The coronavirus or COVID-19 has led to a hike in requirements for DME services and equipment coupled with ever-changing insurance needs resulting in suppliers worrying about more claims submission errors and high-cost employee training expenses. By outsourcing the DME billing processes, the givers are finding remarkable time and money reserves while being able to help more patients and healthcare professionals. Look into these top billing outsourcing benefits that are a crucial component of DME providers’ ability to keep pace with a quickly modifying industry.
Eliminating COVID-19 coupled Billing Challenges
As the necessity for DME services and equipment are seen to rise across the nation, providers are searching for different ways to fix a series of new logistical and economic challenges. Social distancing, amended company policies for safety, local stay in place orders and the effect of employees testing positive can all profoundly affect office policies, procedures, workload distribution, and workload proficiency.
As an illustration, infected individuals who have been in contact with other employees may cause a person that provides up to 14 days of office quarantine who brings efforts to aid patients and the healthcare community to a suspended halt. Even if no variation is made to the number of employees, the DME billing departments are being out-run with a surge in claims submissions.
Beside outsourcing DME billing services, giver are finding the liberty and flexibility to focus on serving the best to the needs of the community. Instead of spending time and money over planning about how to fulfill claims submission with COVID-19 infected employees or follow up on payments when the billing team is deluge with the extra workload, providers are able to transfer the focus to doing what they do best – serve the healthcare industry and patients in-person with critical services and equipment. Furthermore, resources spent on billing may be re-allocated to provide better support to other areas of the business.
Talking of resources, AccQdata’s DME Billing and Consulting Services reports are able to provide clients with a savings of 10 to 50% in increased DME revenue! This is increasingly due to their team vaunting more than 75 years of combined experience and a 100% focus on DME billing and reimbursement. As a matter of fact, the team also records having saved clients over $20 million dollars in 2017 with a 97% collection rate!
An important reason that the team at AccQdata’s Billing and Consulting Services is so successful is their vast understanding of each insurance carrier’s preferences and unique needs of claims. This is a sensitive area for many providers as each carrier has a slightly different process. Additionally, DME providers appreciate outsourcing to a team that goes beyond simply scrubbing the claim by reviewing each and every claim component before it gets submitted. This kind of knowledge is in-evitable to providers when it comes to finding extra revenue which may, in turn, present more opportunities to help a larger volume of patients during this unprecedented time.
Performing Stress-Free AR Management
Till this point, it is easy to see how much more smoothly billing departments would work with a dedicated team applying over 75 years of combined experience towards correcting claims and solving reimbursement issues. However, other services such as finding patterns of coding mistakes, daily posting payment details and accounts receivables (AR) management also contribute to the smooth billing operations that can lead to increased revenue. By outsourcing their AR management, providers are advised on such factors as age if patient’s claim history, and dollar amount overdue. The team at AccQdata Billing and Consulting Services offer clients the option to then determine the next steps that follow based on the data collected. If continuing the payment is the action decided, it might be far less stressful to let an objective third party contact patients, especially when the individual has made a trusting bond with the provider’s staff. This way, the trust stays entire as an outsourced party collects the owed sum.
Many times, a billing department’s employees are in need of transitional or DME training. Making use of outsourced partners like AccQdata Billing and Consulting Services to train billing employees on topics like that of, the current insurance requirement changes amidst COVID-19 and latest coding updates is another way to make sure of accuracy and deduce the amount of time in between claims, submissions and payments.
Consequently, when it comes to DME billing, outsourcing has become an increasingly important way for providers to save both time and money. With an urge in demand for DME supplies and a possible reduction in staff due to COVID-19, working with partners like AccQdata Billing and Consulting Services might become an important asset that affords providers the chance to serve a larger population in need. Read more about the amazing ways of DME billing services, helping companies like yours, get paid faster, spend less amount of time on corrections and more time helping and serving the community.