1 / 7

5 Strategies To Improve The DME Billing Efficiency

DME providers live in such an era where increasing patient liability is hampering their efficiency as an additional burden. They are struggling with maintaining a positive flow of cash in their growing business with no easy button but until now.<br><br>A common mistake committed by most DME suppliers is to identify patients, check their eligibility, and verify insurance coverage without any proven methods. Thus, they pay unnecessarily high fees leaving their revenue behind to the agencies. This takes a toll on their profit and becomes difficult for them to keep their businesses afloat. In such circu

23917
Download Presentation

5 Strategies To Improve The DME Billing Efficiency

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 5 STRATEGIES TO IMPROVE THE DME BILLING EFFICIENCY DME providers live in such an era where increasing patient liability is hampering their efficiency as an additional burden. They are struggling with maintaining a positive flow of cash in their growing business with no easy button but until now. A common mistake committed by most DME suppliers is to identify patients, check their eligibility, and verify insurance coverage without any proven methods. Thus, they pay unnecessarily high fees leaving their revenue behind to the agencies. This takes a toll on their profit and becomes difficult for them to keep their businesses afloat. In such circumstances, the only option they can choose to counterbalance their reimbursement cuts is to opt for DME billing and coding as the number one and priority task. Read More… info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  2. info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  3. Here are 5 simple yet effective ways to enhance the DME billing efficiency, thereby expediting the A/R collections in practice. 1. Verify the Insurance before Providing the Medical Equipment Verifying and validating the insurance a day or two before the scheduled insurance appointment can significantly increase your charge to collection ratio. It also gives you the freedom to make changes to the already scheduled appointment in case you come across any issue of concern with the insurance policy. Here are the simple but effective ways to verify insurance: • Call and verify the insurance • Opt for the billing software utilization or EMR verification • Use online pay resources to verify insurance • Outsource the task of verification to the dedicated DME billing specialists who can take care of the task while focusing your effort and time on more important things to you. 2. Collection at time of service Are you even aware that if a patient leaves your medical facility, the chances of your collection gets reduced by more than 45% immediately? Hence, you have to ensure that the co-insurance and co-pays are collected along with any past dues and projected deductibles as soon as the equipment is provided. Therefore, it is always recommended to implement a well-round check-out process so that you get an extra chance of collection before the patient leaves your facility. info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  4. 3. Performance measurement and data capture The effectiveness of your DME collection process can be hampered at any point in the process if the person with data access does not take accountability for his job or work performance. Therefore, ensure that all your team members must coordinate amongst each other constantly and be in alignment between information access and performance accountability. Such an alignment can be checked by using technology such as monitoring and reporting metrics. 4. Utilize the latest and updated systems You can now automate your daily patient collection functions with the latest and updated technological advancements such as EMR software. In fact, many DME suppliers are now opting for such software to ease their billing and coding process. But are you still struggling with understanding and using the software? Then, leverage the benefits of hiring a reputed professional DME medical billing company in the USA who can take responsibility for your regular yet important tasks with utmost precision and care. info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  5. 5. Clean claims transforms to greater collection There is a direct relationship between the accuracy of the claims information and the collection that comes from it. In other words, the greater the numbers of clean claims, the higher will be the financial stability of your business. Therefore, make sure that your billers and coders submit clean claims with accurate information so that there is no rejection or delay. Conclusion The aforementioned strategies can only be effective when you outsource your billing and the claims management process to a reputed 24/7 Medical Billing Services. The company can help you to improve your DME billing efficiency, thereby improving the A/R collection process. The bottom line is to keep your reimbursements flowing in for a healthy and profitable RCM process. If you need any guidance regarding the improvement of DME billing efficiency, call the 24/7 Medical Billing Services experts at +1-888-502-0537. Read more : info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  6. ABOUT US We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses. • Our company was founded in 2005 and is now a leading organization of highly motivated and certified coders & billers in the US medical billing industry. Our current employee strength is 500+ and we have ambitious plans to grow more rapidly. • As a leading Medical Billing Outsourcing Company we take care of the complete setup & enrolment in about one to four weeks time depending on the complexity of the project. We have certified trainers with 10+ years of experience to train the newcomers so they can get acquainted with the specialty jargons & stay updated with the recent coding developments. • info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

  7. CONTACT US 24/7 Medical Billing Services 16192 Coastal Hwy, Lewes, DE – 19958 USA Phone no : +1 888-502-0537 Email Address : info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com/ 888-502-0537

More Related