- January 25, 2024
- Posted by: Steve Smith
- Category: DME Insurance Verification
It is true that excellent standards of practice management are the cornerstone to better reimbursements. The US durable medical equipment was measured at almost $50 billion in 2019 with a CAGR of 6% during the forecast period.
There is huge demand for medical equipment, especially in the CPAP category with the rising number of cases in sleep apnea and breathing challenges. With the rising number of old population, mobility solutions will be a huge requirement in the coming days. Hence, as a DME provider you need to ensure the right standards for a better RCM experience on all accounts.
What are the pre billing activities in DME
There are a number of functions to be performed before you can bill for your DME item to an insurance provider. Heavy lifting activities like the eligibility verification, DME insurance verification, sales order creation, doctor’s office follow up and doing all the necessary activities before the delivery of the item.
All of these factors contribute to making the reimbursement process simpler and easy. Unless you have set the right provisions in place with your front end activities, you cannot expect to do well in your collections.
An Efficient Team can do Wonders To Your Finances
A dedicated team that understands claims adjudication mandates, changing regulations, consequences on how everyday operational approach will be decided can truly transform your ROI in the best possible manner.
By working with the best, a specialized team that handles your DME insurance verification needs will guarantee you better standards when it comes to doing it all under one roof with a full service approach. You can find a vendor that can help you out with the post billing activities.
Finding a blend of a team that can deliver your actionable support in pre billing will be helping you build a strong foundation that can transform your collections in the long run. A help in eliminating all the pain points in your practice management efforts for a smoother recovery of your money by doing all the document management work done in accordance to payer requisites.
It can help in reducing your operational expenses, eliminate process loop holes and help in elevating your RCM approach with a team that works as your reliable partner.
Driving Operational Excellence
Streamlining your inventory, eliminating chances with inconclusive eligibility standards, getting your DME insurance verification on time will be a key area of your DME business. Finding a team that can deliver you actionable support will add value, help you in reaching a step closer to achieving financial peace at a critical time. It gives you the flexibility to focus on your patient care, looking on how you can reduce your DSO rising and get you on track with every day practice management efforts that transpire to better collections.
To conclude, a quality company can improve your DME insurance verification process, help you recover from process gaps and lastly improve your financial viability standards. Finding someone that can help you achieve this can be a huge bonus.