After the last few years, it’s clear to see that home medical equipment (HME) and durable medical equipment (DME) providers can quickly adjust to changes so their business can continue to move forward.
You probably saw how vital your billing department became during that time. Your billing team is the driving force for your business. You rely on them to submit accurate claims to ensure you receive payments while regularly working with patients so they pay their bills on time. All the while, your staff needs to stay current on industry rules and regulations.
A well-performing team keeps your business moving forward, while a slow or understaffed team might cause delays. As we adapt to change, our perspectives and opinions can change, too, especially when it comes to outsourcing. If you’re considering HME billing and consulting services and wondering if now is the right time, it’s time to find out!
3 Reasons It Might Be Time to Use HME Billing and Consulting Services
Are you trying to decide when the right time is to start working with an HME billing and consulting company? If so, the answer is now. HME billing services can provide much-needed relief in several areas of your billing department.
Here are three signs that it might be a good time for you to outsource some or all your billing needs.
#1 You’re Struggling to Find Reliable and Skilled Workers
Because of the current labor shortage, finding medical billers and coders has become a time-consuming task. And you’ll also need to compete against other providers hiring, which could cost you more than what you’re budgeting for a new employee.
Medbill’s Solution: Our team are skilled and knowledgeable medical billers because it’s all they do. They’re experts in their field and can help to increase your claim approval rates while decreasing claim denials. And if you want to keep your current staff employed, we provide training, repurposing plans, and feedback to equip them for success.
#2 You Have Unpaid Invoices and a High Claim Denial Rate
If it’s a common occurrence that your invoices are going past due and your claim denial rates continue to increase, it’s time to learn why.
Medbill’s Solution: Our team can review your processes while looking for areas of refinement that can reduce claim denials or prevent errors. We’ll also analyze your aging AR to find the missing gaps so we can maximize the payments you receive within the first 30-days.
#3 You Want to Gain a Competitive Edge
You’re constantly looking for ways to gain an advantage in the HME and DME markets. You’re searching for ways to increase your cash flow and your employee’s capacity while earning new customers and maintaining current ones.
Medbill’s Solution: Obtain that “boost” you’ve been looking for with us.
- Receive long-term savings to invest in other areas
- Increase your billing accuracy resulting in more cash flow
- Take advantage of training and education options that’ll increase your employee’s efficiency
- Learn new perspective so you can use that knowledge to grow your business
Read more about the various types of HME billing and consulting services available and the results you can expect from them.
Are You Ready to Make an Investment in Your Future?
When a significant part of your success depends on your billing team, ensure you rely on the right team to do the work. At Medbill, we’re one of the industry’s most trusted and respected billing companies because we hold ourselves accountable. We provide each of our customers with a monthly report with the data they want to know – the report is customizable to your needs. We can be a trusted partner to help move your business forward!