How to Establish High HME Billing Standards?

HME billing encompasses all revenue cycle management activities and always begins with referrals from:

• Clinics
• Hospitals
• Physicians

Consumer attitudes toward healthcare have already shifted as a result of the advent of this global epidemic. A patient-driven paradigm of value-based care that maximizes performance is today’s buzzword. Many HME suppliers are looking for dependable assistance from RCM vendors. On the other side, finding a pool of billers who understand HME billing and consulting can be tough. Labor shortages are a huge concern despite so many firms providing HME billing services.

DME/HME clinics are Booming

While the number of pandemic cases in the United States continues to decline, the demand for oxygen equipment and supplies is increasing. The constant burden on supply networks and logistics is challenging. Reevaluating the expenditures and general operations involved with equipment to keep patients alive and well claims a major part of caregiver’s time. It paints a clear picture of how well you are positioned as an HME provider and what chances exist to grow your business.

According to several experts, the entire home accessibility market is at a tipping point and will experience fast growth by the end of this year, peaking in 2022. Currently, if you are an HME supplier, you require assistance in tackling your RCM difficulties. You require someone who can help you continuously lower your operational costs.

However, in these difficult times, finding a provider who can handle all of your HME billing needs can help to alleviate your collection concerns. At the end of the day, you need a dependable partner who can assist you in closing all the gaps in your front and back end demands.

Here are 5 simple yet effective tips for improving your DME/HME billing procedure and performance:

Verification of insurance coverage

This is crucial to ensuring that when DME and HME providers are paid, the patient’s insurance coverage is carefully reviewed, and the equipment is covered by Medicare or insurance. If this is not the case, payment delays and resubmissions may occur, which could be costly in the long term.

Staff with relevant experience

The HME billing team must be highly skilled and knowledgeable about all of the many rules and complex criteria required for claim submission. The rapid changes in healthcare can have a significant impact on RCM procedures, and DME/HME services may face a dramatic decline in reimbursement rates. As a result, a skilled worker who is well aware on all such requirements can prevent this.

Strict Coding

Coders should be well-versed in coding, particularly when it comes to DME/HME billing services. A slight inaccuracy in a claim code, such as a transposed number or simply inserting an obsolete modifier, might cause a claim to be disregarded or declined, resulting in a loss of timely compensation.

Process for Effective Claims Management

Following up is another critical and useful step in ensuring a smooth DME/HME billing cycle. It is common knowledge that many DME/HME services lose up to 7% of their reimbursements owing to rejections. This inefficient claims management system is costly to the RCM of any medical practice.

Technological Advancement

Automation of electronic health records (EHR), rapid enhancement of Practice Management systems, improved tracking, and warning systems will all contribute to making the claims process a lot more effective and productive mechanism for raising A/R collections.

• Brightree
• Kareo
• OPIE
• Fast Track

All these software provide a comprehensive and dependable operational arm, making the complex DME/HME billing process considerably more efficient and reduce the possibility of errors.

The way forward

The way forward is to manage your HME billing requirements with a clear understanding of what it takes to close front-end issues. Among the critical questions to consider are:

• What is your plan for dealing with hospital discharges and patient placement?
• What techniques do you employ when dealing with oxygen patients?

Saving money and time is a critical characteristic of modern Oxygen patient environments. Only by focusing on patient care will you be able to manage your patients via telehealth. Working for long hours on your pre-billing job and dealing with burdensome paperwork might be a terrifying experience in the long run.

All you need is a dependable HME billing partner who can help you manage your revenue cycle on both the front and back ends. It will allow you to concentrate on your patients while your partner’s professional staff handles all HME invoicing requirements.

The process might be time-consuming due to the intrinsic nature of DME facilities and billing. All you need to do is take a methodical approach and follow the principles outlined above. The DME/HME billing services can be improved, allowing you to implement a much more successful AR collections operation. The final step is to ensure that your reimbursements keep flowing in order to maintain a consistent and lucrative Revenue Cycle Process.

This is where Sunknowledge comes in

Our ability to give constant assistance is unsurpassed. Our unique experties and ability to give high-quality service at reasonable pricing distinguishes us from the competitors. We understand what it takes to provide outstanding service while increasing your cash flow. Sunknowledge Services Inc aids with both front end and back end invoicing requirements in the HME industry. We can work with any client’s proprietary platform.

Sunknowledge is your one-stop shop for better cash flow, with:

• Unparalleled pricing standards
• Outstanding operational transparency
• World-class productivity indicators

We immediately increase your collections by 70% thanks to our quick and precise prior authorization support. Our HME pre-billing assistance lays the framework for a more effective revenue cycle management experience.

Sunknowledge Services Inc is a medical billing and collections firm that is totally HIPAA compliant. We have the distinct ability to give unequaled integrated reporting while ensuring the required productivity metrics in the HME billing market. Our productivity norms are the most stringent in the industry, and our accuracy standards exceed 99.99%. We are fantastic at increasing productivity, especially with customized practice management solutions.

Sunknowledge is open to new locations and technological frameworks, and we have made significant progress in terms of new technology adoption. We’ve grown as a next-generation RCM destination. Take advantage of the Sunknowledge advantage. We’d be pleased to share our corporate synergy ideas as well as our thorough HME billing action plan with you over a “no commitment conversation”.