Why 2020 is The Best Time to Outsource your HME Billing Services

Changing the entire healthcare perspective, the year 2020 is been fortunate for outsourcing organizations; as more and more hospitals and health systems that are struggling through severe financial losses are opting for outsourcing as a convenient solution.

In fact, in this crisis situation were social distancing is the norm and finding the perfect team of billers and coders is difficult and even expensive, there’s never been a better time in considering the outsourcing option for your HME billing services. Starting from data entry, insurance benefits verification and authorization, coding to collections, payment and denial management; the outside outsourcing operational extension can actually better manage all these processes while cost controlling.

Here are a few pointers on why now is the best time for outsourcing your HME billing service:

Outsourcing helps in cost control– one of the main reasons for outsourcing your HME billing process is due to the factor of cost control. Helping you on saving significantly on employment cost by eliminates their training session, employment perks etc. Outsourcing removes you from the burden of software solution since it takes up a lot of time and understanding on the provider’s part involving documentation management, patient’s intake, physician notes etc. In fact, an outsourcing organization can rapidly expand a team of highly skilled experts to support crucial RCM functions for systems considering furloughs or layoffs.

Helping your healthcare practices focusing on other areas of need like patients care etc, in this emergency situation, outsourcing operational extension covering the abandoned space while ensuring seamless billing and coding process with overall operational cost reduction.

Outsourcing helps with fluctuate volumes- as there is no fixed ratio for patient volumes especially today at this point, where many are seen struggling with high demand for telehealth / telemedecine volume but a lesser requirement for procedural volumes. Furthermore uncertain about if non-emergency procedure will be canceled or postponed again or urgent care clinics will experience a heavy rush? This is where outsourcing can help. Despite all these uncertainties, outsourcing your HME billing service by the right operational extension by your side can immediately prepare resources to scale up or down as the volumes shift. Thus reducing your expensive billers and coders fee, extra overhead cost.

Helping with efficient revenue generation – identifying all the root causes of your billing issues, outsourcing helps you with opportunities in enhancing performance and accuracy in the billing and coding process. Along with helping you in cutting the extra cost, outsourcing organization works continuously for process improvement. Recovering your lost revenue that you never knew existed. Outsourcing also helps in dealing with your aging accounts while ensuring a faster reimbursement rate and increased revenue.

Outsourcing your HME billing process helps you in focusing on your core work of patient care- with the complex billing process and every changing billing regulation has often lead providers to shift their attention from patient care to the billing process. This not only leads to confusion but also deterioration in the work standard of healthcare practices. This is why when you outsourcing your HME billing services all you need to do is focus on patient care.

This is why solving all your billing issues especially in this crisis situation where things are uncertain and expensive, outsourcing your HME services are the best and convenient solution today.