- May 24, 2022
- Posted by: spiderman
- Categories: DME Billing, DME Billing Services
DME billing in 2022
2022, the year touted widely as the year we rise again from the ravages of the pandemic, has not been an easy ride so far. While the world continues to limp back to normalcy, a lot of ground still remains to be covered. If you are a DME (Durable Medical Equipment) provider, the journey probably has not been an easy one. One of the most affected areas is DME billing where matters have taken a rather grave turn. Amidst a surging inflation and a crippling dearth of skilled labor, coupled with a general rise in demand, DME billing has taken a hit with many providers across the country. The need of the hour, it seems, is a miracle that can save the DME industry from sinking into a morass of unprofitability and decreased productivity.
A Viable Solution for DME Providers
As operational cost continues to spiral out of control, a growing number of DME providers are looking to outsource their billing operations to specialized third-party billing & coding agencies. By outsourcing only the actual billing process and paying for it at a fixed, all-inclusive hourly rate, providers can save thousands of dollars in overhead or maintaining an in-house staff of resident billers and coders.
Many of these billing service providers operate from off-shore locations and are able to provide complete billing support that is almost impossible to match in the US economy. It is estimated that a well-planned, strategic outsourcing can immediately bring about up to 80% saving in operational expenses.
Choosing the Right DME Billing Partner
As one embarks on a search for the right billing partner, one will notice that there is no paucity of service providers in that sector. But unfortunately, they don’t always meet expectations and so, one can never be too careful when choosing the right people to handle your billing. After all, the health of your revenue cycle depends on your billing success.
Be sure to choose somebody who has a proven expertise in DME billing. Consider factors like how long the agency has been in the DME billing business, how many clients they have served so far (and the worth of those clients) and what they are saying about the quality of services. Also ask about the level of proficiency your prospective billing partner has in the DME billing software that you normally use. It can save a lot of time and trouble afterwards and can prevent an unnecessary migration of your billing from one billing platform to another.
The cost is also an important consideration. It is important to understand the different pricing models that are offered and then choose the one that best fits your specific needs.