Recently the Medicare Payment Advisory Committee (MedPAC) made payment policy recommendations for non-competitively bid Durable Medical Equipment. And if internal reports are to be believed, MedPAC plans to recommend that CMS shift more products away from the excessive fee schedule to bid rates. Also, it plans to call for immediate reduced payment rates for certain […]
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Accounts Receivable (AR) is a key parameter in the financial division of every healthcare facility. It is defined as the money owned by the healthcare facility for the services rendered to the patients. Being a vital aspect in the revenue cycle management, the cash flow of the healthcare facility is directly proportional to the managing […]
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Getting to know the basics of denial management is vital for successfully running a medical practice and Durable medical equipment (DME) facility. Facilities that are showing positive bottom line numbers at the end of each month will generally have denial rates below 2%-3%. Also, nowadays payers are embarking system software’s so they can identify different […]
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Managing a Durable Medical Equipment (DME) facility is without a doubt a tough task. Right from providing patients the correct medical gear to overlooking the revenue management cycle, insurance reimbursements, along with medical billing and coding requires the help of experienced experts, be it in-house or outsourced. As a DME medical billing service provider, we […]
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Medical billing and coding from the outside may look like an easy on the run job, but it has much more intricacies that what you can imagine. The Durable Medical Equipment charges, which have different ‘codifications’, altogether are is making life worse for DME owners to sustain a streamlined revenue cycle, as most of the […]
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There are certain considerations when you are choosing health insurance is a plan’s out-of-pocket costs. These are the healthcare expenses that you pay yourself, i.e. out of your own pocket. Out-of-pocket expenses are paid in addition to your monthly premium for health insurance. In order to minimize your healthcare costs, you need to look at […]
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With age, there comes a dependency. We may require assistive equipment to help us do things that were earlier easy, such as climbing stairs or standing up from a chair. The majority of older adults have never previously encountered this type of adaptive equipment, and navigating this new world of insurance and vendors can be […]
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A professional DME facilities and billing workflow ensures to have increase revenue. With errors and mistakes in your DME billing, the process for claims management is hindered and thereby the Accounts Receivable (AR) collections have a deep impact overall reducing the healthy cash inflows. So what are the best practices to optimize your AR […]
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As per industry research, thousands of dollars are lost in mishandling and unpaid claims in numerous fields of healthcare, including Durable Medical Equipment (DME). Added to this is the multifaceted billing and coding procedures, and the claim requirements of Medicare, Medicaid and other private insurance companies. To ensure accurate reimbursements and timely revenues, it […]
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Going outsource from your local demographics to attain higher return on investment is the latest trend engulfing healthcare units, clinics, hospitals and outpatient facilities in the U.S. Partnering medical billing agencies help Physicians to effectively survive and make an impact in tough economic clout, as they are specialists in resolving delayed payment issues, lagging […]
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