Your contract rehabilitation company has endured quite a bit over the last eighteen months: COVID-19 restrictions, changing reimbursement models, pressures to lower costs, technology challenges and more. The issues very likely reduced profits, necessitated staff changes, increased back-office headaches, and altered your care model.
As healthcare continues to evolve during the pandemic, other changes are taking place that could affect your practice. For example, patients are seeking personalized care that improves their health while also receiving the highest-quality care in a safe environment. A potential switch to outcome-based reimbursements could impact your profits. Increased scrutiny and high denial rates from commercial and public payers could increase your regulatory compliance burden.
An additional factor driving change in rehab services is industry consolidation. While the market is highly fragmented, it remains at an all-time high in terms of interest and valuations. Small companies, in particular, are looking to partner with larger organizations to reduce financial risk, back-office headaches, technology issues, and even marketing costs.
For example, practices that have partnered with Enhance Therapies have greatly reduced their administrative burden while increasing their ability to grow the business, coach their staffs, provide improved service to clients, and provide better outcomes for patients. They have also generated client reimbursements that are $26 higher than national average while delivering superior publicly-reported clinical outcomes, i.e., GG functional scores that are 9% above the national average and rehab-related quality measures that are 13% higher than the national average.
Enhance therapies partners are leveraging the financial, compliance and marketing resources of a large company while maintaining their local focus and individual brand.
Freeing themselves from the administrative burden of managing the business also enables partners to focus on building their business and delivering positive outcomes for patients.
“Enhance has given us all the technical back-office support that our growing and thriving rehab company needed,” says Alex Cohen, Director of Operations at South Pacific Rehab Services. “Our partnership has allowed us to focus on what’s most important – our patient care.”
By aligning with Enhance Therapies, partners add several tools to their toolbox. For example, they receive guidance on legislative trends and compliance issues. They learn best practices in areas of finance, operations, clinical care and expansion-related matters. They also receive assistance with processing claims and appeals, and marketing their business.
“Recent & pending changes in reimbursement, regulatory compliance, patient and provider safety and more make this an ideal time for small practices to partner with Enhance Therapies,” says Doug Ringeisen, Chief Development Officer at Enhance Therapies.
Looking ahead to 2022, the rehabilitation sector will face several challenges: reimbursement pressures, need for increased integration of technology, potential return of COVID-19 restrictions, and changing patient expectations. Enhance Therapies and its partners will be well-positioned to meet the challenges.