Tips to Help Improve Your DME Billing in This Period of Crisis

In the DME medical billing market, healthcare providers, practices have somewhat maintained fairly sized profit margins until now. However today in this period of crisis, healthcare providers are experiencing not only a reduction in their profit margin but also delayed reimbursements.

In fact, apart from experiencing difficulty with their DME billing margins in this pandemic crisis, healthcare practices had seen encountering many problems too like:

• Delayed in reimbursement – the rate of the file claims that are both accurate, reliable and completed in agreement with payer stipulations to optimize reimbursement has not only been affected in this crisis due to lack of inexperience billers and coders but also, in-house staffs are seen juggling in between the demands of treating patients, handling billing issues and even coping to the new platform of telemedicine/ telehealth platform. Thus with lesser experience billers and coders the DME billing domain experience increases billing error, lack of follow-up and also delayed reimbursement in such cases.
• Delivering lower quality care to patients – healthcare practices with limited in-house staff are seen ending up focusing more on the billing and coding aspects rather than in their core work of patient care.
• Increase in the workload with limited staffs – it is no secret that the medical billing is a complex domain and a person not only need to be up to date with the recent medical billing rules and regulations but also should have a complete process knowledge along with experience working on it, knowledge about the complexities that come with payer contracts etc. which in this crisis situation lacks. As healthcare staff is limited the workload keeps going up. This is practically insurmountable for the in-house billers and coders within such limited time who are handling other administrative works too.
• Difficulty hiring and keeping staff - though the present emergency has limited getting experience staff or hiring them. Getting a team of experienced billers and certified coders is a really expensive.However for a better revenue cycle for your DME billing business if you don’t have the necessary staffs you not only suffer financial crisis but lack a seamless DME billing process. However, improving your chances of a better DME billing management process along with perfect revenue generation can be solved with the help of outsourcing your DME billing process.

Alleviating some of the workloads, outsource operational extension not only reduces your above problems like delayed reimbursement but also helps you in reducing the operational cost as well. Taking care of the complete DME billing responsibilities so that you can completely concentrate on patients care, outsourced revenue cycle management organizations is a cost effective solution. Eliminating the cost of all training charges, medical benefits, infrastructure, software installation fee etc, outsourced RCM offers complete operational transparency.

Giving clients a clear picture of the complete DME billing process with the help of customized robust reporting and dedicated managers, with stringent checks in the billing and coding process outsourced RCM organizations also reduces all your billing errors.