocking on doors for you. It is important to have an entire team working for your success.
It is important to not let the new rules and regulations get you down. In reality, you can have good profits in your treatment center if you plan ahead accordingly. For starters, don't keep in house billers if they are not ICD-10 coding experts. You will fail at getting your claims back in time. Most coders today don't get their treatment centers paid on time. This often leaves business owners angry and frustrated.
Having knowledge today matters. If your claims are not 100% correct, you will see a high rejection from the insurance companies. Many insurance companies are tired of seeing careless billing. You may not receive payment on your claim even though you have submitted it 5 times. You will get no leniency from the insurance companies. Today, insurance companies are expecting you to do your billing correctly. If you can't do it correctly, then outsource it to someone that can.
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We are one of the top drug rehab centers in the world today. There are hundreds of drug and alcohol treatment centers that you can choose from. We offer an inpatient and outpatient program for our clients. Drug treatment centers offer you a way to get drug free. When you go to an inpatient program, you get to spend time with yourself. Discovering why you have become addicted in the first place is good for recovery.
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