Financial Reporting

Financial Reporting with Synergy Concepts

Synergy Concepts simplifies the insurance management process for you by providing accurate financial reporting of your addiction treatment and behavioral health program’s performance. The report of claims is updated daily and is accessible when you need it.

Track your data

Our reporting is made possible through our advanced technical data system, which is viewable with updated reports of claims status via our enhanced portal. Our team is continuously working to refine and improve the means of providing you the analytics and reports you need to monitor your key performance areas.

Performance Areas Include

  • Verification of benefits
  • Conversion rates
  • Average allowed
  • Paid amount for each insurance carrier at each level of care
  • Current and trending payer mix
  • Census trends
  • Average authorized days at each level of care
  • Revenue tracking and trends

Stay Competitive in Behavioral Health

For a treatment facility to remain in business in today’s competitive world, it is crucial that its management team is aware of the state of its finances at all times. That’s why we give complete and comprehensive financial reporting which is necessary for the well-being of your behavioral health care organization.

Monitoring and managing a facility’s revenue can often be tedious, complex, and time-consuming. This is why we will take that headache off your hands.

Behavioral Health medical financial reporting can provide insight into how a treatment facility is performing on measures such as the number of insurance claims awaiting payment, and how often and well your business is reimbursed by various insurance companies.

Let Us Improve Your Financial Reporting

Synergy Concepts financial reporting specialists make it simple for your practice by providing customized financial reports. We deliver the most relevant and important information directly to you.

We offer a number of different customizable financial reports and key performance indicators.

  • Accounts Receivable Reports: Monthly A/R reports detail how old open claims are – by patient and insurance company.
  • Balance Report: These monthly reports are a line-by-line account of open insurance claims, including helpful information regarding your facility’s average reimbursement based on insurance type and level of care.
  • Practice Analysis: A pie chart of services rendered, this monthly report identifies where you’re spending most of your time.
  • Billing Report: A weekly report of insurance claims billed the previous week and status of each outstanding claim. Billing reports offer total transparency to behavioral health facilities on where the money is going.
  • Negotiations Report: Case by case rate negotiations including monthly and yearly comprehensive cost analysis reports focused on trending data generated through higher payments obtained through negotiations from insurance companies, including MCR2 reimbursement rates, and third party pricing companies.

Financial reports are key to helping behavioral health medical care providers understand the health of their business operations. Connect with us to discuss ways to improve your financial reporting.