Data on durable medical equipment is one of the most valuable resources a DME practice could have. It can reveal how medical equipment is being put to use, whether patients are receiving the treatment they need, and whether your business is performing to its full potential.
6 Tips to Make the Most of Your DME Data
Understanding and interpreting your DME data is crucial for optimizing patient care and driving your practice toward success. Still, making sense of such complicated information can be challenging without the right approach.
Let’s explore six essential tips for expert data interpretation.
1. Analyze DME Data on a Payer Basis
When examining your DME data, look at it through the lens of distinct payers. Analyzing trends within a specific group can uncover valuable insights into potential issues like missed intake opportunities, modifier issues, or areas for revenue growth.
For example, if you notice a significant increase in denials from one particular payer, it may be a sign that further investigation into billing practices and coverage policies is warranted.
2. Monitor Usage Trends Over Time
Tracking DME usage trends over time is a vital starting point for finding patterns and areas ripe for improvement. For example, if your data shows a notable decrease in the use of a particular kind of DME among your patients, it might indicate a need for more proactive measures like equipment maintenance or education initiatives.
3. Compare DME Data Across Patient Demographics
Demographics are an essential consideration for analytics across all fields, and DME is no exception. Examining your DME data based on patient demographics can provide valuable information about patient needs and preferences.
Comparing usage between different age groups or those with particular medical conditions can allow you to better tailor treatment plans and DME offerings for your distinct patient population.
4. Identify Outliers and Investigate Root Causes
Outliers in your data, such as uncharacteristically high or low utilization rates for equipment, should be a big flag for further investigation.
Say, for example, one specific patient consistently requires more DME supplies compared to others with the same condition. This is a good sign that there are health factors still unaccounted for and may demand a reassessment of their designated treatment plan.
5. Leverage Data Visualizations for Clarity
Making use of data visualizations such as graphs, charts, and dashboards is a great way to make complex data more digestible (and, therefore, more useful to you and your team). Visual representations of trends and patterns will make it simpler to identify points of interest and draw up actionable plans.
Start simple — most people appreciate a good bar graph. If your DME software doesn’t provide real-time dashboards to display vital information in a visual format, it may be time to look into a more elegant software solution.
6. Consult With Data Specialists
When in doubt, it’s always better to ask questions than to sit on assumptions. If your team is deep in the weeds already, the best place to start is by seeking guidance from DME specialists with the tools and expertise to break down your data into usable information.
Whether you’ve got questions about coding, coverage policies, or best practices for DME data analytics, consulting with a trusted specialist can help ensure that you’re making informed decisions and maximizing the value you get from your data.
Find the Expertise You Need at Medbill
Looking for a team you trust to guide you in complex data analysis? Here at Medbill, we’ve been working magic behind the scenes for DME operations like yours for years. Our experts take a nuanced approach to analysis, combining in-depth expertise and cutting-edge technology to bring you deeper insights into all your hard-earned data.
Ready to see your DME data in a whole new light? Contact Medbill today.