- May 4, 2021
- Posted by: Thomas Anderson
- Category: DME Billing
Some of the heart sorrowing take-away right from the time this pandemic started according to a global data report is that the global orthopedic market almost worth $48.4 billion while this pandemic started. It lost nearly $4.8 billion with revenue right from the time it began.
The entire market growth decreased to about 10% or $43.6 billion in the year 2020 after rates of elective surgery dropped. Almost 15 to 30 percent of elective surgeries got cancelled last year.
Many companies predict that the volume reaching 2019 will not happen even at the end of this year. The pandemic also shifted the site of care from inpatient to outpatient ASC’s. Things do not different at all across the DME market as well. The entire DMEPOS market is apprehensive, needs better logistics as well as billing mechanisms that can improve their reimbursements in the best possible manner.
Many resources lack proper dme billing training that can elevate a supplier’s chance of earning more in the long run. Also, dme billing companies are in high demand as every provider looks forward to secure better payments and hire cheaper resources.
However, finding the right team that can extend support across all dme billing software, eliminate process gaps in dme billing codes with specialized intervention can be a hard find. It all comes down to a superior RCM destination that can optimize your ROI as a provider with complete adherence to dme billing guidelines 2021.
How To Choose The Right Vendor in DME Billing
So what’s the plan ahead? How do you see yourself ahead in these trying times! The right way forward will be to hire a competitive partner that offers resources with complete dme billing training. If you find someone that offers versatility across all dme billing software, understands all the dme billing guidelines 2021 and offers streamlined support, you might be working with the perfect partner.
Client References: What are their credentials in the market place? Are they working with clients that have some foothold in the market place. Also, are they capable of handling any volume and treat all business entities alike. Do they handle all accounts irrespective of their size or source? You must have clear answers to each one of them. Only then can you decide if your vendor is adept in handling your DME billing challenges.
Versatility in front and back end: A lot of providers in the DMEPOS space are currently suffering from front end issues. In reality, issues with inventory management, order entry and confirmation, prior authorization are all setting up the wrong standards with collections in the long run. At the end, all you need is someone that can help you focus on your patient care better.
Pricing and communication standards: Reducing your overall costs of operations is something to worry upon! Finding someone who can offer you dedicated resources at next door rates will be handy. All you need is a way to have specialized vendors taking care of your DME billing challenges as a reliable operational extension.
To conclude, a quality DME provider will be looking for viable vendors that can elevate their revenue cycle management efforts with a disciplined presence. A consistent partner knows how to take it to the next stage.