Why Do You Need to Streamline The DME Billing Process?

Every healthcare provider currently is looking for a streamlined DME billing operation team to manage their DME billing process efficiently.

According to Market Watch, the global market for Durable Medical Equipment (DME) is expected to reach USD 246.6 billion by 2026. This increase is expected due to the benefits that DME items such as:

• wheelchair

• nebulizer

• canes

• crutches

• walkers

Aside from making the patient's life easier, DME products help these patients live a pain-free life, allowing them to be self-sufficient.

Aside from the benefits mentioned above, technological innovation in DME medical equipment is another explanation for the growth of the DME market. As people get older, they are more vulnerable to chronic diseases, necessitating more DME products in order to live a simple life.

So now the question is:

Why do you need to streamline the DME billing system?

DME billing is considered to be a time-consuming operation due to the many complexities and dependencies that it entails.

Furthermore, once claims are filed, the process of monitoring and ensuring prompt follow-ups can take a long time. Furthermore, the ICD-10 coding scheme has resulted in various improvements that have resulted in increased investment in terms of staff training and IT infrastructure investment.

In addition, the increased scrutiny on coding and billing errors has increased the burden on the core segment of the billing process. This contributes to:

• Decreased efficiency

• Resulting in lower cash flows

• Negative effect on the Revenue Cycle

On top of that, as the market for DME products grows, all healthcare providers are looking for a streamlined organizational extension that can manage their DME billing process efficiently.

Focusing on specific DME billing sections, as stated below would not only help the DME billing process minimize turn-around time and increase cash flow, but will also have an immediate positive effect on the RCM process:

The front desk

Patient demographic verification and eligibility are important. Minor errors will result in claim denials, forcing you to repeat the entire process. Payer guidelines for each patient who comes in must be vetted in order to decide the type of coverage available, especially with regard to the use of DME.

Compliance

As the DME billing process exchanges substantial information inside the process in order to prevent fraud and the laundering of unnecessary information and assets. It necessitates an organizational extension that includes full HIPAA enforcement. This guarantees strict supervision and data security.

Highest Collection and productivity

It is better to choose an operational extension that has the highest collection rate and productivity, since these results in positive reimbursement.

Accounts Receivable (AR)

It is the most significant feature of the DME billing process. Following up on pending claims, initiating collection, analyzing the reasons for claim denials, and tracking outstanding receivables make sure that the most revenue is received.

Hence to conclude, it can be said, that with a simplified and streamlined DME billing process implemented with the modern technology and skilled staff. The DME practice should expect to see positive impacts on the Revenue Cycle Management process, contributing to quicker and more reliable processing times and improved cash flows.