- August 15, 2022
- Posted by: David Smith
- Categories: HME Billing, HME Pre Billing
HME billing for California Practices
The pandemic has disrupted socio-economic balances in a major way. The world had been little prepared for something as drastic and disruptive as the COVID-19 menace. However, humanity is finally on the verge of winning the battle against the virus, with no small thanks to millions of health care workers around the globe who have toiled relentlessly to ensure that everybody is provided the requisite care and attention.
The tremendous amount of extra work that those difficult days warranted, have left a bitter taste in many health care workers. The main grudge is feeling a bit cheated at the end of it, not having received any extra pecuniary benefits or otherwise for all the additional effort they had put in. The general uproar about increasing the minimum wages in California (and other states following suit) is thus well-founded. The last major revision in minimum wages in the U.S. took place in July 2009. Since then, the federal minimum wage across the nation has been $7.25 per hour. This is now slated to go up to $25 per hour or even higher.
One of the areas that will take the hit in a noticeable way is HME billing. A rise in minimum wages will mean that HME providers will now have to pay extra to all their staff engaged in billing, collections and other back-office activities. HME billing is a demanding process, requiring skill and expertise. Building and maintaining a team of skilled billers will now be more expensive than ever.
Building a more Economical HME Billing Practice
As HME providers in California start bracing for financial challenges ahead, many are exploring more economically viable options. One of the most attractive alternatives can be found in strategic offshore outsourcing of key HME billing tasks. Delegating billing operations to dedicated, third party service providers is allowing HME practices decrease operational expenses, bypass the scarcity in the local labor market and yet, get all their billing taken care of in an efficient manner.
Owing to their offshore location, these specialized billing service providers are available for work at a pay which is substantially less than the local U.S. market. Besides the cost benefits, such professional and specialized intervention brings with it an ameliorative effect on the entire revenue cycle. Having dedicated and skilled personnel working for you in the billing & collections area, can lead to the entire revenue cycle getting more streamlined and efficient. With the right partner, providers can now get all their HME billing completed with fewer errors, in less time and with incredible reductions in operational cost. Till providers are ready to pay extra that any increase in minimum wages warrants, offshore outsourcing continues to remain the most economical alternative to sustain their billing operations minus all the usual hassles or high expenses.