It’s a Great Time to be in the Addiction Recovery Business
Here is some great information to help you get started in the addiction recovery business.
Because the demand for addiction recovery centers is on the rise, anyone wanting to start a facility or expand a current business should keep some very important details in mind:
- Keep excellent accounting records from the beginning. Should you need to acquire a loan, this information will be required by the lender and any loan could be denied without it. This is where many facilities have gotten into problems, leaving them without the funding needed to continue doing business. Monthly Profit and Loss statements (P/Ls) and Balance Sheets are crucial to your record-keeping
- Set aside two or three months of operating capital so that you can survive any ebbs and flows in the business, especially the beginning of the year when client deductibles haven’t been met yet. These fluctuations are normal for an addiction recovery center and planning for them is critical for maintaining good financial health
- Maintain all records — client, financial, employee, facility, etc. as regulations require
Inspira Knows This Business
Inspira Financial was founded by banking professionals who saw a specific need for better business and billing practices in the addiction recovery industry. The unique needs of recovery centers have never been a priority for most billing companies, so centers are forced into following procedures and using systems that are not suitable for their business.
Our philosophy is to help you run your business more efficiently and WIN through:
- Faster, higher-level authorizations
- Billing for everything you do
- Collecting on everything you bill
- Providing you with better information about your business
What our customers have to say
“In just a month, Inspira was able to collect $300,000 for us in what was previously written off as bad debt.
“VOB time dropped and days in the highest levels of care increased.
“We are collecting more, spending less time on billing, and more time on our core business.”
Chris Pruneda, Managing Director, BLVD
We Help You Focus on What’s Important
Inspira helps you by providing the systems and support you need to start, operate, and grow a successful addiction recovery treatment facility. Other billing companies force their customers to comply with their systems and processes which don’t always meet the unique needs of recovery centers. Inspira specializes in this industry and our systems and team will partner with you so you can bill for everything you do and collect for everything you bill.
You can always find more information here on our website and we invite you to schedule a consultation call with one of our experts. No pressure from us, just a quick conversation about your business and where you’d like to go with it. Find a time that is convenient for you right here.
We’re looking forward to talking with you and seeing how we can help you start strong and grow healthy in this dynamic business.