Your DME billing team follows a meticulous intake and billing process, and there’s enough staff to cover the current workload, yet your team struggles with claim denials – what can you do? Unfortunately, mistakes will still occur even with the most comprehensive procedures and competent employees. If you’re wondering what other methods you can do to increase your claim approval rate, we’re here for you!
When you consider outsourcing some (or all) of your DME billing needs, it opens the door for more time and resources for your business. How does that work? Keep reading to understand more about claim denials and DME denial management services in medical billing and what Medbill can achieve for your business.
CMS’s Data on Claim Denials
Since DME providers and other businesses deal with claim denials on a regular basis, the Kaiser Family Foundation took a deeper look into this common problem. When the Centers for Medicare and Medicaid Services (CMS) released data on 2020 claim denials and appeals, the Kaiser Family Foundation analyzed the information and discovered some interesting statistics.
- 16% of claim denials were from an excluded service
- 10% of claim denials didn’t include prior authorization or referral
- 2% of claim denials lacked medical necessity
- 72% of claim denials were “other reasons”
Resources for Increasing Your Claim Approval Rates
While the above data is valuable knowledge, without practical solutions to reduce denial rates, it’ll only remain as interesting information. Below are some Medbill resources you and your team can use to increase your billing efficiency.
Outsourcing Services for DME Denial Management in Medical Billing
Before we explain what you can expect from DME denial management services in medical billing, you should know that not all outsourcing companies are the same. There are many DME billing companies to choose from, and the right partner can help you to meet your billing goals. When you evaluate different companies, interview them to learn about the services they can provide you, how they can show their success, and the value they can bring to your business.
4 Ways Medbill Can Become an Asset for Your Business
Keep Your Records Up to Date
You won’t have to worry about constantly confirming patient data for every order. Instead, our team will review the patient records to ensure accuracy on:
- Policy numbers
- Deductible information
- Patient’s personal information
Investigate Current Billing Procedures
A fresh set of eyes can shine a light on errors that might go unnoticed. The Medbill team will examine your current processes by searching for potential concerns and developing a solution for them.
Add an Extra Level of Organization to Your Operations
Sometimes claim denials occur from a lack of communication with coworkers, the patient, or the insurer. We can analyze your procedures and accounts to add an additional layer of organization to increase claim approvals and accounts receivable payment rates.
Work With and Train Your Team
If keeping your current billing team is a top priority for you, then we can work with your staff to:
- Stay current on industry regulations
- Educate them on how to navigate industry billing changes
- Train them on new procedures for filing claims
- Help to improve their billing efficiency
Learn How Medbill Gives DME Providers a Competitive Edge
If you’ve been looking for that missing piece in your business, we could be the answer! We aim to serve the industry by providing superior services while supporting patient care in a results-driven environment.