The four cornerstones to a successful SUD treatment facility
Traditionally, SUD treatment centers have relied on healthcare insurance programs , but in an ever- evolving industry, we are seeing that this model is no longer sustainable due to increased costs and claims restrictions. The following four cornerstones reveal what SUD treatment providers must focus on to achieve a successful, sustainable business model.
1. Financial success (New revenue streams): In response to the increasing demands of healthcare insurances and rates lagging behind the inflation of operating costs, traditional SUD treatment business models no longer suffice to achieve financial success. Additional revenue streams must be developed and providers must be savvy to the latest treatment program trends.
2. Clinical efficacy (As measured through outcome surveys): Most providers now use tools to measure treatment efficacy and meet compliance standards. However, using these tools effectively requires more than just reviewing a monthly report. Implementing quality outcome surveys that integrate into and support clients’ individual treatment plans requires customization and structured aftercare support (long-term success is a key component of any SUD treatment program’s performance assessment).
3. Marketing success (In-house is best): Competition is fierce. Marketing costs range from 15% to 22% of gross revenue. Developing a marketing strategy that is based on your business’ own resources (in- house marketing) is better in both the short term (better cost control) and long term (increased business valuation) than relying on expensive third party marketers.
4. Readiness to implement new treatment strategies (Always evolving): SUD treatment is evolving every day: new substances create new challenges and new treatment approaches (e.g., Fentanyl & MAT treatment) providers must implement in stride in order to provide comprehensive care. Additionally, third-party payors are lobbying for long term results to become an integrated part of providers’ services, although, to this day, there aren’t specific billing codes covering this aspect of treatment, leaving providers to carry the financial burden of an extensive additional service.
Is there a tool that can help you develop these four cornerstones of success?
Yes: Seed4Success!
Such a tool – like any additional service – is an added cost. Does this defeat its core purpose?
No! In addition to generating additional revenues, Seed4Success pays for itself within 6 months guaranteed.
How does Seed4Success help establish the four cornerstones of success?
1. Seed4Success helps you achieve financial success in various areas: we facilitate access to grants and donations, we help increase claim reimbursement rates, and utilization reviews are extended through strategic program adjustments that meet medical necessity requirements.
2. Seed4Success’ outcome survey plans are tailored to each provider’s specific program and include aftercare monitoring and support.
3. In-house marketing yields the best results. To enhance provider’s marketing reach and efficacy, Seed4Success’ unique incentive program rewards alumni and outreach teams for their role in clients’ treatment success. While motivating the outreach team is key to a treatment center’s success, most compensation tactics are categorized as kickbacks, which are both illegal and unethical. Seed4Success helps providers avoid these dangers by creating a compensation package that is not based on how many clients are brought in, but how team members help them achieve their treatment goals.
4. While the concept of medical necessity remains key to treatment, providers must evolve to meet new challenges and optimize resources for clients’ outcomes. Seed4Success’ analytic module (called business intelligence) enables providers to develop and implement programs that produce enhanced efficacies coupled with substantial cost savings without reducing providers’ revenue.
What makes Seed4Success unique?
Many of Seed4Success’ components are not unique (e.g., clinical outcomes measured through common tests). However, the way we link these components to improving providers’ clinical and financial performance is proprietary and unique.
At Seed4Success, we customize outcome survey plans, we create as many tracks as needed to assess current or new modalities, we integrate demographic data with financial and clinical data to produce reports covering both the facility and the individual. These reports empower providers and clients to achieve success in the tight healthcare financial environment.
How can you get started with Seed4Success?
The first step is to schedule a free assessment with us where we will determine your business' needs and goals. Call (310)-467-7536 to schedule an assessment today.
Are Seed4Success claims guaranteed?
Yes, our guarantees are integrated into our agreements with providers.
For more information…
Fill out the contact form at Seed4Success.com and we will help you schedule your free consultation!