How Outsourcing Your HME Billing Process can Reduce The Denial Rate for Your Practice

The top priority for most of the healthcare practices today is trying to navigate all the ever-changing regulations of the billing world along with the increasing world of healthcare payment, seamless medical billing operation, and a faster reimbursement rate.

However, as today chasing the reimbursement is getting harder than ever along with the increasing denial rate in the HME billing process, it’s becoming further challenging for many in-house billers in managing both the financial and operational aspects while focusing on patient care.

This is why today for a seamless HME billing process most of the healthcare practices find outsourcing to be a convenient solution; as it helps to identify opportunities for improvement in your cash flow and also assists with reduced billing errors, denial rate, etc.

How outsourcing your HME billing operation helps in reducing the denial rate?

As outsourcing operational extension understands the significant impact of denials claims have on the revenue cycle and correlating bottom line, these outsourcing organizations not only resolve all your dental issues but also finding the reason for denial and eliminates the root of the problems.

Helping you in improving your revenue cycle where margins continue to shrink, outsourcing in order to reduce your denial rate ensures:

· On focusing on data collection and Validation – data plays a very important role in claims denial as incorrect data not only results in denial claims but also hours of rework delaying the whole billing process and also the reimbursement. Taking time to evaluate the data properly not only faster the process but also there will be a reduction in the denial rate too.

· Assure a faster claims management process – as the process of denials management can be extremely time consuming and complex in order to avoid such confusion, outsourcing not only ensure faster and claims process but also timely submission of claims. This eliminates the unnecessary reason for denials.

· Ensure robust reporting to find the root cause of denial- the reason for denial of a claim is different in every healthcare practice, which is why understanding where and why the reason for denial at root cause level is crucial and only possible with an efficient robust reporting. Reporting here not only gives clients the complete billing picture but also helps in tackling the root cause or issue in a strategic and effective manner for a better billing process; reducing the denial rate once you understand the root cause of your denial claims.

Being a challenging endeavor for most of the healthcare practices, outsourcing the HME billing process from an operational extension with a team of experts taking care of all the billing and denial management responsibilities not only helps in improving the cash flow and ensuring seamless billing process but also in long-term revenue cycle performance. Today there are much outsourcing organization that offers 70% operational cost reduction at a service charge as low as $7 per hour with benefits like 99.9% accuracy rate in all billing and coding services, highest collection rate, no cost dedicated account managers, etc.