Audit, Consulting, and Tax for Behavioral Healthcare Organizations and Certified Community Behavioral Health Clinics (CCBHCs)
AAFCPAs has a deep understanding of the unique challenges and requirements of the behavioral health industry, as well as a commitment to delivering high-quality, ethical services.
We are intimately familiar with behavioral health regulations & standards, terminology, funding & revenue cycle management, clinical documentation, risk factors, quality improvement processes, the various IT systems (payroll, medical records, general ledger), and onerous reporting requirements.
We are also familiar with the Key Business Questions central to growth and profitability strategies, as well as the correlating Key Performance Indicators (KPIs) that help inform decision making.
We provide clients with a deep bench of expertise offering specialized consulting & reimbursement solutions, as well as meaningful financial reporting, tax planning & compliance.
How may we help you?
AAFCPAs has provided CPA and advisory solutions to multi-service behavioral health organizations throughout the United States for over 50 years.
We have comprehensive experience with audits in accordance with Uniform Guidance / Single Audits, Financial Accounting Standard Board Requirements, state-specific financial reports, as well as organizations with employee benefit plans subject to ERISA compliance requirements.
We have expertise with the policies, procedures, and regulations related to healthcare accounting and financial requirements at all levels, including the U.S. Department of Health and Human Services (HHS), Centers for Medicare and Medicaid Services (CMS), state Departments of Public Health, and other state grant management agencies.
Client Accounting; CFO/Controller Advisory
AAFCPAs provides a full range of outsourced accounting and advisory services to behavioral health organizations and CCBHCs, including high level Controller and CFO solutions. These include financial statements, comparative reporting, budgeting, financial strategy & modeling, and market analysis. We help management make informed decisions about resource allocation and strategic planning.
We are fully equipped to assume an impactful role in exploring and implementing means of managing and improving the financial performance of your organization. We may also assist with the oversight of internal controls, all areas of receivables management, standards implementation, and other systems and procedures to achieve efficiencies in your business office.
Our extensive experience serving behavioral health organizations allows our staff to provide the types of industry-specific business insights our clients need.
Business Process & IT Consulting
AAFCPAs’ integrated Business Process & IT Consulting practice provides Productivity Improvement, Business Intelligence, and IT & Cyber Security solutions.
Process Improvement & Systems Integrations
We advise behavioral health organizations and CCBHCs on improving revenue cycle processes and optimizing IT systems. We provide operational process reviews and robotic process automation solutions related to billing and collection, accounts receivable management, reserve analysis, fee schedule analysis, business process improvement, and recommendations for implementing denial management processes.
Data Analysis and Modeling
We help clients transform data into actionable insights. We leverage specialized skills, state-of-the-art technologies, and proven methodologies to extract, inspect, cleanse, and model data in order to discover meaningful information that supports better decision making.
We help behavioral health organizations and CCBHCs protect their patients’ personally identifiable information! We help identify risks that could potentially cause information loss or financial or reputational harm. Our solutions include IT & Cyber Security Assessments, Vulnerability Management as a Service (VMaaS), and HIPAA compliance certifications.
Learn more about AAFCPAs’ Business Process & IT Advisory Solutions.>>
Revenue Cycle Management Services
In addition to financial reporting and tax expertise, AAFCPAs provides specialized advisory services for behavioral health organizations and CCBHCs to optimize reimbursements, including:
Revenue Cycle Assessments
AAFCPAs performs internal control reviews of the revenue cycle operation to help clients capture more revenue. This involves assessing the controls and procedures from the front end through the back, and all the various layers in between in the collection of accounts receivable. We perform analysis of your insurance verification process, authorization & re-authorization process, timing of billing, and collection follow-up. We take an objective and subjective look at your people, process, and technology and make pragmatic and best practice recommendations in areas where behavioral health organizations may increase reimbursement and improve revenue cycle management efficiency.
Fee Structure Analysis
We review current fee structures to determine adequacy of rates charged and make rate setting recommendations to ensure optimal reimbursement.
Tracking and Monitoring Risk Based Contracts
AAFCPAs works with behavioral health and CCBHCs to develop tracking and monitoring systems for risk-based contracts. This involves determining the costs for providing the services to be covered under the contract. In addition, we also help to develop a system to monitor the services being provided and costs involved. The profit/loss on these contracts needs to be determined as well as how much is attributable to the organization. We consult on the level of reserves that are necessary for these contracts, and the accounting and financial reporting requirements.
Medicaid and Medicare Cost Reporting
AAFCPAs has extensive cost reporting and reimbursement experience with both cost-based and Prospective Payment System (PPS) providers. We understand the importance cost reports hold for behavioral health organizations. We provide guidance to ensure accurate completion, insight into the key objectives of the report, and critical areas of scrutiny of your disclosures. We frequently present training sessions on best practices for minimizing the effort necessary to prepare, while maximizing reporting to properly reflect your true cost of care and maximize reimbursements.
Denials Prevention and Management
Most denials are caused by inefficient processes and can be prevented. Denials can be caused by internal issues, technology issues, or billing complications from third party payors. Interpreting the billing and coding requirements of a variety of payors can be challenging. AAFCPAs identifies opportunities to minimize denials and increase reimbursement. This includes identifying the causes for the denials and common themes. If the denials are caused by internal factors, we can provide training to prevent the denials from reoccurring. If the denials are caused by external payor issues, we work with clients to develop an action plan to address these with the insurance companies. We utilize our Data Analytics team as well as advanced, data mining software as appropriate to enhance our abilities to evaluate vast amounts of data found within complex, disparate information systems.
Dashboarding & KPIs
AAFCPAs is familiar with the Key Business Questions central to growth and profitability strategies, as well as the correlating Key Performance Indicators (KPIs) that help inform decision making.
We help behavioral health organizations and CCBHCs monitor the health of their revenue cycle with data analysis and visualization. This includes guidance on the appropriate metrics, or key performance indicators (KPIs), that inform your decision making. Our in-house data analysts work with your team to extract, inspect, cleanse, and model data to monitor real time the health of your revenue cycle operations.
Healthcare Consolidation & Coordination of Care
AAFCPAs has witnessed dramatic changes in the healthcare industry, including the current consolidation landscape and integration of behavioral health into the primary care delivery system. Our specialists are well-prepared to advise clients on forging innovative partnerships or consolidations that will improve the quality of care and clinical outcomes while controlling costs. We help clients to perform well-executed integrations that optimize both outcomes and profitability. This includes:
- Vetting potential healthcare partnering arrangements, including comparative analysis of competition, cost structures & payment methods, practice patterns, quality of care, and clinical outcomes.
- Guidance on changes in reimbursement and regulatory frameworks and the increased proliferation of high-deductible health insurance plans.
- Analysis of Accounts Receivable & Third-Party Reimbursement.
- Optimizing ROI on technological investments and aligning business process controls with performance objectives.
- Guidance on improving processes and leveraging systems to streamline reporting and compliance requirements.
- Development of tracking and monitoring systems for risk-based contracts. This involves determining the costs for providing the services to be covered under the contract. In addition, we also help to develop a system to monitor the services being provided and costs involved. The profit/loss on these contracts needs to be determined as well as how much is attributable to the organization. We consult on the level of reserves that are necessary for these contracts, and the accounting and financial reporting requirements.
Tax & Tax Credit Transactions
We are instrumental in helping behavioral health organizations fund new capital initiatives with various tax credit programs. Our comprehensive knowledge of all new, existing, and changing applicable tax credits includes New Markets tax credits, federal and state Historic Rehabilitation tax credits, tax credit exchange, tax credit assistance programs, and credits for use of alternative energy sources.
We also assist tax exempt organizations like behavioral health organizations in optimizing the presentation for your Forms 990 to donors and the public.
What our clients say…
“In addition to audit, we have effectively utilized AAFCPAs’ complementary solutions, such as: tax compliance and consulting, setting up a new entity, employee benefit plan audit, IT cyber-security, IT financial system selection, UFR, navigating changes in the healthcare reimbursement model, and others. There is good coordination amongst the different practice areas and the knowledge they have of CHD is shared effectively. I highly recommend the services of AAFCPAs.”
Amale Neary, CFO, Center for Human Development, Inc. (CHD)