Benefits of Outsourcing DME Billing to Improve Your Revenue

The Durable Medical Equipment (DME) billing industry is constantly evolving, which requires providers to stay up to date on the current trends. When claims management tasks go unchecked, claims denials increase and follow-up doesn’t occur, leading to lost revenue.  Outsourcing DME billing can help ensure important claims tasks are completely correctly and timely.

Benefits of Outsourcing DME Billing Services 

The harsh reality of DME billing leads many business owners to outsourcing options to increase their revenue. There are many benefits of outsourcing DME billing services that’ll allow you to free up time and resources and increase your claims reimbursements.

Most time and resource-intensive tasks for DME providers are securing payment information from Medicare and other insurance firms. Here are five benefits of outsourcing DME billing services to save you time and money.  

#1 Increased Revenue 

The number one reason many companies outsource is to increase their revenue stream by:

  • Securing faster collection times
  • Reducing aging AR
  • Streamlining your AR process 
  • Reducing audit risks 
  • Addressing possible issues in the revenue cycle
  • Decreasing denial resolution time 

The Medbill Advantage 

The Medbill Benchmark & ROI Review will:

  • Uncover the areas with the greatest billing needs
  • Measure current percentage collected
  • Provide you with the potential return on investment for our services 

#2 Improved Customer Service 

The DME billing staff can handle patient calls and communicate with patients on their payment responsibility. Their skillset and knowledge in proper communication techniques will enhance the patient experience. It’ll also allow your staff to free up time to focus on other areas of the business.

The Medbill Advantage 

We have strategies for employees communicating with patients to guarantee positive patient communication. 

#3 Staying Compliant with Changing Regulations 

As mentioned above, the DME billing industry constantly makes changes. If you don’t have the time and resources to stay up to date, the amount of denied claims can increase. Part of a DME billing company’s responsibility is to manage those changes and make sure your submitted claims meet current regulations.

The Medbill Advantage 

Our staff are experts in DME billing and policies to ensure your claims are paid. This single focus allows us to gather information and stay current on industry changes quickly and successfully.  

#4 Minimal Billing Errors Results in Less Claims Denials 

Accurate claims submission requires proper coding and documentation. 

  • Working with various insurance companies
  • Coordinating information with patients and insurance companies 
  • Understanding of the HCPCS Level II codes
  • Coding each piece of equipment correctly 
  • Obtaining all the correct documentation 

When you have a billing team of DME experts working with your staff, you can reduce billing errors, resulting in minimal to no claims denials. 

The Medbill Advantage 

We use innovative methods to provide a clear path to lower denials and streamline your revenue cycle. 

#5 Reduced Staff Costs

When you outsource your DME billing needs, you can choose not to hire in-house billing staff, saving you money on hiring and training costs. Or free up your staff’s time and allow them to focus on business growth and revenue-generating activities.

The Medbill Advantage 

Extend your billing department with the Medbill team. Our staff is trained and skilled in preparing your company for DME billing with personalized support.

Types of DME Billing Services Available 

There are several DME billing available depending on your needs that can improve your cash flow.

  • Patient Pay Services
  • Cash Posting Services
  • Document Review Services
  • AR Services
  • Revenue Cycle Management Services 

Some companies can provide you with monthly financial performance reports. Those reports can help effectively evaluate business finances and continue to grow and expand your business. 

It’s Time to Increase Your Revenue 

There are numerous benefits of outsourcing DME billing services. Contact the Medbill team to learn how DME billing services can grow your revenue.