The term ‘Durable Medical Equipment’ covers an array of devices such as crutches, wheelchairs, oxygen supplies etc. Lack of licensing can put the DME company in a tight spot with civil and criminal consequences. Again, it is imperative that employees must be licensed as well if they are to set up/install any device. Therefore, it is becoming absolutely essential to obtain a business license. This license is known as the Durable Medical Equipment Regional Carrier (DMERC) license and allows one to distribute covered medical equipments for Medicare patients (Medicare requires the DME to hold a business license).
Here are the reasons that are indispensable for becoming a licensed DME:
1. Greater revenues: Many physicians dispense the required DME from their own offices; while some prescribe the DME to be taken from an outside source (DME provider), thereby losing an important source of revenue. It is much easier for a patient to get the tests administered in the same hospital rather than going to another facility. To capitalize on the practice’s revenue, it is essential to become a licensed DME. With this license, as a practitioner, you can have complete control over the quality of the products administered to your patients and enables you to collect compensation from DME Medicare coverage extended to patients. Through aggressive industry prices, one can also gain profits. You can purchase equipments at heavy discounts from wholesalers directly at lower than industry prices and increase the profit margin. In the case of diabetics, providing the diabetic supplies to your already existing diabetic patients augments your revenues as there are no added patients or patient support expenses. By obtaining a license, you can also become a DME wholesaler/ retailer.
2. Time and satisfaction: To have complete control of the therapeutic equipments and be able to skip the patients’ waiting time creates immense satisfaction for the patient and practitioner. It is easier for patients to complete all the diagnosis and treatment in one appointment, as it saves them the time of traveling to multiple facilities, especially those with injuries. This also reduces stress and avoids unnecessary delays at unknown waiting rooms/offices, creating fulfillment of treatment for patients. The DME license not only makes things convenient but also forms higher standards of services/healthcare products to patients who turn out to be healthier and happier.
3. Other Factors: Businesses are typically restricted due to many factors such as geography, specialty, insurance policies, and socioeconomics. Therefore, a DME license aids in expanding business opportunities, removing obstructions and balancing the medical practice and its limits. This also aids in running the business effortlessly and proficiently.
Having a DME license creates overall satisfaction from patients, increases revenues and leads to enhanced patient outcomes. A licensed Durable Medical Equipment provider can ensure a smooth DME billing for enhanced profitability.