When you receive on-time payments and claim approval the first time, it can give you that happy and excited feeling (think of Christmas morning when you were a child). Imagine if you could have that feeling every time the billing department provides you with an update on payments and claim status. The good news is with Medbill’s help, you can experience that feeling!
DME accounts receivable outsourcing services are a powerful tool you can use to your advantage. When outsourcing your accounts receivable tasks, it frees up your staff’s time to focus on other revenue-generating matters, while Medbill focuses on the time-consuming AR tasks. So, if you want to learn how to obtain real, tangible results from DME billing services so it can grow your yearly revenue, you’re in the right place.
Receive the Accounts Receivable Results, You Want
Since DME accounts receivables are one of the most labor-intensive parts of a business, outsourcing the work to experts is appealing. One way to ensure a successful outsourcing experience is to work with a reputable DME billing company.
At Medbill, our goal is to be a trusted industry partner. Every month, we provide our customers with data-driven reports showing how our services are aiding their business. So, as you consider your outsourcing options, look for a billing partner to provide you with transparent data on your investment.
What You Should Expect in a Report
Be sure to ask your prospective billing partner how they’ll provide you with information and data on their work. Here are a few topics you can discuss with them during your meeting to help ensure you’ll receive the accounts receivable results you want.
What Information Will They Include in Your Report
Have them explain what type of data they will include in your report and why that information is valuable to know. Typically, a report should include the following:
- Current business trends and successes
- Significant numbers from the accounting perspective
- Showing their progress towards improving your AR
Data is great, but if it’s unreliable or inconsistent, it means nothing. Be sure to ask your prospective partner to explain how they can guarantee the accuracy of their reports every month. Including information on which reports they are pulling data from and which data they’re reviewing on a regular basis.
Displaying the Data
Lastly, ask to see an example of their reports. If they’re complicated to read, that should be a cause for concern. While reports should include valuable business data, they should be free of unnecessary information. Make sure they are in an easy-to-read display, allowing you to see the most valuable data at a glance.
Sorting Through the Accounts Receivable Outsourcing Services You Need
The great news with DME accounts receivable outsourcing services is that it allows you to choose from full-service or a la carte options. Unfortunately, the choices can make it challenging to determine what you need assistance with and what tasks you can complete in-house. Typically, with outsourcing AR, many DME providers need assistance with collections and follow-up services.
AR Collection Services
- Gather payments from outstanding accounts
- Monitor claims status
- Improve current collection times
- Boost the efficiency of your current billing processes
AR Follow-Up Services
- Payment posting
- Resolve rejections
- Claims verifications
- Find resolutions for current denied claims
How Medbill Can Benefit Your Business
Understanding your current billing needs and potential future needs will help you to understand where you might need additional assistance. And one way you can learn where your greatest billing needs are is to complete the free Medbill Benchmark & ROI Review.
You’ll learn the gaps in your billing processes and your actual collections percentage (you’d be surprised to learn how one small error could skew your internal reports, making your data inaccurate). After we review the results with you, we’ll also include what your ROI could look like with our services.