Reimbursement Issues for Behavioral Health Providers

Starting and operating a behavioral health business can be hard, but it is becoming even harder. With staffing issues no longer being at the forefront of concerns. Other Issues are starting to arise.

New Issues for Behavioral Health Providers

According to a Behavioral Health Business Survey, which included responses from 404 professionals in the behavioral health industry. Almost 50% of behavioral health providers are facing issues when it comes to reimbursements. Staffing is now the second largest issue when it comes to behavioral health services and reimbursements have quickly climbed to the top. Though some say these issues are linked.

Reimbursements affect Staffing

With insurers and companies that payout the reimbursements there more and more push back each year. It is harder than ever for behavioral health businesses to collect these reimbursements in a timely manner at a proper rate and this directly affects staffing. These businesses cannot afford to pay employees and are therefore seeking people that will work for less, however prices for therapy sessions are also increasing causing many laid off staff feeling frustrated and shifting into other industries.

The Impact of Reimbursement Issues

Over half of behavioral health professionals said that reimbursement issues will have the biggest impact on behavioral health businesses than anything else in 2024.

Insurers and payers of the reimbursements are fighting for every way to not pay back as much as they should owe which is significantly hard for behavioral health practices that are trying to grow with minimal cash in the bank. In many cases it can take over a month for the business to get back their reimbursement and about 30% of claims are rejected due to simple errors. This can cause behavioral health practices to lose about 10% of their annual revenue which is very significant.

How we can help?

TheraHire can provide your behavioral health business with all the services it needs to ensure accurate billing and timely reimbursement which can be critical to becoming and staying profitable. With tailored strategies on how to implement the best services for your specific business we can help increase annual revenue by 10% and reduce claim denials with just solving this one issue. Imagine how else we can help your behavioral health services grow.