- April 26, 2023
- Posted by: spiderman
- Categories: DME Billing, DME Billing Services
Are you struggling with the tricky affair of managing DME claims? Finding a robust and cost-effective solution to reduce your DME billing backlogs keeping you awake all night?
Then you a not alone!
Today more than 73% of DME providers are struggling with the same.
This is why, it is important to understand what contributes to an increased payment turnaround time and what leads to your billing backlogs?
Tips to downsize your DME billing backlogs
Accounts receivables should ideally be settled within 30 days. However, at times, payments might face delays along with hold-ups and so one has to be very careful. Here are several factors that can cause a payer to take longer than usual to make a payment-
- Mistakes in claims
- Negligence and carelessness
- Multiple rejections
- Missed deadlines for filing etc
Reducing DME billing backlogs and shortening the time required to process accounts payable is extremely essential for better ROI. So here are a few innovative strategies to minimize medical billing backlogs:
Decode Denial Claims Trends: Denials largely contribute to the growth of backlogs and aged claims. Each DME billing denial occurs due to a distinct issue or an error made at a specific stage, particularly when similar errors happen repeatedly, it, however, can be prevented.
So, this is why it is very important to identify the common blunders associated with DME like – medical coding inaccuracies, misunderstanding insurance providers’ terms and conditions, or neglecting to follow up with patients for documentation and work on improving it.
Dive into Patients’ Complete Records: It is recommended to verify a patient’s insurance details and full health records when they seek DME medical care. This practice helps you recognize any recurring claim problems arising from earlier treatments.
Addressing these issues can decrease the chances of facing problems at your facility again, ultimately leading to reduced backlogs and aged claims.
Embrace Cutting-Edge Software: The emergence of automation software has revolutionized DME medical billing. Technological advancements have made a significant impact on DME medical billing, scribing, data entry, and accounts receivable departments. By adopting state-of-the-art software and automating processes, a DME healthcare provider can effectively minimize backlogs and aging claims.
Work on your write-offs: It’s disconcerting to see uncollectible claims on reports with no prospect of recovery. In such instances, it’s better to write off the DME claims while ensuring the reason is documented.
Regular Audits and Performance Analysis: Conducting regular audits and performance analyses of your DME billing process can help identify bottlenecks and areas for improvement.
Analyzing your billing workflow, identifying any recurring issues, and taking corrective measures to rectify them make your job half done in reducing the billing backlogs in the long run.
Streamline Billing Processes: Evaluate your existing billing processes and look for opportunities to streamline them. As streamlining your billing processes can help you reduce the time in claims submission and error rate which will ultimately minimize billing backlogs.
Sunknowledge Services Inc is here to help.
Sunknowledge – alleviates your DME billing burdens:
Outsourcing your medical billing to a company like Sunknowledge Services Inc., can help manage backlogs and aging claims effectively. With a team of professionals monitoring outstanding receivable balances and investigating denials, the team reduces error rate while ensuring timely claims submission. Following the right checks and balances, Sunknowledge expert further guarantees-
- 9% accuracy
- 80% operational cost reduction
- No write – offs without consent
- Reducing your AR bucket by 30% within the first month itself and more
So, what are you waiting for? Get in touch with the expert as we are here to address such challenges proficiently. For more information, get in touch with the expert over a ‘no commitment call’.
Josh Knoll is a professional with over 10 + years of experience in the healthcare billing industry. As an expert in his field, Josh has worked with a wide range of clients from DME, HME urgent care, Orthotics and prosthetics to urgent care services and various other specialties and has managed to delivering excellent results every time. His attention to detail and ability to navigate the complex world of healthcare billing has earned him a reputation for being one of the most knowledgeable professionals in the industry.