- July 5, 2022
- Posted by: Josh Knoll
- Category: HME Billing
The need for an HME Billing Partner
Medical billing is an area which is gradually turning more complex and expensive. As payor norms keep changing and a shortage of skilled billers continues to worry health care practices across the U.S., the need to look beyond the shores for professional assistance becomes imperative. The scenario with HME billing is no different. HME (Home Medical Equipment) providers are increasingly engaging offshore agencies that offer specialized services in billing, coding and managing other critical aspects of the entire revenue cycle.
The need to hire such extraneous services does not stem from the current socio-economic situation alone. It has a larger, ameliorative effect on the entire practice, especially in the areas of billing and collections. With a skilled billing partner, HME providers can expect to see increased collections, reduced denials, faster recovery of pending receivables, and a more efficient management of the revenue cycle.
Choosing The Right Partner for Your Practice
Outsourcing HME billing to a competent and experienced billing expert, then, seems like a dream come true. However, it can turn sour quickly if one does not choose wisely. The reality is, there is no dearth of billing organizations offering a whole range of specialized support in HME billing and managing collections. But the quality of their services can be extremely uneven. So if you are an HME provider and are considering offloading your billing responsibilities to a partner, start by finding a billing agency with at least a few years’ experience in the area. The more experienced you are able to find, the better. With an experienced biller, you can expect to enjoy a better output and increased collections, with fewer denials, a higher first pass rate and better A/R recovery.
It is also advisable to choose a billing partner who is proficient with the HME billing system that your practice uses. These could include such popular platforms such as Brightree, Kareo, OPIE, Fastrack, CPR+ HME, along with some lesser known ones. Prior knowledge of the billing system will ensure a seamless transition and help avoid lengthy learning curves before the appointed agency actually starts working on your account.
Besides these, financial considerations are also important. While it is natural to settle for the lowest rate that you can find, one should be careful about any hidden cost or other concealed charges. Some of the best medical billing agencies provide core services at a low, flat rate, with a host of other complimentary services. They also have no binding contracts and simple exit terms, in case a client wants to terminate the association for any reason. In simple words, if you are able to find such a billing organization, you can stop looking any further and consider signing up.