#Best Outsource DME Billing and coding Company

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The Essential Guide to Outsourcing DME Billing for Healthcare Providers

Durable Medical Equipment (DME) billing is a critical aspect of healthcare revenue cycle management, directly impacting cash flow and financial stability. Yet, its complexity often leads to inefficiencies, errors, and delays in claim processing. For healthcare providers seeking to enhance financial performance while dedicating more resources to patient care, outsourcing DME billing has emerged as a strategic and effective solution. This guide explores the challenges, benefits, and steps involved in outsourcing DME billing successfully.

Why DME Billing is Challenging

DME billing involves a labyrinth of requirements, ranging from coding accuracy to compliance with ever-changing regulations. These challenges can strain internal resources and compromise revenue efficiency. Common obstacles include:

Regulatory Compliance:

Frequent changes in government regulations and insurance policies necessitate ongoing updates to stay compliant.

Failure to adapt can lead to costly denials or audits.

Complex Authorization Processes:

Securing prior authorizations is often a time-consuming and intricate process.

Delays in authorization can result in postponed reimbursements or denied claims.

Denial Management:

High denial rates, often stemming from coding errors, incomplete documentation, or non-compliance, create revenue leakage.

Resource Constraints:

Many in-house teams lack the expertise or bandwidth to manage the high volume and complexity of claims effectively.

Staff turnover further exacerbates these challenges, leading to inconsistent workflows.

Benefits of Outsourcing DME Billing

Outsourcing DME billing provides healthcare providers with a reliable and efficient alternative to in-house management. Key benefits include:

Enhanced Accuracy and Efficiency:

Specialized billing services ensure precise coding, thorough documentation, and reduced claim rejections, leading to faster reimbursements.

Cost Savings:

By eliminating the need for in-house billing staff, infrastructure, and training expenses, outsourcing becomes a cost-effective solution.

Improved Compliance:

Professional billing companies stay up-to-date with evolving regulations, ensuring full compliance and reducing the risk of legal penalties.

Focus on Core Activities:

By delegating billing responsibilities, healthcare providers can concentrate on their primary goal: delivering high-quality patient care.

Access to Advanced Technology:

Outsourced billing services leverage cutting-edge software and analytics tools, streamlining processes and providing valuable insights into performance metrics.

Key Considerations Before Outsourcing

Choosing the right DME billing partner is essential for achieving the best outcomes. Keep these factors in mind while assessing potential providers:

Experience and Expertise:

Look for a provider with a proven track record in DME billing, particularly within your medical specialty.

Data Security Measures:

Ensure that the provider complies with HIPAA regulations and has robust systems to safeguard patient information.

Scalability:

Choose a partner capable of scaling their services to accommodate the growth of your practice or facility.

Transparency:

Opt for providers who offer clear communication, detailed reporting, and regular updates on claim statuses and revenue performance.

Customizable Solutions:

A reliable billing partner should tailor their services to align with your specific needs and operational workflows.

Steps to Successfully Outsource DME Billing

Implementing outsourcing effectively requires strategic planning and collaboration. Here are the steps to ensure a smooth transition:

Assess Your Current Billing Process:

Identify inefficiencies, bottlenecks, and areas requiring improvement within your existing system.

Set Clear Goals:

Define specific objectives, such as reducing denial rates, improving cash flow, or enhancing claim turnaround times.

Research Potential Providers:

Compare providers based on their reputation, client testimonials, industry expertise, and services offered.

Request a Demo or Trial Period:

Evaluate their services during a trial to ensure compatibility with your practice’s requirements.

Establish a Partnership Agreement:

Formalize the arrangement with a clear contract outlining roles, responsibilities, and performance metrics.

Monitor and Optimize:

Regularly review performance and provide feedback to enhance the efficiency and effectiveness of the outsourcing arrangement.

The Future of DME Billing

Advancements in technology are reshaping the field of DME billing. Emerging trends such as artificial intelligence, predictive analytics, and automation tools are streamlining processes, reducing errors, and enhancing overall efficiency. Partnering with a forward-thinking billing provider ensures healthcare practices remain competitive in this dynamic environment. Staying ahead of these technological advancements will not only improve financial outcomes but also position practices for long-term success.

Your Essential Guide to Outsourcing DME Billing with ICS

Simplified DME Billing: ICS handles DME billing complexities, ensuring accurate coding and fewer claim denials.

Cost Savings: Save up to 40% and boost revenue by 30% with ICS’s affordable outsourcing solutions.

Experienced Team: Over 200 certified professionals across 40+ specialties, including DME.

Tech-Driven Compliance: Integration with top billing software like eClinicalWorks and Kareo ensures up-to-date compliance.

Reduced Denials: ICS minimizes claim rejections and ensures better reimbursements.

24/7 Support: Transparent reporting and continuous support to streamline your billing process.

Proven Success: Over a decade of experience helping providers maximize revenue and enhance efficiency.

Conclusion

Outsourcing DME billing empowers healthcare providers to overcome billing complexities, optimize revenue cycle management, and focus on patient-centered care. Partnering with a professional outsourcing medical billing and coding services provider like Info Hub Consultancy Services ensures greater compliance, efficiency, and financial success. Take the first step toward transforming your billing process today by contacting us.

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Durable Medical Equipment(DME) Billing Services in Corona, California (CA)

Leading Durable Medical Equipment (DME) Billing Services provider in Corona, California (CA). 12+ years of expert DME Billing Services. Call 888-502-0537 now!

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Boost Your Revenue Cycle with a Professional DME Billing Company

The healthcare industry is evolving rapidly, with medical practices and healthcare providers continually seeking ways to enhance operational efficiency, streamline processes, and ultimately boost their bottom line. For Durable Medical Equipment (DME) suppliers, one critical area of focus is the revenue cycle. An efficient and accurate revenue cycle ensures timely reimbursements and reduces financial strain. One of the best ways to improve your DME billing processes is by partnering with a professional DME billing company.

What is DME Billing?

Durable Medical Equipment (DME) refers to medical devices and equipment used to support a patient's health and well-being, such as wheelchairs, oxygen equipment, and CPAP machines. DME billing involves submitting claims to insurance companies (including Medicare, Medicaid, and private insurers) for reimbursement for these devices and services.

The process is often complex, requiring an understanding of specific codes, documentation, and payer-specific requirements. Errors in DME billing can lead to claim denials, delayed payments, and increased administrative costs. This is where a professional DME billing company can make a significant difference.

Why Outsource to a Professional DME Billing Company?

Here are several compelling reasons why outsourcing your DME billing to a professional company is a smart business move:

1. Maximized Reimbursements

Professional DME billing companies are experts in the intricacies of the reimbursement process. They are well-versed in the latest coding, compliance standards, and payer requirements. By ensuring claims are submitted accurately and in compliance with regulations, these experts help maximize reimbursements and reduce the likelihood of claim denials. This can directly improve your revenue cycle and ensure timely payments.

2. Improved Claim Accuracy

DME billing is notorious for its complexity, and even a small error can result in a claim being denied or delayed. A professional DME billing company can minimize these errors by using experienced billers who know how to navigate the ever-changing coding requirements. By ensuring that all claims are submitted correctly the first time, they help to avoid costly back-and-forth with insurance companies, ultimately speeding up the payment process.

3. Faster Cash Flow

Outsourcing your DME billing to a specialist means that you’ll have experts focused on quickly processing claims and following up on unpaid or denied claims. This can significantly reduce the time between service delivery and payment. A faster revenue cycle means improved cash flow for your business, allowing you to focus on growth and patient care.

4. Reduced Administrative Burden

DME billing involves various administrative tasks such as coding, billing, claim submission, and follow-up on denials. These tasks require significant time and attention. By outsourcing to a DME billing company, you free up your internal team to focus on their core responsibilities, such as patient care or business development. This not only reduces stress on your team but also boosts overall productivity and operational efficiency.

5. Compliance and Risk Management

The healthcare industry is highly regulated, and DME billing must comply with various rules and standards set by Medicare, Medicaid, and other insurers. Failure to comply with these regulations can result in fines, penalties, or even audits. Professional billing companies stay up to date with the latest regulations and compliance standards, reducing your risk of non-compliance and ensuring that your practice operates within the law.

6. Improved Reporting and Analytics

Most professional DME billing companies offer reporting and analytics that provide insights into your revenue cycle performance. With detailed data on claims processing, denials, payments, and reimbursements, you can make informed decisions about your business. These insights help identify trends, optimize workflows, and uncover areas for improvement, giving you a clearer picture of your financial health.

7. Scalability

As your business grows, so too will your billing needs. A professional DME billing company can scale its services to match your growing demands. Whether you are expanding into new markets, adding more patients, or offering more types of equipment, a billing company can adapt to ensure that your revenue cycle remains efficient, allowing you to focus on business expansion without worrying about administrative bottlenecks.

How to Choose the Right DME Billing Company

Choosing the right DME billing company is a crucial decision. Here are some key factors to consider when making your choice:

Experience and Expertise: Look for a company with specific experience in DME billing and knowledge of the unique challenges it entails. Their team should be familiar with industry-standard coding systems, such as HCPCS (Healthcare Common Procedure Coding System), and the intricacies of insurance and Medicare claims.

Compliance and Accreditation: Ensure that the billing company adheres to healthcare regulations and maintains certifications for compliance, such as HIPAA. This ensures that patient information is handled securely and in line with industry standards.

Technology and Software: The right billing company should use the latest billing software and technology that supports automation, accurate coding, and efficient claims tracking. Their tools should integrate seamlessly with your practice management system for maximum efficiency.

Customer Service and Support: Opt for a company that offers excellent customer service, with a team that is accessible and responsive when questions or issues arise. The best billing companies are proactive in communicating with clients and keeping them informed.

Conclusion

Outsourcing your DME billing to a professional company can be one of the most effective ways to boost your revenue cycle, streamline operations, and ensure timely reimbursements. With expert knowledge, improved claim accuracy, faster cash flow, and reduced administrative burden, a reputable DME billing company can provide the support needed to help your business thrive.

By choosing the right partner, you not only optimize your financial processes but also create a more sustainable and scalable healthcare business.

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What are the services offered by medical billing companies?

If you're planning to outsource part or all of your medical billing to professional medical billing service companies you might be wondering what tasks will take over and what you'll still need to accomplish in-house. ecare India is a medical billing and coding provider that offers the best medical billing services to keep your practice operating smoothly and effectively.

By reducing bad debt and cleaning up aged accounts receivable, e-care's healthcare revenue cycle solutions help clients' businesses so they can concentrate on their operations. Here is an extensive list of the services our medical billing company offers:

Submission of Bills and Claims

Our main service integrates with your electronic medical records (EMR) system, bringing each visit's specifics, relevant patient information, and other data directly into a standardized claim form. This simplifies the billing and claim submission process. Then, for each claim that has to be delivered to a payor, we run a series of claims-scrubbing tools to make sure the information is accurate and the proper codes are used to guarantee maximum reimbursement.

Our team of experts takes care of all the required follow-up, resubmitting medical claims, and escalating issues when claims are refused to guarantee that your practice consistently receives the payment you depend on while delivering care.

Insurance Verification

Verifying insurance eligibility is the first and most crucial stage in the medical billing process. According to research, the majority of claims are delayed or denied because individuals don't accurately or completely disclose their insurance during visits, and office or hospital employees don't update current coverage information. The payments are directly impacted by the incomplete or incorrect verification of insurance eligibility.  We assist your team by providing medical billing services so they can establish whether a patient's insurance will pay for particular treatments before you provide them.

Credentialing

The procedure used as part of e-care's physician credentialing services is as follows:

Managing requests for applications and letters of interest from payers for  providers, as well as new provider affiliations and group credentialing

Credentialing of the Facility, including adding Providers to the Facility's ID

Application preparation for paper CMS 855 and other managed care forms for all payers, including DME and dental payers

 Application preparation and online submission to federal, state, and commercial carriers

 Directly with carriers, keep track of and update particular Provider information as needed or at regular intervals.

Fix enrolling problems and monitor Managed Care contracts

Contractual materials are ready for scanning and long-term electronic storage.

Managed care summaries with effective dates, fee schedule details, and group affiliation should be prepared, maintained, and tracked.

 Maintaining expiration dates for DEAs, CLIA registrations, and NYS registrations as well as managing reapplications

Handling Re-Credentialing when necessary

Our dedicated team of physician credentialing professionals makes sure that your application for credentialing receives the attention it deserves.

Utilization Evaluation

When you are able to but are not currently contracted for certain codes, we acquire authorization from payors to offer certain services in addition to confirming patient benefits. We fight for you to fulfill the standards of insurers to ensure maximum recovery in a timely way since we are aware that the insurance environment is complex and continuously changing.

Collection of Patient Payments

The daily communication your team has with former patients who are still owed money for your medical services is another time-consuming duty. We follow up with customers by phone, email, and regular mail to secure these payments with a quick billing procedure, enabling your staff to focus on other crucial work.

Accounts Receivable Management

ecare revenue cycle management continuously scans your medical practice's accounts receivable to identify any unpaid invoices you haven't yet collected, then goes after the payer or patient who owes the remainder. We also provide prompt payment posting and keep track of your accessible paper and electronic health data.

Billing for medical services Save time while generating income

The medical billing service frequently entails tiresome and inconsistent activities that divert your team's focus from delivering top-notch treatment. By partnering with specialists like those at ecare, you may gain a significant strategic advantage by outsourcing these billing operations. 

At ecare india, we are providing great services for our clients for over 2 decades. Our team of professional experts analyzes the client's needs to fulfill them! Our experts one of the foremost mottos is to minimize denials and maximize revenue! 

Call us or visit us by searching for medical billing companies to know more.

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The right DME billing strategy can transform your practice with increased profits and satisfied patients. Get in touch with Info Hub Services to grow your DME practice.

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DME Medical Billing Companies Top 5

Durable Medical Equipment (DME) billing & coding companies are most wanted by medical practices as they may find DME billing & coding a strenuous job. Many hospitals proceed with outsourcing the medical billing process because of the stringent processes it follows. There are many DME billing companies to handle these toughest and time-taking tasks efficiently.

We are going to see about 5 topmost DME medical billing companies and what keeps them so unique. These companies deal with DME coding as well. Outsourcing DME billing and coding completely takes off the billing errors and reduces your investment in both time and money. By doing so, you will be able to concentrate totally on patient care and stay away from the stress factor.

Top 5 medical companies in the USA:

#1: 24/7 Medical Billing Services

This is one of the topmost medical billing and coding companies that offer professional and profit-yielding care to your DME billing and coding needs. The company is more than a decade aged in offering excellent and extended medical billing services to several clients. One best reason for you to choose this company as your outsourcing partner would be it has certified cross-functionality experts in service.

Moreover, 24/7 Medical Billing Services easily adopts and adapts to any technological changes and thus, impresses you with this top-notch attribute. It maintains all data under one roof and avoids confusion and stress when the DME billing process is under progress. The company always goes the extra mile to accomplish your needs as per your requirement, giving customization the priority. It follows deft rules and policies in the aspect of data security and charges ensuring transparency throughout.

When you are in an urge, the company provides you with quick innovative solutions and highlights you in the crowd. If you choose 24/7 Medical Billing Services as your DME medical billing & coding outsourcing partner, it makes you feel filled and happy for the worth you invest in.

#2: Info Hub Services

If your entire focus is on optimizing reimbursements and avails a quality service then Info Hub Services stands out to be one of the best DME medical billing companies. It has well-trained and experienced resources who can handle your requirements by breaking the complexity involved if any. Adhering to HIPAA rules makes it more prominent in terms of data security.

It follows a simple contract sign-up process with all your customizations and mandates included. This, in turn, makes it easy for the communication, project kick-off, internal training, and other activities involved in the process.

#3: Advanced MD

Advanced MD features extraordinary revenue optimization software, which comes with scheduling and financial reporting, making DME medical billing much easier than before.  The company offers a unified platform to manage your entire claims processing all under one roof. It integrates your entire claim data to the Clearinghouse and brings down the time and hassle on uploading claims & downloading remittances.

You can easily get your uncollected patient’s payments through Advanced MD’s online payment solutions, which is a handy technology.

#4: Kareo

If you are looking for a seamless experience of processing medical billing and coding with independent software, in a streamlined manner, Kareo is your best choice. The company offers unique and relevant high-end solutions that allow you to focus on your patient care and deliver outstanding patient satisfaction while building a healthy practice.

If you are an emerging practitioner and have enough time to manage your claims, you still can get your customized software from Kareo.

#5: NueMD

NueMD offers cloud-based medical billing software, which is easy-to-use and surrounded by complete security as well. If you are looking for an automated and end-to-end practice workflow individually, you can opt for NueMD without a second thought.

Conclusion:

Among the five DME medical billing and coding outsourcing service providers, 24/7 Medical Billing Services tops the list because you get everything you need for an accomplished medical billing and coding service with them. In the end, all you need is a trust keeping your entire data in a company that can assure you in every stage of the billing process, which 24/7 Medical Billing Services can definitely provide you.

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Top 5 EMR/EHR Software used in Medical Billing Industry

The Electronic Medical Record (EMR) and the Electronic Health Record (EHR) are two medical software that are designed to deal with the various back-office tasks of a medical facility. The software is used for tracking the patient appointments and billing details, taking down care notes and records of the patient health, and other information at one place. This software is considered as core requirement for those hospitals and clinics that have multiple branches across the country.

Usually, this software provides efficient documentation of medical history and billing along with data extraction and workflow standardization to meet the compliance and regulatory requirements.

Electronic Health Record (EHR) vs. Electronic Medical Record (EMR)

Interestingly, both the terms EMR and EHR can be used interchangeably. While the EMR software is used for referring to the various digital records for internal use, the EHR software is used for managing those digital records. These digital records can be shared internally within the different branches of the same medical facility. EHR software is also used for sharing the patient data securely externally with the patients, other healthcare providers and third-party service providers such as Health Insurance companies etc.

5 Top Medical Billing Software

NextGen Office

NextGen Office is a cloud based EHR that is offered by NextGen Healthcare specifically for the private medical practitioners. It is an integrated practice management solution that includes content specific to various medical specialty. Moreover, it has an easy-to-use patient portal and comes with a claim clearing tab. It supports on Apple or Windows laptops and tablets and is touch screen enabled, compatible with all browsers and is also HIPAA compliant.

With this tool, you can take notes and place them into clinical documentation directly. Some of the features that you can avail with NextGen Office are:

·        MIPS reporting/ Dashboard

·        Automation of insurance eligibility

·        Scheduling of patient appointment

·        Refill requests

·        Medical tele-consultation

·        Connection with the connect team

·        Referral exchange

ChiroFusion

ChiroFusion is a cloud based EHR solution that are mainly aimed for use by the chiropractors. With the help of this tool, you can manage the main clinical activities like scheduling appointments, reporting of health data and of course medical billing. It offers an integrated practice management with features that can allow you to not only schedule patient appointment but to also send reminders to both the patient and the doctor. It is great for creating reports and bill patients for medical consultations and services. One of the best features of ChiroFusion is that it takes real time back up of all the medical and clinical records automatically in an online repository. Moreover, the portal is easy to handle and patients can check-in with tablet or iPad and submit their medical history to have access to prescriptions, pay bills and a lot of other similar tasks.

Kareo

Kareo is a web based EHR that is popular amongst the physicians across the United States. This is one of the best medical billing and practice management tool for the small practices and billing companies. With this tool, being a practitioner, you can undertake various medical-related tasks such as:

·        Scheduling of patient appointments,

·        Confirming the insurance,

·        Storage of the patient health data and other documents,

·        Management of delinquent accounts and collection process,

·        Development of customized reports, and many other tasks.

Kareo EHR can be used for all kinds of medical specialties such as mental health, pediatrics, family medicine, chiropractic, cardiology, podiatry, etc.

Brightree HME/ DME

BrighTree is an intuitive workflow tool that handles the HME workload rather efficiently making complex task simpler. This is an all-in-one cloud-based software platform that brings all tasks from patient appointment to collection, scheduling to inventory, and delivery to billing under the same umbrella and makes them easy. Difficult tasks like filing, billing and insurance claims can be made much easier for you to collect it more effectively by making it automated. BrighTree also offers analytics, business intelligence and other reporting tools to help you to make smart and informed financial decisions.

DMEWorks

DMEWorks is an affordable, completely automated and comprehensive business management solution especially useful for Home Medical Equipment (HME)/ Durable Medical Equipment (DME) and Respiratory services providers. Some of the best features of this software are:

·        Document imaging

·        Purchase order

·        Retail point of sale

·        Inventory bar coding

·        Private insurance claiming

·        Electronic billing etc.

DMEWorks makes it simple to deal with the private insurance claims by creating and submitting the required documentations and also managing the insurance denials. Moreover, this tool will give you the freedom to respond to the new age audits. You can also use this tool to handle the insurance claims more efficiently, thereby earning higher profits.

Conclusion

There are numerous EMR and EHR software available in the market. But often it becomes difficult for the healthcare professionals to choose and implement the right software for handling their requirements. Most of these tools require various customization to match up the clinical requirements of medical institutions. In such a situation, a best choice is of course to outsource the medical billing and coding tasks to Info Hub, an experienced offshore company. We have the right experience and the expertise to help you in identify and offer the right solution for your medical billing task that is customized as per your specific requirements.

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DME Billing Services – Should Practices Outsource Or Have An In-House Team

A complicated procedure like DME billing (Durable medical equipment) will be very challenging for anyone unless they assign professional billers and coders to do it for them. There are several complications involved in the process of obtaining payments, from validation of the patients to getting authority beforehand, use correct forms to submit the claims, etc.

Apart from the other skills, it requires the person to have a profound understanding of the reimbursement protocols for all the services provided.

A skilled DME billing service company or in house team should be able to double-check on document collections, incomplete prescriptions, verification of insurance on rental items, handle real-time transaction audits, verify primary and secondary insurance, HIPAA compliance, etc.

Some of the other leading obstacles that are involved in getting DME reimbursement is because they don’t develop a complete treatment happening. It would only be a fraction of the procedure and their requirement banks on the doctor’s recommendation.

Several different scenarios can require the DME billing services to be dealt with by an in house team or outsourced to a professional medical billing services company, and those reasons vary with each having its perks for different reasons.

Outsourcing or in house team?

If you run a small private clinic or are an independent physician, then customized outsourcing of the billing services is the ideal option to get the best possible option for you. However, if it’s a large clinic or hospital, then it’s essential to have an in-house team as it is crucial to keep it up to date regularly for a big institution.

By outsourcing the process, you make it easier on yourself in the long run as they are professionals who have teams with professional billers and coders who have detailed insight on the documentation requirements for DME.

They would also be able to provide consistent services in terms of quality regardless of the fluctuations happening in the industry regarding the changes in reimbursement regulations, documents, etc. and would assist with the complete reimbursement for the executive activities.

Outsourcing services also provide all the information from the identification of available insurances for reimbursement to preparing the claims and submitting them in time. Along with providing these services, they could also assist you with developing some physiological explanations of the disease, impairment, injury, etc. and the reasons for using specific equipment for that particular ailment.

Outsourcing companies for DME billing services prepare the claims, along with valid codes, submits them, and follow it up with the insurance providers to ensure that you get paid on time. It also helps you and your employees to concentrate on the critical medical operations that you need to take care of without worrying about the billing and collection aspects.

They work on all the necessary procedures and software complexities to prevent it from leading to denials of the claim, and they also make sure that they streamline the billing process for you.

If you have a small clinic or are an individual practitioner, then it’s more beneficial to get a professional to outsource your DME billing jobs to as they’ll be able to create custom strategies for your business to get the best possible outcome.

An in house team can be important for larger medical hospitals that have various departments of specialties and a substantial amount of complications regarding the DME billing processes because they don’t have to pile up the work to get it outsourced and it can be completed then and there.

With an in house team, you’ll be able to file the documentation quickly simultaneously without any delay or significant mistakes with the information as it’s obtained directly from the source. It’s easier to check up on incomplete prescriptions and bills if the team is in the hospital itself, and this way, it reduces the risk of any errors that would lead to denial of the claim.

However, to get the best possible results, you must make sure that you hire competent individuals who are experienced and can do the job correctly.

Regardless of what option you choose, both those options should be able to track and follow up on the incorrect or partially correct payments, provide a highly error-free transaction, denial management, customized reporting, etc.

So, in the end, it all depends on what is the most appropriate option for you and your practice.

Read more :https://www.247medicalbillingservices.com/blog/dme-billing-services-major-changes-expected-in-2020/

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Maximize Accuracy and Revenue with DME Billing Outsourcing

Outsourcing Durable Medical Equipment (DME) billing can significantly enhance your practice’s financial health. Handling DME billing in-house often leads to challenges like coding errors, claim denials, and compliance issues. With ever-changing regulations and payer requirements, it becomes crucial to have a specialized team managing the process.

Why Outsource DME Billing?

Improved Accuracy: Professional billing teams are well-versed in DME-specific codes, reducing errors and minimizing denials.

Cost Efficiency: Save on staffing, training, and technology expenses by leveraging external expertise.

Enhanced Compliance: Stay ahead of regulatory changes with a dedicated team that ensures adherence to the latest billing standards.

Better Cash Flow: Faster claim submissions and efficient follow-up processes result in quicker reimbursements.

Focus on Patient Care: Free up your in-house staff to concentrate on providing quality patient care.

Choosing the Right Partner Select a billing service that offers:

Expertise in DME-specific billing processes.

Robust denial management and follow-up strategies.

Transparent reporting and performance metrics.

Scalable solutions to match your practice size and needs.

By outsourcing your DME billing to experienced professionals, you can streamline operations, reduce costs, and ensure consistent revenue growth. Make the smart move today to boost your practice’s efficiency and profitability!

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Durable Medical Equipment(DME) Billing Services in Saint Paul, Minnesota (MN)

Leading Durable Medical Equipment (DME) Billing Services provider in Saint Paul, Minnesota (MN). 12+ years of expert DME Billing Services. Call 888-502-0537

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What is Medical Billing?

When it comes to settling payments from insurance companies, medical practitioners, hospitals, and healthcare facilities face a lot of hassles. For the patients, the bill is settled once they provide the details of their insurance at the front desk of the healthcare facility. However, the hospital or healthcare center receives the reimbursements only when the claim is settled by the insurance companies.

Medical billing refers to the process of filing and following up on claims with health insurance companies / providers in order to receive payments for the healthcare services rendered to patients by the practices / physicians. Medical billing serves as an effective channel between medical service providers and insurance companies.

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Need of Medical Billing Services

With time, as the medical practice scales to new heights and grows, medical practitioners, doctors, and healthcare providers would need to delegate the medical billing task by hiring an in-house team of experts or outsourcing the task to a medical billing service provider.

The objectives of medical billing services are as follows:

·         Boost the profitability of medical practitioners and healthcare centers

·         Streamline everything from start to end (Patient Appointment Scheduling to Collections)

·         Leverage on coding expertise and technical knowledge to maximize revenue generation from insurance payments

·         Reduce the chances of claim denials

·         A/R Follow up to reduce the accumulated A/R

 Common challenges faced by Physicians and Practitioners with Medical Billing

·         Lack of quality and effective medical billing resources

·         Lack of appropriate tools and techniques to minimize revenue loss

·         Staying up-to-date with the latest guidelines

·         Inaccurate data entry for patient information

·         Frequently changing medical billing codes increase the chances of claim denials

·         Old redundant software and the capital investment to upgrade it frequently

·         Duplicate charges or multiple billing for a patient

·         Late handling of denied or rejected claims

·         Delayed claim submissions

Cons of In-house Medical Billing: 

In-house billing refers to the process of handling all the medical billing aspects by a medical practitioner’s own expert in-house team.

However, keeping everything in-house has a lot of disadvantages.

1) Highly Expensive

Having an in-house medical billing practice involves a lot of capital expenditure and investment in getting a medical billing software and recruiting a team that knows how to operate the software. The cost incurred for recruiting, training and salaries of the medical billing team would definitely be more than the cost to outsource.

2) Support Issues

A major drawback of having an in-house medical billing team is the ability to provide the required support to the clients. If a limited number of medical billers are hired, it would be difficult to handle a larger client base. On the contrary, having a large team for limited number of clients means more expense for the business.

3) Liabilities

Having an in-house medical billing team means that they need to be constantly monitored with regards to the security protocols and compliance guidelines followed by them. Any violations of PHI security or protocols can result in huge liabilities for the company. In order to get rid of the liabilities, a lot of cash inflow needs to take place.

Need for Outsourcing Medical Billing Services

Outsourcing medical billing refers to the hiring of an external agency by a healthcare provider who takes care of all the medical billing aspects.

Outsourcing is an effective way to manage medical billing. According to Verified Market Research, the medical billing outsourcing market worldwide was valued at 7.4 billion USD in 2018 and is expected to reach 15.6 billion USD by 2026.

In reality, medical billing can be quite tedious and a time-consuming task for medical practitioners. In order to overcome this, it makes sense for them to outsource the processing of medical claims. This would allow them to free up both time and space, thus enabling them to focus on what they do best, i.e. take proper care of the patients. Choosing the option to outsource limits their liability and helps to save capital in the long term.

 Benefits of Medical Billing Outsourcing

1) Boost in revenue generation

Medical billing outsourcing helps healthcare providers, especially small practices to collect more money and improve cash flow. This is because collection rate improves with timely submission of medical claims. This increases the inflow of reimbursements from the side of the insurance companies.

2) Compliance with ICD-10

The latest version of the International Classification of Diseases (ICD), i.e. ICD-10 is a growing concern in the healthcare and medical industry. The new coding changes as per ICD-10 has resulted in a severe impact on the reimbursements of healthcare providers. Outsourcing medical billing means that compliance regulations and coding changes of ICD-10 will be taken care of by the service provider.

3) Saves money

One major benefit of outsourcing medical billing is that it is cost effective and helps healthcare providers and medical practitioners save money. The infrastructure, expertise and procedures, everything comes at a lesser price when outsourced. Thus, outsourcing medical billing is a profitable decision.

4) Improved focus on patients

By outsourcing billing, medical practitioners can spend more time with their patients and offer better services to them. This is because they do not have to look into the medical billing work. More focus and attention to patients means more satisfaction and quality patient care.

5) A/R follow-up

The accounts receivable (A/R) follow-up by the outsourced medical billing company ensures easy recovery of overdue payments from the insurance companies. The A/R follow-up team takes care of the denied claims and reopens them to get the maximum compensation from the insurance companies.

6) Denial management

The main aim of the denial management process in outsourcing medical billing is that it focuses on minimizing the lost reimbursements and denials with highly efficient systems and solutions. The denial management team of the outsourced company works on resolving the problems that lead to denials and strives to cut-short the accounts receivables cycle.

7) HIPPA Compliance

While choosing to partner with a medical billing service provider, it is necessary to ensure that the company is HIPPA (Health Insurance Portability and Accountability Act) compliant. An HIPPA compliant medical billing service provider needs to ensure that all the patient’s records and personal information is kept completely secure and confidential. HIPPA compliance requires healthcare entities to ensure complete privacy of patients’ sensitive information.

8) Reduced Billing Errors

Outsourcing medical billing services helps medical practitioners to minimize billing errors. The medical billing service provider leverages on various technologies to reduce billing errors. Any medical billing mistake results in loss of reimbursements, thereby affecting the revenue. Medical billing errors can be reduced by ensuring and verifying that all the patient details are correct, investing in training and avoiding duplicate claims.

Why choose 24/7 Medical Billing Services?

·         One stop shop solution for all your medical billing needs

·         Customized services depending on the nature of your challenge

·         Improved cash flow and collection rate of your healthcare center

·         Multi-level authentication and security system in place for data security

·         Reduced operational costs of your medical center

·         Fixed cost for all services with no hidden charges

·         Strict deadlines for reimbursements from insurance companies

·         CPT and ICD-10 coding compliance eliminates hassles in filing a claim

·         Skilled expertise in different domains

·         Competitive pricing for all medical billing related services

·         Flexible plans depending on your requirements

·         Complete transparency for all procedures

·         Detailed reporting of your account’s receivables

 24/ Medical Billing Services has been in the industry for more than 12 years now & We have been offering end-to-end Revenue Cycle Management services for huge practices & multi-specialty clinics. We specialize in Durable Medical Equipment (DME) Medical Billing, Chiropractic Medical Billing, Tele-Health Billing & close to 40 other specialties.

Free Credentialing

Credentialing is a key step of becoming a trusted medical practitioner and healthcare provider in the list of medical insurance companies in the market. It is essential for healthcare service providers to be a part of the insurance company’s network. If they are not a part of the list, many patients may refuse to take treatment.

At 24/7 Medical Billing Services, as a part of an on-going promotional offer, we are providing free insurance credentialing to doctors, hospitals, and small practices who partner with u as a part of the medical billing services. We verify and update the credentials of healthcare providers with insurance companies at regular time intervals. Credentialing serves as an effective medium to be recognized by insurance companies and get paid by them for the services rendered to patients.

Want to know more? Let’s connect!

Media Contact –

Hari Sudan, Media Relations,

24/7 Medical Billing Services,

16192 Coastal Hwy,

Lewes, DE – 19958

Tel: + 1 -888-502-0537

Email - info@247medicalbillingservices.com

Website – www.247medicalbillingservices.com

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3 Advantages to Outsourcing Your Medical Billing and Practice Management

Medical billing and practice management can be a very complicated task for a medical office to undertake. Some offices choose to hire trained medical billers to work full time in the office, and other medical offices choose to outsource their medical billing and practice management services. Other medical offices have done a little of both, and there is no right or wrong answer. However, there are 3 really great advantages to outsource medical billing and practice management services.

1 Reduce Labor Cost

Most small businesses are concerned with cost. Maintaining a medical billing department can be very costly. The rule of thumb is that for every 2 doctors in a practice, an office should have 1.5 workers. With the average salary for a trained and experienced medical billing professional at about $35,000 per year plus benefits, hiring 1.5 workers can cost over $50,000 yearly. Benefits would include health insurance, dental insurance, life insurance, 401K, unemployment insurance, and various other taxes that an employer must pay when they choose to undertake a new employee. In addition to those cost, there are miscellaneous cost that is associated with providing those medical billers the equipment and supplies that they will require to adequately complete their job tasks. These expenses will include software, worker’s compensation insurance, postage, clearinghouse fees, HCFA/CMS-1500 forms, paper, printers, additional computers, envelopes, and office furniture. Outsourcing medical billing to a reputable company such as Bikham, can save you 30% – 40% of your annual cost. Maintaining a medical billing department in house, can be very costly, so if you can find a reputable company to outsource your billing to, it is in the best interest of your business to at least listen to how they may be able to help you reduce your overall cost.

2 Focus on Patient Care

Physicians spend years and years in undergraduate school and medical school. During those years of being inundated with information that can help save human lives, physicians do not learn much about billing and fighting with insurance companies. In fact, most doctors know very little about Insurance. However, it is not an expectation that they should be efficient at medical billing. In fact, Physicians cannot be efficient at their job, if they are always stressed about the finances of their practice. This is a specific advantage to small practices because a doctor can focus on providing excellent care to their patients, while a medical billing team handles all of their medical billing and practice management services. Outsourcing Physical Therapy medical billing and practice management services are particularly advantageous for smaller practices because they may not have the money to afford a large medical staff. Therefore, by outsourcing these services they will have access to a team of experienced medical coders, medical billers, and A/R representatives.

3 Reduce Billing Errors and Turn Around Time

Most doctors would like to get paid for services they render to their patients, within weeks of providing those services, instead of months. Well, when there are errors in your billing methods, it can take months to receive payment. However, when you send out clean claims, those claims will get paid within weeks. That is why one of the mantra’s we have at Bikham Medical Billing and Consulting is get the claim out the door cleans the first time. When you consider outsourcing you allow professionals and experts to take over tasks where mistakes can be very timely and costly. We have been educated and re-educated about the constant changes in the industry, in regards to new codes, out of date codes, modifiers and more. All of these things must be taken into consideration when claims go out to each and every insurance company for services. Medical billing and practice management services are one of the most important aspects of a medical office because a great percentage of your income can come as a direct benefit of having a great medical billing and practice management company in your corner.

As you can see, outsourcing medical billing and practice management services can be a great advantage to physician’s practice’s, large and small. The greatest thing that will determine your success is the efficiency of your medical billing department. Outsourcing medical billing can increase your revenue from 5% – 30%.

If you would like to know if outsourcing medical billing and practice management services can benefit your practice, contact us on Bikham.com, and we will tell you how you can get a Free Practice Cost Analysis. This way you can see in real numbers, just how advantageous outsource medical billing and practice management services can be. Outsource Medical billing with Bikham.. Bikham is one stop solution for DME medical billing, Lab medical billing, Laboratory medical billing, Cardiology Medical Billing, Dental Medical Billing, ORTHOPAEDIC Medical billing, oncology Medical billing, Physical therapy Medical billing, Chiropractic Medical billing, Radiology Medical Billing, Emergency room billing. for More visit us on https://www.bikham.com

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REASONS FOR REVENUE LEAKAGES IN DURABLE MEDICAL EQUIPMENT (DME) BILLING

Revenue leakages are a major concern in the healthcare industry. They are the difference in the claimed amount that healthcare providers are entitled to receive versus the amount of the reimbursement they actually receive. This phenomenon is especially common in the Durable Medical Equipment (DME) billing & coding industry because of the inherent cumbersome nature of DME billing.

·       As per the Harvard Business Review, the top hospitals have lost hundreds of millions of dollars of income due to revenue leakages.

·       As per American Hospital Association, all kinds of U.S. hospitals reported approximately $620 billion in uncompensated care costs since 2000.

Top reasons why revenue leakages happen in DME billing and coding:

·       Denial of claims: 20% of all revenue loss is due to denial of claims. Claims can majorly be denied if:

1.     Demographic Information of the patient is incomplete.

2.     Information is missing or invalid.

3.     Medical Necessity of DME usage is not clearly mentioned.

4.     CPT code, Modifier, PIN, or NPI is incorrect or missing.

5.     Duplicate claim or service is found.

·       Inaccurate codes: Another common reason for revenue leakage is incorrect coding of accessories or equipment. Only when the DME biller identifies the right HCPCS level II codes and sends over the claim with authorization paperwork, the insurance company will pay the claim.

·       Non-compliance: All the guidelines laid down by the Health Insurance Portability and Accountability Act (HIPAA) and the Office of the Inspector General (OIG) must be followed to the last bit in order to prevent complete rejection of your claims and thereby leakages in revenue.

·       Lack of real-time monitoring: There’s no substitute to correct and real-time data. If that’s not available and there are discrepancies in your data, be sure of major revenue leakages. Why? Because without real-time data, decisions will not be backed up by accurate data. For example, if the insurance policy does not cover a specific treatment, this can be communicated to the patient and the provider beforehand so that there are no issues in the DME billing.

·       Incorrect data: Inaccurate data entry in the database can give rise to mismanagement of funds and thereby revenue leakage. Until the data is meticulously collected and analyzed by experts, error-free billing is a distant dream.

·       Failure to Follow-up: Failure to follow-up regularly can sometimes lead to non-payment of claims. If there’s a delay or the claims are outrightly rejected, DME billers need to follow up or resubmit the claims to avoid revenue leakage.

·       Lack of expert guidance: By now you know that DME billing is an exhaustive process and must not be handled without expert guidance. Revenue leakages mainly happen when non-professionals venture into it and do not adopt DME billing outsourcing. Billing professionals can help you avoid errors, identify loopholes, get payments on time, manage denials and rejections of claims, and streamline the entire billing process so that you receive the payments you deserve.

 The first step to avoid all forms of revenue leakage in DME billing and coding is to identify the loopholes. By giving the process in the hands of experts, you ensure that you’re focusing on what you’re best at – treating patients, which by the way will lead to revenue generation in the long run.

 About 24/7 Medical Billing Services

24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%. Call us today at 888-502-0537 to know more on how we can help boost profitability for your practice.

Contact Us –

Media Relations,

24/7 Medical Billing Services,

16192 Coastal Hwy,

Lewes, DE – 19958

Tel: + 1 -888-502-0537

Email - info@247medicalbillingservices.com

Website – www.247medicalbillingservices.com

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DME Billing Services – Should Practices Outsource Or Have An In-House Team

A complicated procedure like DME billing (Durable medical equipment) will be very challenging for anyone unless they assign professional billers and coders to do it for them. There are several complications involved in the process of obtaining payments, from validation of the patients to getting authority beforehand, use correct forms to submit the claims, etc.

Apart from the other skills, it requires the person to have a profound understanding of the reimbursement protocols for all the services provided.

A skilled DME billing service company or in house team should be able to double-check on document collections, incomplete prescriptions, verification of insurance on rental items, handle real-time transaction audits, verify primary and secondary insurance, HIPAA compliance, etc.

Some of the other leading obstacles that are involved in getting DME reimbursement is because they don’t develop a complete treatment happening. It would only be a fraction of the procedure and their requirement banks on the doctor’s recommendation.

Several different scenarios can require the DME billing services to be dealt with by an in house team or outsourced to a professional medical billing services company, and those reasons vary with each having its perks for different reasons.

Outsourcing or in house team?

If you run a small private clinic or are an independent physician, then customizedoutsourcing medical billing services is the ideal option to get the best possible option for you. However, if it’s a large clinic or hospital, then it’s essential to have an in-house team as it is crucial to keep it up to date regularly for a big institution.

By outsourcing the process, you make it easier on yourself in the long run as they are professionals who have teams with professional billers and coders who have detailed insight on the documentation requirements for DME.

They would also be able to provide consistent services in terms of quality regardless of the fluctuations happening in the industry regarding the changes in reimbursement regulations, documents, etc. and would assist with the complete reimbursement for the executive activities.

Outsourcing services also provide all the information from the identification of available insurances for reimbursement to preparing the claims and submitting them in time. Along with providing these services, they could also assist you with developing some physiological explanations of the disease, impairment, injury, etc. and the reasons for using specific equipment for that particular ailment.

Outsourcing companies for DME billing services prepare the claims, along with valid codes, submits them, and follow it up with the insurance providers to ensure that you get paid on time. It also helps you and your employees to concentrate on the critical medical operations that you need to take care of without worrying about the billing and collection aspects.

They work on all the necessary procedures and software complexities to prevent it from leading to denials of the claim, and they also make sure that they streamline the billing process for you.

If you have a small clinic or are an individual practitioner, then it’s more beneficial to get a professional to outsource your DME billing jobs to as they’ll be able to create custom strategies for your business to get the best possible outcome.

An in house team can be important for larger medical hospitals that have various departments of specialties  and a substantial amount of complications regarding the DME billing processes because they don’t have to pile up the work to get it outsourced and it can be completed then and there.

With an in house team, you’ll be able to file the documentation quickly simultaneously without any delay or significant mistakes with the information as it’s obtained directly from the source. It’s easier to check up on incomplete prescriptions and bills if the team is in the hospital itself, and this way, it reduces the risk of any errors that would lead to denial of the claim.

However, to get the best possible results, you must make sure that you hire competent individuals who are experienced and can do the job correctly.

Regardless of what option you choose, both those options should be able to track and follow up on the incorrect or partially correct payments, provide a highly error-free transaction, denial management, customized reporting, etc.

So, in the end, it all depends on what is the most appropriate option for you and your practice.

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5 Excellent DME Medical Billing Companies

Durable Medical Equipment (DME) billing & coding companies are most wanted by medical practices as they may find DME billing & coding a strenuous job. Many hospitals proceed with outsourcing the medical billing process because of the stringent processes it follows. There are many DME billing companies to handle these toughest and time-taking tasks efficiently.

We are going to see about 5 topmost DME medical billing companies and what keeps them so unique. These companies deal with DME coding as well. Outsourcing DME billing and coding completely takes off the billing errors and reduces your investment in both time and money. By doing so, you will be able to concentrate totally on patient care and stay away from the stress factor.

Top 5 medical companies in the USA:

#1: 24/7 Medical Billing Services

This is one of the topmost medical billing and coding companies that offer professional and profit-yielding care to your DME billing and coding needs. The company is more than a decade aged in offering excellent and extended medical billing services to several clients. One best reason for you to choose this company as your outsourcing partner would be it has certified cross-functionality experts in service.

Moreover, 24/7 Medical Billing Services easily adopts and adapts to any technological changes and thus, impresses you with this top-notch attribute. It maintains all data under one roof and avoids confusion and stress when the DME billing process is under progress. The company always goes the extra mile to accomplish your needs as per your requirement, giving customization the priority. It follows deft rules and policies in the aspect of data security and charges ensuring transparency throughout.

When you are in an urge, the company provides you with quick innovative solutions and highlights you in the crowd. If you choose 24/7 Medical Billing Services as your DME medical billing & coding outsourcing partner, it makes you feel filled and happy for the worth you invest in.

#2: Info Hub Services

If your entire focus is on optimizing reimbursements and avails a quality service then Info Hub Services stands out to be one of the best DME medical billing companies. It has well-trained and experienced resources who can handle your requirements by breaking the complexity involved if any. Adhering to HIPAA rules makes it more prominent in terms of data security.

It follows a simple contract sign-up process with all your customizations and mandates included. This, in turn, makes it easy for the communication, project kick-off, internal training, and other activities involved in the process.

#3: Advanced MD

Advanced MD features extraordinary revenue optimization software, which comes with scheduling and financial reporting, making DME medical billing much easier than before.  The company offers a unified platform to manage your entire claims processing all under one roof. It integrates your entire claim data to the Clearinghouse and brings down the time and hassle on uploading claims & downloading remittances.

You can easily get your uncollected patient’s payments through Advanced MD’s online payment solutions, which is a handy technology.

#4: Kareo

If you are looking for a seamless experience of processing medical billing and coding with independent software, in a streamlined manner, Kareo is your best choice. The company offers unique and relevant high-end solutions that allow you to focus on your patient care and deliver outstanding patient satisfaction while building a healthy practice.

If you are an emerging practitioner and have enough time to manage your claims, you still can get your customized software from Kareo.

#5: NueMD

NueMD offers cloud-based medical billing software, which is easy-to-use and surrounded by complete security as well. If you are looking for an automated and end-to-end practice workflow individually, you can opt for NueMD without a second thought.

Conclusion:

Among the five DME medical billing and coding outsourcing service providers, 24/7 Medical Billing Services tops the list because you get everything you need for an accomplished medical billing and coding service with them. In the end, all you need is a trust keeping your entire data in a company that can assure you in every stage of the billing process, which 24/7 Medical Billing Services can definitely provide you.

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