If working on spreadsheets, reviewing little details, and reviewing denied claims isn’t part of your ideal day – we can help! Currently, many DME providers are struggling to find medical billers and coders for their businesses. And as you know, your risk of denied claims increases without a well-qualified billing team. Since you’re reading this article, you already know you need assistance.
The revenue cycle management outsourcing industry can help DME owners find the billing team they need to succeed. And at Medbill, we have a staff of qualified DME billers who are experts at revenue cycle management. We can help to ensure a smooth billing process, from patient orders to claim payouts, by using our specialized approaches that provide tangible results.
Learn more about the revenue cycle management outsourcing industry, the reasons you should consider outsourcing, and why Medbill should be your first choice for revenue cycle management in 2023!
What You Should Know About the Revenue Cycle Management Outsourcing Industry
The revenue cycle management outsourcing industry helps owners navigate the complexities of a healthcare-related practice. Since every medical industry has its own rules and regulations for billing claims, make sure to find a company that is an expert in the DME industry.
DME revenue cycle management (RCM) involves several critical parts to ensuring an effective RCM process. The outsourcing company will work with you to:
- Reduce claim mistakes
- Comply with all billing and coding regulations
- Keep you up to date with the latest RCM strategies
- Organize and maintain efficient documentation, billing, and coding process
3 Signs It’s Time to Outsource Your Revenue Cycle Management
If you’re trying to determine if your business needs to outsource your DME needs, here are a few signs that you would benefit from their services.
#1 Recurring Billing Issues
If you experience any of the below problems regularly, it might be time to outsource.
- Coding errors
- Incorrect modifiers
- Missing documentation
- Incorrect patient data on claims
- Poor claims management
#2 Low Collection Rate
If your collection rates from claims and patient bills are lower than the anticipated amount every month, these billing experts can keep your rates on track.
#3 Struggling to Stay Current
If your team is having problems staying current on the industry’s billing rules and regulations, then an outsource team who are experts in the industry can help to keep your claims compliant.
5 Reasons You Should Consider Medbill as Your Billing Partner
If your billing team deals with any of the above issues, we can help you overcome them. You’ll benefit from our knowledge and continual growth because we’re constantly looking for ways to help our customers.
Here are five ways we can help you with your RCM processes in the new year.
#1 Personalized services for your products and payors.
#2 Individually review all your order documents, and we’ll apply your payor’s policies and guidelines to ensure their accuracy.
#3 Monitor your claims and notify you and your team of updates.
#4 Address any potential AR issues, including monitoring your balances and finding solutions to any ongoing AR issues.
#5 Provide a monthly report that includes data on your most valuable business metrics.
Ask Us All of Your Outsourcing and RCM Questions!
We know the DME billing processes inside and out, so stop looking online for answers and come straight to the source. Learn how we can help your business grow in 2023 today!
Contact us online or call 866-575-0432 to talk to one of our expert team members.