In a DME billing process without an experienced biller, DME providers have a higher chance of getting negative impact in their collections, experiencing slow cash flow, and increase downward pressure on revenue. However, it can be taken care of following few particular steps like:
- Having the right resources – having the experienced billers and certified coders fit for your DME billing not only reduces your time for rework but saves a lot of money for your practice. With complete transparency, it further improves the patient experience. Catering to all your billing needs while following HIPAA compliance, with the right resources you additionally experience financial stability / better return of investment (ROI).
- Efficient denial management – Though more than fifty percent of denied claims can never be reworked leaving a lot of cash flow on the table, ninety percent of denial can be avoided if careful measures are taken. Starting from carefully managing data information to maintaining codes denial can be reduced also by working on improve eligibility-verification processes. Verifying in real time in fact reduces the risk of lost revenue.
Moreover, it is often seen smaller denial values are lost and a higher priority is given to the highest value, leaving out a lot of cash. This should be avoided. Ensuring proper claims submission in a timely manner in fact helps with your claims resulting in faster reimbursements.
Moreover, today achieving a successful billing operation is easy when you have an operational extension working on your side. This is because in this competitive era where labor costs and healthcare expenses are going up daily, an operational extension helps in reducing your operational cost by eliminating additional charges and avoids common billing errors; which save both your time and money.
Saving a greater portion of your revenue and removing the obstacle that can affect your patient care, outsourcing your medical billing operation today helps with a faster reimbursement rate and improves your workflow efficiencies, stated Dipak Nandi a recipient of several entrepreneurial awards, M.D, and a board certified psychiatrist.