In the present scenario, the increase in old people across the globe is one of the important reasons for the rise in DME products and its market. With the demand and the DMEPOS Round 2021 which is opening right around 16th July 2019, the provider’s attention has seen shifted; resulting in deteriorating the revenue cycle. In fact, balancing among the competitive landscape; physicians; constantly changing regulatory guidelines; increased number of patients activities healthcare providers find it difficult handling it all. This numerous tasks in the healthcare sector resulting in a faulty revenue cycle process.
It is important to know that the revenue cycle is equally important along with the above, as increasing revenue has a direct impact on patient care. A proper revenue helps in financing up of necessary resources, equipment, facilities, the technology needed in providing quality patients care.
As years passing by, the durable medical equipment (DME) market is viewing an increase. In fact, a hike of USD 271 billion by 2026 registering a CAGR of 6.1% is forecast in one of a survey of 2019-2026. It is also estimated that technological advancement along with strong reimbursement will be one of the main reason for the boost in the DME market. As the cash flow plays an important role, there are certain
parameters in a successful DME medical billing:
Key metric- it plays an important role in determining the effectiveness and the working process of the organization
Cost effective-after spending a lot in infrastructure employee etc, it is the last thing the healthcare providers want to spend in its billing cost. This is why it is always better to choose an organization that provides the maximum benefit with an amount within your reach is important
Collection rate & Denial management-both of this can increase your A/R cycle and overall cost too. This is why finding a perfect team who are well equipped in denial management, billing and providing real-time support is needed.
Factor to monitor in your DME medical billing:
Sunknowledge Service Inc here perfectly fit for your DME medical billing. Ensuring a 99.9% accuracy rate we guarantee the highest productive metric and can meet and beat any productive metric. We even have a track record of 97% highest first pass collection rate and 30% shrink in your AR bucket within the 1st month itself with an instant 80% reduction in your operational cost. With a service charge of $7 per hour, our well-equipped pool of resources ensures 24-48 hrs turnaround time after receiving any denial.
In fact, we are the only practice management/ revenue cycle management organization offering pre-billing activities which includes data entry (Rx and Dx), eligibility verification online as well as through call, prior authorization verification. Even Doctor Office follow-up and patients calling for attaining the relevant documents along with order confirmation and scheduling of delivery also comes under our pre-billing activities.
Excelling in Pre-billing and Post-billing service which are:
• Order entry
• Eligibility verification and authorization (Online/ calling)
• Insurance verification
• Authorization follow-up
• Collection of needed documents
• Doctor’s office follow-up
• Order Confirmation
• Scheduling of delivery
Post-billing service:
• Claims edit checking and correction
• Claims submission through EDI clearing house at a scheduled time
• Cash posting
• Rejection management
• ERA/EOB posting and reconciliation
• Automatic secondary payer billing
• Denial Management
Our experts are equipped even with after selling CPAP support, where we provide end to end CPAP compliance support by performing tracking, contacting as well as counseling activities on the patients.
We even have an excellent track record in increasing the compliance rate from 40% to 80%. In fact, working with both payers and providers since ages have earned excellent industries reference and more than 100 clientele; including Medtronic.
So leverage Sunknowledge benefit and experience streamline operation and way to revenue generation for your DME medical billing
