In today’s everchanging and evolving healthcare marketplace, medical billing outsourcing is no longer a novel concept. Instead, it is now considered a mainstream approach and a trump card to spruce up bottom lines.
Outsourcing helps healthcare organizations generate more savings due to streamlined processes, skilled labor with specialized knowledge and experience, and state-of-the-art technologies. Hence, medical professionals, including doctors and practice managers, are embracing medical billing outsourcing unlike before. This blog will discuss the average cost of outsourcing DME medical billing services and how outsourcing works in your best interest.
With ongoing market demands and a scenario where there are ever-increasing workloads, companies like yours need instant solutions to improve business operations. We believe that outsourcing DME medical billing functions is vital to optimize the best solutions and cope with professional demands.
Outsourcing can help improve turnaround time, increase revenue, and improve key performance indicators and revenue cycle management. Besides, you can even expand your team (on-demand and scalable) while improving AR collections and claims management. Outsourcing even enables you to enhance your patient documentation and verification services.
Outsourcing DME billing services reduces overall workload and allows you and your in-house team to focus on lucrative tasks. It is relatively cheaper when compared to an in-house team with ample benefits. In addition, outsourcing firms focus on leveraging your business operations and eliminating documentation, coding, and billing errors. They provide extensive services to file claims accurately and on time.
Dedicated resources, 24/7 assistance, and the latest technology allow you to grow faster in the competitive market. Most outsourcing solutions providers adhere to the Health Insurance Portability and Accountability Act (HIPAA) and are compliant with the Office of the Inspector General (OIG) regulations.
A strategic solution allows you to drive your DME on the newest automation tools to improve productivity. You discover that resources work effectively with continuous monitoring, analytics, and flexible reports. These services allow business executives to make better decisions.
This may sound like an expensive solution for your business. However, these cost-effective services depend on your requirements, team size and services, and the outsourcing solution required. Cost varies with the number of benefits, core expertise, team size, and workload. The pricing of the services and the outsourcing solution are customized based on your requirements, current RCM, KPI, and the DME billing services process.
There are no hidden charges when you work with a strategic partner. Nevertheless, reputed outsourcing firms deliver quality services with different business models and pricing. These pricing models include hourly base, pay-per-use, project, and operational-based.
Outsourcing allows you to gain access to expertise on demand and expand your team instantly. You can scale up or downsize the team based on workload. Outsourcing DME billing roles helps drive business growth and stops revenue leakages.
-> Technology Expertise: Implement and integrate the latest technology to automate back-office operations.
-> Data Management: We collect patient information accurately and review document information.
-> Patient Creation: Our experts create patient clinical documentation with a thorough medical history, insurance eligibility, and coverages. This will help you to improve business standards and serve more patients. We also review documents to help you serve the patient better.
-> Appoint360: Automated appointment scheduling solutions allow you to manage your patient effectively and streamline business operations.
-> Sale Management: We create sales orders, invoices, receipts, patient follow-ups, and sales order confirmations to complete orders efficiently. Also, we ensure all your documents are error-free, clean, and reviewed appropriately.
-> Logging CMNs: Logging of CMNs before sales order confirmation
-> Claims Submission: We ensure that claims are filed and reported to the insurance company on time and accurately to increase revenue.
-> Denial Management: We work effectively on denied claims and resubmit them before the due date. We double-check the information on resubmission to decrease denial rates.
-> Payment Posting: The payer will send either an EOB or an ERA towards the payment of a claim.
-> AR Follow-up: We follow up and collect the pending claims payment from third-party insurance providers.
-> Transparent Reporting: Our team will send you detailed weekly/monthly reports that evaluate the performance of claims to keep you on the same page.
Do you need help understanding outsourcing solutions and how they can affect your business operations? Schedule a free call with our expert, clear all your doubts, and make the right decisions.
-> Contact us to schedule a complimentary call to understand our business models and custom pricing structure.
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