Steps to Find the Right Behavioral Health Billing Company in Colorado

According to the National Alliance on Mental Illness (NAMI), 1 in 5 adults experience mental illness each year in the United States – with 924,000 adults in Colorado struggling with mental health conditions each year. 242,000 of those adults have a serious mental illness. Colorado has started taking a stronger stance on mental health, which means more people are seeking treatment across the state.

As more people seek treatment for mental health conditions in Colorado, facilities are seeing an increase in their billing departments – requiring more manpower from other departments. To ensure that each patient is handled with the highest level of care, mental health facilities need to look at experienced mental health billing companies to help them navigate the increased workload they face.

Why is Finding the Right Behavioral Health Billing Company Important in Colorado?

The smooth operation of a mental health facility billing department is crucial for Colorado healthcare providers. Finding the right behavioral health billing company that services Colorado facilities is important for maintaining compliance, reimbursement optimization, enhancing efficiency, and enabling providers to focus on delivering the best patient care possible.

Here is why choosing the right behavioral health billing company matters to Colorado facilities:

• Compliance with Local and Federal Regulations: Mental health billing in the United States is governed by a complex set of regulations, including HIPAA (Health Insurance Portability and Accountability Act) and various state-specific laws. Colorado has its own set of regulations governing healthcare services, including mental health. A billing company that is well-versed in these regulations can ensure that your practice remains compliant, avoiding costly fines and legal issues.
• Revenue Optimization: The right billing company can significantly impact your practice’s financial health. By accurately coding services, submitting claims promptly, and diligently following up on denied or partially paid claims, a skilled billing service can maximize your revenue. This financial optimization ensures that mental health practitioners can focus on providing care without the added stress of financial instability.
• Efficiency and Time Savings: Mental health professionals often face heavy workloads, and the administrative burden of billing can be time-consuming. A competent billing company can take over this administrative task, freeing up time for providers to focus on patient care. This efficiency can lead to better patient outcomes and higher satisfaction rates.
• Expertise in Mental Health Billing: Mental health billing has its own set of challenges, including the billing of different therapy sessions, group therapy sessions, and teletherapy sessions. A billing company that specializes in mental health will be familiar with the nuances of billing for these services, including the use of appropriate CPT codes and understanding of insurance companies’ policies on mental health coverage.
• Patient Satisfaction: The billing process can also affect the patient experience. A billing company that handles billing inquiries professionally and efficiently can enhance patient satisfaction. Clear, accurate billing and effective communication can help build trust between patients and providers.
• Adaptability to Change: The healthcare industry, including mental health care, constantly evolves. New billing codes, telehealth regulations, and insurance policies are regularly introduced. A good billing company stays on top of these changes, ensuring that billing practices are always current and compliant.
• Support with Credentialing and Contract Negotiations: Some billing companies offer additional services, such as credentialing with insurance companies and negotiating contract terms. These services can be invaluable for mental health providers looking to expand their network and negotiate better rates with insurers.

Steps to Find a Behavioral Health Billing Company to Partner With in Colorado

Navigating the complex world of behavioral health billing presents a unique challenge in Colorado. Between the high demand for mental health services and the strict regulations, finding a specialized billing company can be a critical tool for success in ensuring compliance and maximizing reimbursements. Here are some steps for finding the right behavioral health billing company to partner with in Colorado:

Step 1: Identify Your Facility Requirements

Dive into your facility’s specific needs, including the number of patients, diversity of services, and particularities of behavioral health billing. This understanding will guide you to a billing company that’s a perfect fit for your facility in Colorado.

Step 2: Confirm Licensing and Accreditation

Behavioral health billing companies in Colorado are held to high standards. Make sure the companies you’re considering possess the necessary licenses and accreditations from recognized organizations such as the Healthcare Billing and Management Association (HBMA) or the American Association of Professional Coders (AAPC).

Step 3: Determine Experience and Competency

Focus on companies with a proven track record in Colorado and beyond, especially those skilled in mental health billing. Evaluate their team’s proficiency in coding, billing, and regulatory compliance to ensure they can manage intricacies and maximize reimbursements efficiently.

Step 4: Examine Technology Compatibility

Look into the company’s technological solutions, especially their ability to integrate with your Electronic Health Records (EHR) system. This integration is crucial for enhancing operational efficiency, ensuring data precision, and maintaining compliance with HIPAA for the protection of patient information.

Step 5: Focus on Transparent Billing Processes

Look for a company that practices transparent billing and offers detailed reporting. Access to clear financial insights allows for better strategic decisions, which is important for facilities in Colorado.

Step 6: Ensure High-Level Customer Service

The importance of clear communication and timely support cannot be overstated. Look for companies that offer direct access to account managers or customer support teams who can quickly resolve issues and safeguard your revenue cycle management.

Step 7: Analyze Contractual Agreements and Costs

Carefully review the terms of the contract, including the fee structure and any potential extra charges. Choose a company that provides clear pricing that fits your facility’s budget and offers flexibility for future growth.

Step 8: Seek Out Peer Feedback and Conduct Research

Request feedback from other behavioral health facilities and colleagues in Colorado on the performance and reliability of the billing companies under consideration. Online reviews and client testimonials can also shed light on their reputation and compatibility with your billing needs in Colorado.

Hansei Makes Behavioral Health Billing Simple in Colorado

Finding the right behavioral health billing company in Colorado requires carefully considering your options and doing your due diligence. The steps above can help you evaluate the necessary information to find a billing partner that aligns with your facility’s needs and goals.

Hansei knows what it takes to keep your mental health facility moving forward in Colorado – taking care of the intricacies of billing procedures so that your providers can do what they love the most: taking care of their patients. If you are looking for a behavioral health billing company to partner with in Colorado, let us help you. We can streamline the billing process, remain in compliance with state and federal regulations, and offer transparency regarding your facility’s billing – schedule a demo with us today.