Patient Collections: Strategy to success for DME suppliers

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• Patient Collections Strategy to success for DME
  suppliers

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Patient Collections Strategy to success for DME
suppliers

• DME suppliers are living in an era where
  increasing patient liability is adding to the
  growing struggle to maintain a positive cash flow
  and keep their businesses afloat. There has been
  no easy button, but until now.
• One of the biggest mistake DME providers do is
  that without proven methods to identify patients,
  verify insurance coverage, and determine prior
  authorization, they leave revenue behind and pay
  unnecessary high fees to agencies. In such a
  scenario, counterbalancing reimbursement cuts
  through faster and precise DME billing and coding
  has become the number one task.
• Below are strategies of success for DME suppliers
• Verify insurance before the equipment is provided
• Validating insurance, a day or two before their
  scheduled appointment increases your
  charge-to-collection ratio by manifolds. Also, it
  will also give you the freedom to reschedule
  appointment if there are any issues with the
  insurance policy.
• Here are some effective methods to verify
  insurance
• Insurance verification over the phone
• Verification by EMR or billing software utilizat

Medical Billing Services in Oregon
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Patient Collections Strategy to success for DME
suppliers

• Verifying by online payer resources
• You can outsource the work to dedicated DME
  billing specialists as your insurance
  verification expert, so that he can perform the
  verification job without precision.
• Collection at time of service
• Keep in mind that the probability of your
  collection reduces by more than 45 as soon as
  the patient leaves your facility. Hence, make
  sure that you collect coinsurances, co-pays, past
  due balances and projected deductibles at the
  time of providing the equipment. It is always
  advisable to implement a well-rounded check-out
  process that essentially gives you an extra
  chance to collect before the patient leaves.
• Performance measurement and data capture
• The effectiveness of your DME collection process
  will be hindered if at any point in the process,
  the person with access to data is not accountable
  for his performance. Hence make sure that the
  team members you have are in a consistent
  alignment between access to information and
  accountability for performance by monitoring and
  reporting metrics

Medical Billing Services in Oregon
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Patient Collections Strategy to success for DME
suppliers
Utilizing the latest systems EMR and other
latest technological advancements in software has
made it possible to automate daily patient
collections functions for many DME suppliers. So,
why to bear the burden of carrying out these
cumbersome tasks in-house. Leverage the benefits
of a professional DME medical billing company in
USA or in your region so you get more time to
focus on your core activities. Clean claims
equals greater collection The accuracy of
information in your claims is directly
proportional to the collection that is coming in.
In simple words, higher the numbers of clean
claims, the greater will be the financial
stability of your DME facility. Ensure your
billers and coders submit clean claims, which do
not need any extra information for processing,
right at the first go. Clean claims equals
greater collection The accuracy of information in
your claims is directly proportional to the
collection that is coming in. In simple words,
higher the numbers of clean claims, the greater
will be the financial stability of your DME
facility. Ensure your billers and coders submit
clean claims, which do not need any extra
information for processing, right at the first go.
Medical Billing Services in Oregon