Description:

Shrinking profit margins seem to be a common trend among behavioral health provider organizations. The questions for management teams is why are margins shrinking - and what should be done about it? Join us for a day with OPEN MINDS consulting team to examine the common management situations contributing to declining contract and organizational profitability - and common solutions. The seminar will look at contract revenue maximization; service line and contract profitability management; and organizational revenue diversification from a strategic and tactical perspective. This intensive one-day seminar will combine didactic presentation, case examples, and participant discussion of this critical management issue.

Contact Hours: 6.0

What you will learn:

• Understand the trends in the behavioral health field that contribute to declining margins and organizational profitability
• Explore revenue maximization options for a better understanding of whether they will provide a return for your organization
• Identify how to develop contract management strategies based on service line and contract profitability analysis
• Review the issue of revenue diversification and the range of alternates for increasing the range of revenue options

Who should attend?

• Chief executive officers
• Chief financial officers
• Financial & accounting managers
• Clinical program directors
• Members of boards of directors

Event Agenda

Registration 8:00 AM

Session 1

The Evolving Behavioral Health World: Trends Affecting Organizational Revenue & Margins

• The Evolving Treatment & Payment Paradigm
• Key Factors In The Behavioral Health Market
• The Three Keys For Revenue Diagnostics – Current Contract Revenue Maximization, Contract Profitability Management, & Revenue Diversification

Session 2

Assessing Your Yield On Current Contracts & Developing Revenue Maximization Strategies

• A Step-by-Step Approach To Assessing Your Financial Yield From Current Contracts
• Examples Of Areas For Improving Revenue Maximization
• Revenue Maximization Strategies

Session 3

Analyzing Your Organization’s Profitability By Service Line & By Contract

• Understanding How To Use Organizational Portfolio Mapping & Service Line Analysis To Develop Profitability Improvement Strategies
• Examples Of Service Line Profitability Analysis & Contract Profitability Analysis
• Developing Strategies For Improving Contract Profitability

Session 4

Strategic Revenue Diversification: What Are The Options & How Do You Decide What Options To Pursue?

• Is Diversification The Answer?
• Overview Of Funding Sources For Behavioral Health & Social Services Organizations
• Deciding On A Focus: The Process Of Selecting A Revenue Diversification Strategy

Event Dates