Durable Medical Equipment (DME) is an important aspect of Revenue Cycle Management. As it has a direct impact on medical insurance reimbursements, stakeholders are constantly on the lookout for robust DME models focused on operational improvements to improve liquidity, profitability, and resource deployment. Keeping in mind such relevance, Ohio based DME Supplier outsources 24/7 Medical Billing Services for streamlining their RCM with their efficient and error-free DME medical billing services.
Top DME Obstacles Overcome by 24/7 Medical Billing Services:
- Errors in Coding
This Ohio based DME Supplier (the identity of the client has not been disclosed due to confidentiality of the information) frequently lost reimbursement due to a lack of a streamlined coding process in the Healthcare Common Procedure Coding System (HCPCS). The absence of modifiers and inadequate narration were the core factors affecting the repayment of their DME bills.
“We helped this DME client with our error-prone techniques of checking payer reports and coding. Our advanced billing software was used to assist the client with the intricacies of the ICD-10, ICD-11, and DSM-5 coding conventions,” notes coders of 24/7 Medical Billing Services.
- A thorough check of transcriptions of doctors’ notes and lab reports was done to ensure smooth reimbursements.
- 24/7 Medical Billing Services also assigned an experienced team to conduct the coding review and validation audits for HCPCS, CPT-4, and ICD-10-CM medical coding.
- Incorrect Document Management
On a daily basis, this DME Supplier was required to manage hundreds of documents, necessitating the use of an efficient digital document management application to organize, store, and retrieve critical DME billing and coding related information. The DME Supplier continues to rely on paper-based documentation, which not only clogs their system but also adds unnecessary costs and time to their business.
The client who has paid a high price in the form of lost DME billing and coding related data or claim dismissals as a result of poor document handling finally contacted the 24/7 Medical Billing Services,
“Our client has seen a significant improvement in the way they organize, catalog, and control documents pertaining to DME billing and coding after implementing our solutions,” says experts of 24/7 Medical Billing Services.
- In a digital repository, 24/7 Medical Billing Services sort, batch, scan, and index documents.
- Secure document handling with an integrated reconciliation process was also done that can feed data into the order entry workflow.
- Regulatory Obstacles
Because of the constantly changing regulations, this DME Supplier finds it difficult to keep up with the latest changes, and as a result, their reimbursements suffer. Their staff members who are not mindful of the stringent and complex regulations frequently find themselves in difficult situations with the Centres for Medicare/Medicaid Services (CMS).
“We conduct routine compliance audits to identify potential issues and ramp up client efforts to ensure regulations for uninterrupted operations,” stated by the revenue management specialist of 24/7 Medical Billing Services.
- A dedicated team was assigned to analyze the regulatory environment and the legal requirements with which the DME Supplier must comply.
- Deployed a custom framework for continuous coding upgrades to meet all regulatory requirements.
- Denials And AR Management
Sloppy AR management can be devastating to the DME revenue cycle and this is what is being faced by the Ohio based DME Supplier. They were largely reliant on outdated AR applications that were simply not suited to the evolving healthcare scenario.
“We’ve worked with a number of clients whose revenue streams had dried up due to poor AR monitoring over the years. As per our experience, we utilized standard processes and industry best practices to unify all front and back-office accounts tasks for streamlined AR management. We have also used electronic medical records (EMR) to store critical information for claims and follow-ups,” says Hariharsudan, the founder of 24/7 Medical Billing Services.
- The AR specialists understand all DME medical coding requirements. They ensure that the patient’s insurance coverage is confirmed while the DME billing services are being billed.
- To make the claims process more effective and efficient, they have used automation in EHR, digital practice management systems, and alert applications.
Given the current and future effects of the ongoing crisis on the healthcare ecosystem, the client had no choice but to improve agility and align their operations with their business goals. With improved cash flow, increased collection efficiency, optimized productivity, and reduced revenue leakage as top priorities, it would be wise to seek the services of competent 24/7 Medical Billing Services.
About 24/7 Medical Billing Services as a Reliable DME Partner
24/7 Medical Billing Services ensure an optimized revenue cycle for healthcare organizations as an end-to-end DME medical billing services provider. Their digital DME billing and management services, which are supported by a knowledgeable team of experts and integrated technology platforms, enable them to drive important business outcomes for their clients.
Further, their custom DME billing services, backed by their collaborative approach, have helped them optimize operations for their clients over the years, allowing them to achieve significant bottom-line benefits. If you wish to contact 24/7 Medical Billing Services, please reach out to them at +1-888-502-0537 to get in touch with their experts.
24/7 Medical Billing Services,
28405 Osborn Road,
Cleveland, OH, 44140
Tel: + 1 -888-502-0537
Website – https://www.247medicalbillingservices.com/