Uploaded on Jun 10, 2020
With the rise in the number of aging patients, market for durable medical equipment is expanding. It is also growing because patients now desire to stay in their homes. It is expected that the global durable medical equipment market will display growth by a CAGR of 6.14% during 2018-2023. But if effective billing practices are not in place, then getting paid will become a challenge.
Error-free Billing for Durable Medical Equipment in Michigan
Error-free Billing for Durable Medical Equipment in
Michigan
http://www.247medicalbillingservices.com
Error-free Billing for Durable Medical Equipment in
Michigan
With the rise in the number of aging patients, market for
durable medical equipment is expanding. It is also growing
because patients now desire to stay in their homes. It is
expected that the global durable medical equipment
market will display growth by a CAGR of 6.14% during
2018-2023. But if effective billing practices are not in place,
then getting paid will become a challenge.
Error-free billing for durable medical equipment is critical
because even if one medical device is billed incorrectly, it will
result in a loss of thousands of dollars. Also, unlike most
clinical procedures, DME billing suffers from various
challenges. To maintain a steady cash flow, it is necessary to
have an expert team that handles audits, claims submission
, follow-ups and so on. DME billing setbacks can be dealt
with ease and billing costs can be reduced by 80%.
http://www.247medicalbillingservices.com
Error-free Billing for Durable Medical Equipment in
Michigan
By hiring a reliable billing partner, Billing companies also
ensure 100% HIPAA compliance along with offering monthly
customized reports Quite often, providers get substantial
orders for supplies but they fail to recover the expected
revenue due to inexperienced billing staff and their inability to
work around an effective DME revenue process.
For instance, DMEs are mostly ancillary services and are often
deemed as medically unnecessary. Also, at times, prescribed
DME doesn’t meet the permitted reimbursement level and if
there is a lack of HCPCS (Healthcare Common Procedure
Coding System), then also timely payments become a
challenge.
Since DME Billing Service Provider has also been hit by
regulatory changes such as the Final Rule, having a team of
expert billers and coders has become a necessity.
http://www.247medicalbillingservices.com
Error-free Billing for Durable Medical Equipment in
Michigan
CMS has made it necessary to establish a prior authorization
process for some orthotics, DMEs, prosthetics, and supplies
under this rule.
Now practice managers have to build a proper prior
authorization process which is quite time-consuming.
Complications involve in creation of this process affect
revenue generation and billing in negative manner.
Considering the challenges 2018 is posing for DME Billing
Services, seeking support from a professional billing company
is the only hope. From navigating through difficulties in
insurance approvals and permissible level of reimbursement to
HCPCS, a reliable billing company will have the expertise and
experience to help practices fight common DME billing
challenges.
http://www.247medicalbillingservices.com
Error-free Billing for Durable Medical Equipment in
Michigan
About 24/7 Medical Billing Services:
We are a medical billing company that offers ‘
24/7 Medical Billing Services’ and support physicians,
hospitals, medical institutions and group practices with our
end to end medical billing solutions. We help you earn
more revenue with our quick and affordable services. Our
customized Revenue Cycle Management (RCM) solutions
allow physicians to attract additional revenue and reduce
administrative burden or losses.
Contact:
24/7 Medical Billing Services
Tel: +1 888-502-0537
Email: [email protected]
http://www.247medicalbillingservices.com
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