Why do people get into the addiction and mental health treatment industry?
For the most part it is because they have some sort of connection – either personally or a direct relative or friend that has been afflicted by a devastating behavioral health condition.
You can ask 1,000 CEO’s, Owners, and Program Directors and not one of these industry leaders will tell you the primary reason they felt a calling to help people with addiction or mental health issues was because the revenue potential.
With that said – it takes a community to help addicts get better. A community of highly educated, highly skilled and experienced professionals who are dedicated to the well being of others. In a perfect world these pillars of the treatment community would be able to provide their services at little or no cost, however this is not the case – their highly specialized skill set is in high demand by those in need.
The good news is that insurance carriers have plans and benefits that cover both addiction and mental health treatment – and with the Affordable Care Act, more people then ever have the ability to access these benefits.
There is a simple math equation here that can show how to drastically increase your rehab facility profits – many families have insurance benefits that can pay for a longer stay – with a much more needed step down in continuum of care – than they can afford to simply pay for out of pocket.
Implement strong tracking processes
Learn the language of insurance
Advocate for your patients
Educate your families
To be continued.