All the healthcare providers are searching for a streamlined DME billing operation team that may handle their DME billing process without much hassle.
According to MarketWatch, the worldwide marketplace for Durable Medical Equipment (DME) is predicted to achieve up to USD 246.6 billion by the year 2026. This rise is predicted because of the advantages that DME products like a wheelchair, nebulizer, canes, crutches, walkers, etc. wear peoples. except for making patient’s life easy, the DME products also help these patients live a life without much pain making them independent.
Besides the above benefits, technological advancement within the DME medical equipment is additionally other reason for the increase of the DME market and in fact, the rising geriatric population. As old people are more prone to chronic diseases, requiring extended care that involves more of the DME products for leaving a simple life.
As per the report, the worldwide DME market is fragmented supported the tip user, region, and device type. With reference to device type, the market is further divided into therapeutic and monitoring devices, medical furniture and loo safety devices, and private mobility devices. Sub-segments of the therapeutic and monitoring devices market include nebulizers, infusion pumps, oxygen equipment, blood sugar monitors, and other devices.
DME market from therapeutic and monitoring devices is predicted to grow at a high rate during the estimated period. the non-public mobility devices market segment is split into scooters, walkers and rollators, door openers, wheelchairs, and other devices. This segment is anticipated to carry a serious share of the worldwide market in 2017. The Medical furniture & bathroom safety devices market is segmented into commodes & toilets, and bedding & mattresses devices.
However, because the demand for the DME products is rising, all the healthcare providers are searching for a seamless operational extension that may handle their DME billing process without much hassle.
In fact, here are some tips to choose the best operational extension for your DME billing services:
The Cost-effective aspect
Cost is a more important factor while choosing a DME billing operations team. MBC can provide a hard and fast profitable productivity output.
As the DME billing process exchange of significant information happening within the process so as to avoid fraud and laundering of unnecessary information and money, it requires an operational extension that encompasses a complete HIPAA compliance. That ensures stringent regulation keeping the data secure.
Highest Collection and productivity metrics
It is best to choose an operational extension that provides the best collection rate and productivity because it leads to positive reimbursement.
As in-house billing experts or dedicated managers cost a large lump of cash MBC as an outsourcing organization that provides dedicated account managers is usually profitable.
To keep track of productivity, MBC as an outsourcing organization maintains robust reporting. This reporting also helps in providing a whole understanding of the strength and area which needs more focused so as to boost the billing process, thus playing a very important part within the checklist.
However, taking care of your complete DME billing process which includes:
- New patient Entry
- Eligibility and Benefits Verification
- Prior Authorization
- Medical Coding
- Claims Submission
- Rejection Management
- Payment Posting
- Accounts Receivables Follow-up
- Denial Management
- Customer Service
Medical Billers and Coders (MBC) is the leading medical billing service provider that not only help with 70% operational cost reduction but also with the dedicated account manager and robust reporting in line with client protocol. Providing the very best collection rate and productivity metrics.