Striving to gain an advantage in today’s DME market takes considerable time and resources. And you might be wondering how to secure an edge over the competition. The answer – DME full-service billing!
Outsourcing some (or all) of your billing needs can provide you with additional assistance to give your business the upper hand over others. You’ll learn how DME billing services can help give you the edge you need to stand above the crowd in the DME industry.
What is Full-Service Billing for DME?
Before learning the incredible value, full-service billing provides, ensure you fully understand what it entails. DME billing services provide you with extra support while reducing your overall operational costs. Some of the options available include:
- AR assistance
- Cash posting
- Claims management
- Audit Assist
- Document review
- Revenue cycle management
Additionally, some DME billing companies even offer a la carte services, so you can use the ones that fit your specific needs. Learn more about the essential qualities of DME billing services.
5 Ways DME Billing Can Give Your Business an Edge
You know you need something ‘extra’ to boost your business, and you’re ready to make that investment, but you want to be secure that you’re making the right choice. To help you feel confident that DME full-service billing services are right for you, here are five ways it can give you a competitive edge in today’s marketplace.
#1 Long-Term Cost Savings = More Money to Invest in Other Business Areas
You only pay for your needed services when you outsource to a DME billing company. Which usually results in a fraction of the cost compared to:
- Searching and hiring a full-time employee
- Paying the employee (including benefits)
- Training the employee
#2 Billing Accuracy = More Cash Flow
A third-party billing team is typically an expert in their field because it’s all they do. This increases the accuracy of submitted claims, so you receive on-time payments. The result? A stable business where you can confidently anticipate your cash flow each month based on the number of claims.
#3 Efficient Employees = Increased Employee Capacity
Find a company that provides excellent services and will work with your staff. Allowing your outsource team to work with your current billing staff can teach them how to become more efficient in completing their tasks, increasing their overall capacity. Then you can give them additional assignments focusing on business growth (marketing, increasing sales, etc.)
#4 Improved Customer Service = Repeat Customers
Again, some DME billing companies will work with your staff on any current needs. One of those needs could be improving your staff’s customer service skills, or they could handle the customer service calls for you. Your outsource team has the knowledge and skillset to communicate with patients on their payment responsibilities, which would improve the customer’s experience. And happier customers result in repeat customers.
#5 New Perspective = Business Growth
Inviting the billing experts to the table gives you access to a fresh new perspective. Your outsource team can provide unique viewpoints on various issues, including increasing your claims approval rate.
Take the Next Step Towards Triumph
Advancing your business forward. More cash flow. Increasing your employee’s capacity. Repeat customers. More money to invest. Those are just a few benefits you’ll receive with DME full-service billing.
Medbill is one of the industry’s most trusted and respected billing companies. Our team has the comprehension and dedication to transform you’re your business!