Digital Medical Equipment (DME) is a critical aspect of the Revenue Cycle Management. It is marked with tight credit markets, stringent regulatory scrutiny, and changing operational requirements. Owing to its impact on medical insurance reimbursements, stakeholders are always on the lookout for robust DME models focused on operational improvements to enhance liquidity, profitability, and deployment of resources. Here is a compilation of a few instances where our deep domain expertise helped our medical clients with efficient and error-free DME medical billing services for quick reimbursements.
Top DME Challenges that we Navigated for our Clients
Coding Errors
The lack of a streamlined coding process in the Healthcare Common Procedure Coding System is often responsible for care providers losing out on their reimbursement amount. We have helped several clients who were struggling with their error-prone processes of checking payer reports and coding. The absence of modifiers and deficient narration was also harming the repayment of their DME bills.
Our industry experts helped the client by setting up a more streamlined coding practice in ICD-10, DME-pertinent codes. The team leveraged our advanced billing software to help the client with the ins and outs of the ICD-10, ICD-11, and DSM-5 coding conventions.
- Thorough checking of transcriptions of doctors’ notes and lab reports for hassle-free reimbursements.
- We assigned an experienced team for coding review and coding validation audits for HCPCS, CPT-4 coding and also ICD-10-CM medical coding.
Erroneous Document Management
DME businesses have to manage hundreds of documents on a daily basis, thus requiring an efficient digital document management application to organize, store, and retrieve critical business information. We are frequently approached by clients who have paid a heavy price in the form of business data loss or claim dismissals owing to poor document handling. Most of them still rely on paper-based documentation that not only makes the entire system messy but also a costly and time-consuming affair.
Our custom DME document management solutions empower users with the capability to scan, file, and share documents digitally. Using our solutions, our clients have realized a noticeable improvement in the way they organize, catalog, and control documents pertaining to patients, physicians, or orders.
- Sort, batch, scan and index documents in a digital repository.
- Secured document handling and built-in reconciliation process that can feed data to the order entry workflow.
Read Also In 2021 You Must Stop Thinking and Take the Right Moves to Outsource DME Billing
Regulatory Challenges
Owing to the frequently changing regulations, most DME services find it difficult to adhere to the latest changes, and consequently, their reimbursements get affected. The ones that aren’t careful about the rigorous and complex regulations, often find themselves in difficult situations with the Center for Medicare/Medicaid Services (CMS).
We deploy regulatory experts with extensive experience in enabling care providers to comply with DME legal and regulatory obligations for Medicaid, Medicare, Tricare, and DOL compliance. We conduct routine compliance audits with the intent to identify potential issues and ramp up the client’s efforts to ensure regulations for unhindered operations.
- A dedicated team to analyze the organization’s regulatory environment and the legal requirements with which it must comply.
- Deploy a custom framework for constant upgrading of coding to comply with all regulatory requirements.
AR Management and Denials
Sloppy AR management can land a severe blow to the DME revenue cycle. Over the years, we have worked with numerous clients whose revenue streams were drying up owing to faulty AR monitoring. They were relying largely on their outdated AR applications that were simply not fit to match the dynamics of the evolving healthcare scenario.
For streamlined AR management, we adopt standard processes and industry best practices to unify all front and back-office accounts tasks. We harness electronic medical records (EMR) to maintain vital business information, such as patient data and reimbursement documents, for claims and follows-ups.
- Our AR experts are well-versed with all DME medical coding requirements. They ensure that while the DME billing services are being billed, the patient’s insurance coverage is confirmed.
- We use automation in EHR, digital practice management systems, and alert applications to make the claims process more effective and efficient.
What Makes us a Competent DME partner?
As an end-to-end DME medical billing services provider, we ensure an optimized revenue cycle for healthcare organizations. Our digital DME billing and management services, backed by a competent team of experts and integrated technology platforms, enable us to drive key business outcomes for our clients.
Cost Optimization
We pursue constant innovation for fine-tuning the DME structure to ensure the best outcomes. To this end, we refine the client’s existing processes to stay updated with the changing industry landscape. We leverage technology and business intelligence to increase employee throughput to help the client cut down on their operational costs.
Elevated Customer Experience
As customer experience is a critical aspect of DME medical billing services, we help our medical clients with custom tools to extend unmatched assistance to patients/account managers/clinics. We automate most of the tedious tasks for the support team so that it focuses only on the ones requiring human intervention and judgment.
Risk Mitigation
As a certified DME expert, it is our responsibility to safeguard our clients’ information and critical business data. We are a HIPAA-compliant firm possessing the right security infrastructure to execute DME medical billing operations and ensure data safety. We help our clients to duck the curveballs of non-compliance penalties without the need to purchase expensive billing solutions.
Considering the current and future impacts of the ongoing crisis on the healthcare ecosystem, DME enterprises are left with no choice but to improve agility and align their operations with their business objectives. With an improved cash flow, higher collections efficiency, optimized productivity, and decreased revenue leakage as priorities, it’s a prudent move for DME providers to seek the services of a competent DME services firm.
Who We Are and Why Our Expertise Matters?
This article is brought to your by MedBillingExperts, a trusted name in the medical billing services industry in the U.S. Over the years, our custom DME billing services, backed by our collaborative approach, have helped us to optimize operations for our clients, helping them achieve significant bottom-line benefits. Our DME billing solutions have assisted care providers with an optimized RCM cycle by transforming their cost management processes, enhancing patient satisfaction, and maintaining total compliance.
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