- October 26, 2022
- Posted by: Steve Smith
- Categories: DME Billing, DME Billing Services
Current Concerns About DME Billing
Outsourcing of critical business processes, a practice often labeled as ‘Business Process Outsourcing’ or ‘BPO’, is not an absolute novelty by any stretch of the meaning of the term. In this era of rapidly proliferating digital connectivity and shrinking barriers, BPO is a common strategy that is being embraced by businesses of all sorts with a view to keep operational and administrative costs under control. It has been around for decades now, but has gained in strength over the years. In this context, a great example can be seen in DME billing.
Outsourcing of DME billing has been around for quite some time now. However, the outcome has been varied. While many providers have claimed to have benefitted immensely from outsourcing, having noticed their collections rate go up, their denials go down and more claims getting through the turnstile without a hiccup – some others have not been entirely happy about the outcome. In the final verdict however, the result of outsourcing, whenever and wherever done judiciously and with care, has been largely ameliorative.
And yet, there are horror stories that continue to make us wary. So, should DME billing be outsourced? Would it be a good idea to bring in an external agency to handle your billing when you have been getting it done so far with your regular, in-house staff? Let’s investigate.
To be, or not to be – that is the question
Outsourcing DME billing is a major decision for most DME providers. If, after careful deliberation, a provider does decide to engage external assistance and opt for outsourcing, there are a few critical considerations that he needs to make. One of the primary determining factors is the cost advantage. Most DME providers opt for outsourcing when they find their operational expenses soaring. Another reason is to make the billing process more efficient. Professional intervention is known to have an ameliorative effect on the entire revenue generation process. With a competent billing partner, providers can enjoy faster bill processing, quicker collections and fewer errors.
What it really boils down to then, is finding the right partner. The key lies in selecting a billing agency with proven expertise and experience in handling DME billing. Once a provider is successful in spotting such a partner, the rest should be smooth sailing.