In a rapidly growing healthcare industry, Durable Medical Equipment (DME) has become a well-known option for healthcare-related services for thousands of patients across the nation. Indeed, a recent study of the DME products market revealed that the market is expected to increase significantly in the coming 10 years. With the increasing amount of aging population as well as an increased frequency of respiratory ailments home healthcare is expected to remain highly sought-after.
With this increase in use, DME billing is turning into more difficult for healthcare professionals.
Presently, DME billing can be difficult and complicated, especially if your team isn’t up-to-date with the latest guidelines or procedures put in place by the payer. It demands a thorough understanding of the reimbursement requirements for the two payers, Medicare and Medicaid, and private insurance plans, including commercial ones. DME billing also requires an ongoing commitment to quality and being current with any changes that are made to reimbursement guidelines and the coding and documentation requirements. To ensure a successful bill for DME procedure and a proper reimbursement healthcare providers face plenty to be on the lookout for. This can be an expensive matter both in terms of time and cost.
Before proceeding further, let’s take a look at some definitions to make sure that we’re in the exact same place.
HME is a term used to describe medical equipment suitable for the home environment and is supervised by a non-professional or patient family caregiver. HME billing extends across the entire revenue cycle and is based on referrals from clinics, hospitals, and doctors. DME is a term used to describe any durable medical device that provides therapeutic benefits to patients who suffers from a specific medical condition. Examples include kidney machines, oxygen tank walkers, the monitoring devices for blood sugar. The majority of DME is usually targeted at providing therapeutic relief to patients suffering from a chronic disease. This is why DME is a type of HME.
Below are some common issues that can be encountered when it comes to DME invoices:
- Coders and billers who are not experienced It are evident that the hiring of a competent team of billers and coders is essential. In the event that both insurance and government companies introduce new rules, it is essential to keep on top of the latest guidelines for billing. Inexperienced billers, not well-versed in the billing process or the rules that govern it, could cause the denial of claims as well as revenue loss.
- Inadequate claim management in many cases the in-house billers end up not addressing claims and follow-up when they manage their billing and administrative obligations.
- Incomplete data and statistics Inadequate and missing information can cause problems for the provider’s organization, leading to delays in billing, and possible rejection of claims.
- Coding mistakes the primary issue for the billing DME payment process are coding mistakes. Due to the abundance of codes, coders who have not experienced frequently input incorrect codes that cause delays in the process of billing. Medical Coding is a special area and those who deal exclusively in billing and coding will be familiar with all the directories of codes utilized for DME services.
The truth is that a lot of DME providers are confronting major challenges when it comes to managing their front-office work which can result in delayed payments or even refuse to pay claims. A reliable partner who will help eliminate any known “pain” areas within your practice is the next step.
We have the ability to provide it all through the help of our DME service for billing. Let’s look at the reasons the reason.
The reasons and why’s” that make us a trusted DME biller:
- Our team is certified billers and coders to ensure “best in category” customer service. Our team also reviews every claim before sending to the payer. We make sure that every claim adheres to the rules of compliance and is precise throughout the process.
- Our coders and billers are skilled to analyze and address the reasons for rejections, and whenever possible they can resubmit claims to make sure that they are reimbursed through Medicaid as well as Medicare.
- Our billing experts are experts in the most current DME guidelines. This knowledge will assist you to overcome any billing issues your company might face and will help you improve your procedures at the same time.
- Accounts receivables are vital in your financial flow. If it’s impacted by claims denials, guidelines for payors, or other issues with AR We’ll investigate and solve the issue and ensure your business has an efficient cash flow. Be aware that our objective is to ease the financial burden off your business.
- Our staff is kept current with every change in the industry and we ensure that the companies we will remain up to date and up to date constantly.
- We are always available to answer questions from your staff by phone, email, or fax. We offer a variety of ways for you to reach our team, we are able to provide quicker responses and help make customer service easier for you.
- We offer custom-designed reports. At a quick glance, you can understand precisely how your business is performing. We don’t overwhelm you with statistics but draw attention to the most important performance indicators.
- The company we work for is a single-stop source offering all-inclusive billing services with the most competitive pricing levels available. In short, we completely take care of your billing needs. Your employees will not be required to enter data to correct claims or make calls to patients to collect money.
We are aware that our readers love a 30,000-foot perspective of what’s on the table for them as a DME business. Therefore, we present.
- Access to a well-trained and skilled team of professionals who know the DME market
- Substantial savings in labor
- Prompt claims submissions
- Rapid turnaround on denials
- Follow-up and track partial payments. Track and follow up on partial
- Reduced Days of A/R
- Reduction in bad debt
- Enhanced revenue rate, bill rates cash flow, and collection rates
- Quality and compliance. Quality and full compliance
- Rigorous checks and verification
- Affirmed experience in billing and coding
- Assistance for any kind of DME billing issues
- Respond To Medicare Audit requests
- 100 100 HIPAA conforming
- Complete security of data
- Individualized reporting
Visualize your business’s image on PEDs, or performance-enhancing drugs. (Please, figuratively and but not literally!)
Imagine operating effectively as well, with greater flexibility, more compliance, and attaining financial excellence. This is the reason you must think about outsourcing in lieu of. housing specific aspects in the DME business.
Remember that billing can either make or your business. Whether you want to tweak your existing procedures or implement new ones in practice, you first must assess the current DME billing procedures. Are they creating backlogs, inefficiencies, or revenue loss? If yes, you can boost your billing procedures by Outsourcing DME billing services.
