Being one of the most popular markets, the DME market size is expected to rise more than USD 52.9 billion by 2022 at a compound growth rate (CAGR) of 6.0 % and the reason for such demand are mainly due to:
- growing geriatric population
- increase of various chronic diseases such as cancer, diabetes, cardiovascular diseases, neurological disorders, and mobility disorders.
- Accidents etc
In fact ailments like alzheimer’s, parkinson’s, and epilepsy further fuel the product demand.
However, even with such demand, finding a perfect in-house team of billers and coders handling your DME billing operation can be challenging and extremely expensive at time for many healthcare practices.
This is why today more than 80% of healthcare practices end up investing in a third party RCM solution.
Resolving all your DME billing issues in no time at a cost effective rate, outsourcing RCM solutions today is known for improving your ROI and helping you in concentrating on important aspects like patient care management.
Benefits of having your DME billing managed by RCM solution:
Taking care of your DME billing and collection day to day RCM activities, outsourcing RCM gives you more time to focus on administrative work and network with other professionals on enhancing patient care management.
Moreover, working round the clock, an operational extension ensures timely reimbursement, collecting all details and managing EMR services efficiently, it further works on reducing the room for errors by maintaining strict checks. Providing a real time documentation and customized reporting, they further are well equipped in billing software services as well.
In fact, the best part of outsourcing your DME billing is improving your cash flow it considerably reduces the unwanted charges you end up investing in like billers and coders training fees, software installation and training charges, employee wages and perks etc. Freeing up your time and decreasing your stress related to billing and complex coding and collection process, an operational extension ensure a steady revenue cycle and enhance cash flow.
In fact, Dr. Dipak Nandi M .D, recipient of several entrepreneurial awards, a proud member of the prestigious AIIMS alumni and a board certified psychiatrist. Who is involved across the United States and India with key strategic initiatives in healthcare services like medical billing and telemedicine further stated outsourcing is the future of the healthcare industry. A cost effective and seamless medical billing solution.