How Can Your DME Billing Process Be Optimized To Speed Up A/R Collections?
In any healthcare setup, efficiency is the key to success.Your success depends on your ability to innovate and improve patient experiences while reducing costs and avoiding mistakes. It is therefore crucial to have an efficient medical billing system to achieve these goals. When you don’t have an experienced biller working for you, it’s impossible to minimize errors, comply with the latest regulations, and optimize the billing process.
Due to the constantly changing regulatory compliance, the Durable Medical Equipment (DME) billing industry undergoes perennial renovation. For most of the businesses, staying up-to-date with the varying DME billing landscape is a foremost challenge, which is why they outsource durable medical equipment billing services. Medical equipment providers face many challenges, including shrinking collections, billing errors, the cost of training new employees, and suspended operations in the absence of staff.
Neglecting any one of these problems can result in slower productivity and revenue. Taking advantage of BBS DME billing services is the best way to overcome these challenges.The round-the-clock efforts of our team are aimed at helping you increase reimbursements and cash flow.
You can improve your DME billing efficiency and thereby speed up your practice’s A/R collection by following these 5 simple yet effective steps.
1. Before providing insurance, make sure it’s valid
Increasing your charge to collection ratio can be achieved by verifying and validating the insurance a day or two before the scheduled insurance appointment.In case you encounter any concerns regarding the insurance policy, you also have the option of making changes to the already scheduled appointment.
Here’s how to verify your insurance in a simple and effective way:
- Make sure the insurance is valid by calling
- You can opt for EMR or billing software verification
- Verify insurance coverage with online resources
Having a dedicated DME billing specialist handle the verification process allows you to focus your effort and time on more important things.
2. Collection of service fee on-time
You may not realize it, but if a patient leaves your medical facility, the chances of your collection instantly drop by more than 45%.Therefore, after the equipment has been provided, you should ensure that the co-insurance and co-pays are collected as well as any past dues and projected deductibles. So, it is always a good idea to have a well-rounded check-out process in place in order to have the chance of collecting before the patient leaves the facility.
3. Measurement and data capture of performance
If the person with data access does not take responsibility for his job or work performance, it can slow down the effectiveness of your DME collection process. Thus, make sure that your team members constantly coordinate amongst themselves and are in alignment with each other with respect to information access and performance accountability. Using technology such as monitoring and reporting metrics, one can determine if the alignment is accurate or not.
4. Use the latest and most updated systems
EMR software allows you to automate your daily patient collection functions with the latest and most updated technology. A large number of DME suppliers are now using such software to simplify billing and coding. However, do you still have difficulty understanding and using the program? Then, work with a reputed professional DME medical billing company in the USA to handle the regular yet important tasks with utmost attention and accuracy.
5. A clean claims process leads to greater collections
The accuracy of claims information and the collection that results from it are directly related. This means that the more clean claims your business has, the more financial stability it will have. Therefore, you should ensure that your billers and coders submit clean claims with accurate information to avoid rejecting or delaying them.
By outsourcing your DME billing service to BBS, you are making the right choice.
Efficiencies of all 5 tips need not be achieved simultaneously, as it would be a costly overhead.You can however make your DME services more efficient, and therefore allow for a much more effective A/R collection process, by planning and possibly even outsourcing the billing and claims management process. In order to maintain a profitable RCM process, you need to make sure your reimbursements are flowing in.
If you outsource your billing and claim management process to a worthy BBS Medical Billing Service, then you can utilize the above strategies effectively. Our medical billing services specialists are available round-the-clock to help you improve DME billing efficiency.
For assistance with improving the efficiency of your DME billing, contact our medical billing services at +1 (323)-843-0055. It’s our responsibility to take care of your DME Billing processes!
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