An effective Home Medical Equipment (HME) billing environment that is regularly maintained is vital to minimizing claim denials and streamlining your revenue cycles. That’s why many HME providers will outsource their billing services for improved HME billing solutions. During the outsourcing process, you will have:
- Access to trained billing specialists
- Confidence that your claims always meet the most current payor guidelines
- Freed up time and resources to focus on other areas of the business
One additional benefit to outsourcing is that some HME billing companies can implement or maintain your Revenue Cycle Management (RCM) process. The RCM process is an effective way to secure financial success, better serve your customers and more.
What You Should Know About Outsourcing HME Billing Solutions
Finding, hiring, and training HME billing specialists takes considerable time and resources for a company. Then as the business grows, the need for additional billing specialists grows, and more time and resources are spent finding the right people for the company. That’s where outsourcing to a team of HME billing specialists for all your HME billing services can make a difference.
Outsourced HME billing specialists are:
- Trained by the outsourcing company, not you
- Already experts within the HME billing industry
- Skilled to find gaps within your HME billing process that can be improved
An Improved HME Billing Process
HME billing specialists can take over or add additional steps to your daily billing processes to improve your days sales outstanding (DSO) and decrease claims denials.
Steps could include:
- Putting a quality control system in place from intake to payment
- Implement a quality control process for all documents received
- Provide staff training on HME billing processes
- Regularly review claims denial rates and reasons
- Review unpaid claims daily
- Stays current on HME and DME billing and coding regulations
What You Know About the Revenue Cycle Management Process
The RCM process allows many billing companies to optimize your income through:
- Billing and claims management
- Handling claims denials
- Timely paid claims
- Staff time and expense on handling claims
- Revenue tracking
Working Together: HME Billing Services & the RCM Process
Some outsourced HME billing companies, like Medbill, provide you with results-driven billing services. This includes helping you keep current on the latest policies and payor procedures and stay on top of your claims and cash flow.
How the RCM Process Aligns with HME Billing Services
An effective RCM process will align the company’s revenue-related processes with other company workflows, which allows the HME billing company to offer providers RCM services so company staff can focus on other business responsibilities.
HME billing specialists are familiar with the DME and HME industries. They can quickly assist you with you implementing, maintaining, or enhancing any or all RCM process parts that’ll allow you to:
- Save time
- Minimize claims denial
- Streamline billing processes
- Reduce DSO
The Medbill Commitment
Medbill is an HME billing company whose 100% US-based staff is familiar with the United States healthcare system and can provide you with an entire billing team dedicated to your business. Learn more about our HME billing solutions, then contact us to get started.