- July 8, 2020
- Posted by: Thomas Anderson
- Categories: DME Billing, DME Billing Services
The choice of opting in-house billers or outsourcing your DME billing process has never been an easy decision for most of the providers, particularly when the decision can impact your revenue cycle.
Stating from data entry or be it clinical documentation improvement, coding or managing accounts receivable functions, today outsourcing is considered a convenient solution especially in 2020 as firstly in-house billing often lacks skilled billers and secondly having a team handling the billing operation is expensive when considered in-house billing.
The five essential factors to consider while choosing an outsourcing option for your DME Billing Process:
♦ Up to dated technology and software assistance– as the medical billing is an every changing domain, a busy healthcare practice has a lot of industry mandates and regulations to keep up particularly when healthcare practices primary focus is on patient care. Thus an outsourcing operational with extension the latest advancements in technology and complete billing awareness and process knowledge not only help with seamless billing transaction, a faster reimbursement rate but also helps you in saving your money.
While the right outsourced partner eliminates wasting time in learning new software and billing regulations while providing efficiency of their operations. Reducing the financial aspect that healthcare providers have to invest in front end billing process and on the rework of billing errors, the right operational extension focus on ensuring accurate, efficient, and seamless DME billing transactions.
♦ Ensure ongoing training and has complete process knowledge– the whole DME medical billing domain is an ever-changing world, which often becomes complicated for in-house billers to keep a track of as they are often loaded with different administrative work. Outsourcing your DME billing can not only save you from complicated billing regulations but also the money related to the training programs, certifications and continuing education program expenditures.
♦ Excellent references– excellent references while choosing the right operational extension plays a vital role in deciding the credibility. It not only helps the healthcare practices decide but also gives healthcare practices the idea about the productivity metrics, their operations and performance.
♦ Robust reporting – reducing expenses, outsourcing RCM organizations help improve efficiencies and streamline processes while providing robust reporting. Giving a clear picture of the DME billing process, robust reporting focus on the area that needs improvement; this not only improves the billing process of the healthcare practice but also reduces the billing errors.
Helping overcome the situation during heavy volumes without the need for hiring additional staff, today there are many outsourcing organizations offering actionable support in hospital account receivable at just 1% of the collection. Helping with reducing the operational cost by 70 percent, outsourcing organizations also helps focusing on patient care. Providing benefits like no cost dedicated account managers, service charge as low as $7 per hour and 99.9% accuracy rate, outsourcing organizations ensure reducing the overall cost while improving your financial status.
Supporting and taking all responsibility as pre-authorizations, insurance verification, patient call-center support, collection and denial management especially when there are employment crisis and rising employment issues, outsourcing is the ultimate solution