Behavioral healthcare billing is a complicated but integral process for recovery centers. Getting paid in a timely manner is essential for most providers, but it can be one of the most difficult things to make happen in practice.
Providers are constantly battling with insurance companies for reimbursement. Their billing departments request, record, verify and deliver patient information via dozens of emails, numerous phone calls, and a lot of time-consuming spreadsheet entries. Even after all of this manual tracking and sharing of information, claims are being held up; and before you know it, receivables are out of control.
Coming from the substance abuse billing industry, we understand the unique challenges billing departments face—we’ve had the same sleepless nights worrying about lost revenue, lack of transparency, and little to no accountability. We knew there must be a better way to manage addiction recovery claims, but we couldn’t find a software platform specifically engineered for the unique needs of treatment centers that provide these services—so we built one!
Here is how Avea can provide you with a better way.
1. Avea tracks revenue issues so they can be fixed before they become problems.
Insurance companies generally run on a 30-day payout cycle, meaning that if there are no issues with a claim, treatment centers should see a check a month after submitting. However, if you’re utilizing manual systems as most providers are, it can take insurance companies much longer to release your check. One small data-entry error, and your reimbursement could be held up for another 30 or 60 days, and you may not even be aware the claim has been rejected. Not only that, but a single manual transaction costs $4.40 more than an automated transaction, and five additional minutes of a provider’s time.
Avea takes these old manual systems, cuts them down, and streamlines the entire process. Using a single cloud-based comprehensive revenue management platform will improve operational efficiency while providing transparency for management and owners. When you don’t know where your money is, how can you possibly make smart decisions on where to put it?
2. Avea offers real-time analytics and reporting.
There aren’t many facilities with the ability to access the data needed for making informed decisions. Using a platform that provides real-time, on-demand access to basic trends in payment allows providers to understand why claims aren’t getting paid with just the click of a button.
Furthermore, having all of your information in one place empowers you to make informed decisions that will improve operational efficiency, maximize revenue, and provide the performance and transparency your treatment center clients expect. Utilizing an integrated system like AveaOffice turns documentation into dollars for your treatment center. The latest CAQH Index Report shows that automating claims-related transactions could save healthcare providers in the US over $11 billion annually.
We’ve been where you are, and we feel your pain. Avea has solved a unique set of challenges for the addiction recovery billing industry by providing a platform that helps increase both productivity and profitability for your center. See for yourself how Avea provides a better way.
To schedule a free revenue assessment, contact us today!