Unique reporting and analytics needs for addiction recovery and rehabilitation facilities
Running a behavioral healthcare company can feel like flying an airplane. There are so many things to keep your eye on and you have responsibility for a lot of lives. One distinction, however, is that pilots have a tremendous amount of information which helps them do their jobs.
Managing a substance abuse clinic often means not knowing nearly as much about your business as you’d like. That’s particularly true for your billing and collections. One of Inspira’s customers told us, “When your billing company doesn’t have good reporting, it’s hard to find and fix problems.”
Before we built our reporting and analytic capabilities, Inspira spent a lot of time listening to customers. They told us they need both broad and deep visibility into their business, from individual patient claims to projections of future revenues. They also told us that the reports must answer specific questions behavioral health and recovery centers have. Finally, customers told us they want customized reports they can access online and comparisons to other substance abuse treatment facilities.
Customized Dashboard and KPIs
When you log into your personalized business intelligence site for Revenue Optimization by Inspira, you will see your custom dashboard with dynamic graphs and KPIs (Key Performance Indicators). From there, you can click directly into specific reports to dig deep into areas of interest to you. With data that is refreshed automatically and always at your fingertips, you can access the information you need when you need it.
The dashboard and reports are customizable by role, so different people in your facility can see the view most appropriate for the tasks they are most likely to accomplish. Not only does this streamline workflows for your staff, it provides role-specific insights. That means your team can learn even more about their specialty and areas of interest.
Advanced Reports and Analytics
Any billing company can tell you what you billed and what accounts receivable are still outstanding. Inspira goes beyond these basic reports to allow you to dive into areas that really matter to your business, like forecasting revenues and determining the return on investment (ROI) of your marketing spend.
Some of our advanced reports include:
- Forecasted Revenue Analysis
- Accounts Receivable and Service Line Reports
- Payer-level insights
- CPT-level Reimbursement Analysis
- Denial Management Analytics
- ROI of Marketing Spend
Projecting revenues is something customers are particularly interested in, allowing them to budget more accurately and align expenses to forecasts. Similarly, tying your marketing channels to the revenues which come from those channels provides an immediate opportunity to optimize your marketing dollars.
Competitive comparison and benchmarks
Inspira’s analytics allow you to discover how your rehabilitation facility compares to your competitors in the industry. These comparisons will naturally identify areas for improvement and investment. For instance, if your peers have higher revenue per census than you, it might indicate opportunities to improve your claim capture process. Alternately, if you are weak in net reimbursement by code or length of stay by level of care, it could point to claim submission errors. You might want additional training for staff or clinicians to improve the error rate.
These kind of highly personalized reports are designed to provide insights into your processes and improve your billings. To learn more about analytics and reporting around billing and collections, read our Analytics webpage or contact us with specific questions.