Operating a successful Home Medical Equipment (HME) business requires significant time, money, and resources. Between staying up to date on industry guidelines, implementing and maintaining an effective billing process, and potential staff shortages, finding ways to improve customer service and increase provider referrals can be challenging. Then while attempting to free up valuable time and resources to increase revenue, many HME providers are searching for other options.
HME billing services are one potential option that allows owners to enhance their billing department and grow their revenue. So isn’t it time that you learned if HME billing services are right for you?
3 Reasons HME Billing Services is Right for Your Business
Here are the top three reasons outsourcing your HME billing services would help to improve and grow your business.
#1 Unpaid claims continue to go 30+ days without receiving payment.
#2 Inexperienced or lack of staff results in mismanaged billing claims or poorly filed claims.
#3 Increasing claims denials and not refiling the denied claim promptly, which results in lost revenue.
HME Billing Services and its Results
Working with an experienced HME billing company allows you to customize the HME billing services to best fit your needs and goals. Expert HME billers, like Medbill, only focus on the HME and DME billing industry, making them the best choice to help achieve your goals.
Here are four billing services that help HME providers improve and grow their HME business!
1. Cash Posting Services
This type of service addresses possible problems within your revenue cycle and corrects the issues before they grow. It’ll help you streamline your billing process and guarantee that you are receiving the maximum revenue from your submitted claims.
This includes cash posting and cash reconciliation services.
2. Document Review Services
These services include a detailed review of your billing documents to ensure you’re audit ready and compliant. The results from these services include:
- Reduces audit risks
- Improves collections times
- Ensures payer compliance
This includes audit ready best practices, assistance in the event of an audit, and document pre-review services.
3. Patient Pay Services
This service helps you while also educating your staff on handling incoming patient calls, collecting timely payments, and managing the patient AR. When patient pay calls are improved, customers are more likely to provide positive referral feedback and reviews resulting in increased business.
This includes printing and mailing invoices, fielding live calls, and outgoing mail and phone collection efforts.
4. AR Services
This type of service will assist you in reducing your aging AR within the first 30-days. The results are a more streamlined AR process and immediate resolution for denials and current AR issues.
This includes researching, and working denials through all available resolution methods, working unpaid invoices until resolved, and proactively following up to increase collections.
Is it Time to Make the First Step?
Medbill is a reliable and expert HME billing company that continues to help HME providers, like you, maximize and strengthen their billing processes to reach their goals. Contact a Medbill team member to learn how we can help meet your HME billing needs.