As 2024 comes to a close, we at Raven Health are reflecting on a year of unprecedented growth and achievement. This year, we’ve had the honor of supporting ABA clinics across the country with our all-in-one platform, empowering them to deliver exceptional care while streamlining their daily operations.
“We are deeply grateful for the trust that new and growing ABA clinics place in Raven’s all-in-one platform. From creating client programming and collecting session data to billing for sessions and beyond, it’s our mission to provide not only a reliable product but also a best-in-class user experience. This is a tremendous responsibility, and we are dedicated to meeting it with excellence every single day,” said Richard Wagner, CEO of Raven Health.
Session and Data Collection Growth
This year, Raven has seen remarkable growth in session and data collection. Since January, our platform has achieved a 147% increase in accounts and an astonishing 474% growth in session totals. This growth isn’t just about numbers; it’s about impact. The additional sessions mean we are enabling ABA clinics to deliver significantly more clinical care than at the start of the year, a milestone we are incredibly proud of.
Transforming Billing Operations
2024 marked the launch of Raven 360, which includes our renowned billing features, introduced in April of this year. Since launching, its adoption has skyrocketed. Our managed billing team brings over 75 years of combined billing experience to the table. This expertise allows us to bill and collect more efficiently, saving valuable time for clinic owners and enabling them to focus on providing critical care to children.
On average, we nearly tripled our customer claim volume every month since launching the product earlier in the year. By the end of the year, claims sent and processed through our partner clearinghouse have grown by 192% month over month. Raven’s billing platform has empowered clinics with a powerful tool to simplify and optimize their financial workflows.
Two of our managed billing clients illustrate the power of our solution:
Practice #1: This clinic achieved a remarkable collection rate of 98.8% and an average days-to-pay of just 10.3 days.
Practice #2: This clinic achieved an astounding 99.99% collection rate and an average days-to-pay of only 7.1 days.
These results highlight how our platform not only supports billing accuracy but also accelerates revenue collection, allowing clinics to focus on their core mission of delivering care.
Looking Ahead
This year’s growth is a testament to the trust our clients place in us and the dedication of the Raven Health team. As we move into 2025, we remain committed to innovation and excellence, ensuring that ABA clinics have the tools they need to thrive. To newer practices interested in learning more, feel free to sign up for a free 30-day trial to experience Raven’s benefits firsthand. And to our current clients, thank you for being part of this incredible journey—we can’t wait to see what we accomplish together next year!
Starting your own Applied Behavior Analysis (ABA) therapy clinic is an exciting venture for any Board Certified Behavior Analyst (BCBA). However, the journey involves a number of critical steps, particularly when it comes to dealing with healthcare payors. Entering into contracts with healthcare payors is essential for ensuring your clinic can serve a wide range of clients, enter into and remain in network with payors, and secure financial stability for your clinic. This blog post will guide you through the necessary steps to successfully contract with healthcare payors and highlight strategies to expedite the process.
Understanding the Contracting Process
The process of entering into a contract with a healthcare payor can be intricate and time-consuming, often taking several months to complete. Here are the key steps involved:
Credentialing and Enrollment
Credentialing: This is the first step where the payor verifies your qualifications (including licensing), experience, background, and legitimacy to provide healthcare services. This process can take anywhere from 90 to 120 days.
Enrollment: Once credentialing is approved, you proceed to enrollment, which involves getting set up in the payor’s system to submit claims and receive payments.
Application Submission: Prepare and submit a detailed application to each healthcare payor you wish to contract with. This application should include all required documentation, such as your credentials, licensing information, proof of insurance, and a detailed description of your clinic’s services.
Contract Negotiation : Upon accepting your application, the payor will typically send a proposed contract for your review. This stage involves negotiating the terms, including rates, services covered, and other operational details.
Contract Execution: After negotiations, both parties will sign the contract, finalizing the agreement. Only after this step will you be able to bill the insurance for covered ABA services.
Tips To Expedite The Process
While the process is generally lengthy, there are several strategies you can employ to speed it up:
Prepare Comprehensive Documentation: Before you start the application process, gather all necessary documents and ensure they are accurate and complete. This reduces the likelihood of delays due to missing or incorrect information.
Understand Specific Payor Requirements: Each healthcare payor may have different requirements. Familiarize yourself with these specifics to ensure your application meets all their criteria.
Follow Up Regularly: After submitting your application, regularly follow up with the payor. This keeps your application on their radar and helps push the process along.
Seek Expert Help: Consider hiring a consultant or using a credentialing service familiar with the healthcare payor’s processes. They can provide invaluable assistance and potentially speed up the process. They can also be particularly helpful in negotiating better rates, which are critical for stabilizing your clinic’s early financial history.
Leverage Technology: Utilize electronic submission methods if available, as they are typically faster than paper-based submissions.
Setting Realistic Expectations
It’s important to set realistic expectations about the timeframe for securing contracts with healthcare payors. The entire process, from credentialing to contract execution, can take anywhere from six months to a year. Planning for this time is crucial to avoid financial strain during the early stages of your clinic.
Conclusion
Securing contracts with healthcare payors is a crucial step for any new ABA therapy clinic. While the process is complex and can be lengthy, understanding the steps involved and employing strategies to expedite the process can make a significant difference. With patience, persistence, and careful preparation, you can successfully navigate this journey and set your clinic up for success.
