Know the current happenings at Medicalbillersandcoders and it's participation in making billing and coding a simpler process.
The complexity associated with DME coding and billing is well understood within the industry. We, at MBC, have always had our finger on the pulse, and our focus is now on DME coding and billing services. MBC's ever expanding knowledge over the healthcare domain has helped direct our marketing strategies improving the Revenue Cycle Management process of medical practices that partner with us. A study of the socio-eco market trends rightly pointed the team towards understanding the needs of certain sections of the population and the problems associated with it in the healthcare section. The aging population need for chronic disease management tools and devices and remote monitoring devices is seen to increase in the coming years. This inevitably points to the increase in the need of DME services, and MBC has been bang on target. Recently, a feather in the cap of team MBC, 100 new DMEs have signed up with MBC in Q1 and Q2 of 2017, making them our preferred partner.
Claim denials prove costly for most healthcare practitioners. The process of resubmission is even more costlier and requires stringent documentation and tedious follow-ups. According to ,Steve Martin, Marketing Director (Web), "When MBC was planning its marketing strategy for the 2017, our knowledge experts pointed out that CMS had seen dramatic drops in utilization rates in bid areas for critical medical equipment such as oxygen therapy, power wheelchairs, and hospital beds. Further, our studies indicated that thousands of Medicare beneficiaries reported problems not only to accessing equipment prescribed by their physicians, but delays in receiving it too! Although, we knew that physicians have a right to recommend DMEs, but without showing medical necessity, they were losing out on reimbursements. We wondered why this was being experienced." Our team then went straight to the heart of the matter and started engaging with physicians to understand the pain points. Steve Martin elaborated further, "We realized that the DME appeals process was resource intensive in terms of both time and human resource, i.e. clinical staff." Evidence indicated that the number of DME businesses continued to decline, and many others struggled financially, given the delays in reimbursement.
MBC sales and marketing teams started working on a war footing to turn the DME business around working with healthcare practitioners and those involved with DME services. Head of Sales, Mr.Brian Reese stated, "Our strategy was simple- use our knowledge to understand workflows and processes, provide expertise in Coding and billing and straighten out compliance issues, work with in-house teams if present, or provide our own teams where needed. The most crucial was helping them understand that documentation was the core focus to aligning the rest of the systems." Soon MBC was being approached by those wanting to not only revamp their systems, but even those healthcare providers who wanted to take on DME as an ancillary service augmenting their finance! MBC worked with new partners covering a vast range of services from eligibility and verification, error free charge billing to claims and resubmissions and follow-ups. MBC covers the whole Revenue Cycle Management process and also works with streamlining workflows and DME processes crucial for a profitable RCM and for enhanced audit systems. MBC has been known to work well with either the organization's software's already inherent in the medical practices to align knowledge and technology for a greater outcome, or even work as an outsourced partner evolving and aligning as the practice grows.
Focused sales campaigns have helped MBC build awareness of the niche segment of DME services- captured many healthcare providers decision to take on DME as ancillary services. Thus MBC has not just targeted the attention to improving the DME services, but as pointed out by our Business Strategist, Steve Martin, "MBC has provided a seed of growth for healthcare providers to look beyond their present practice by anticipating the demand for durable medical equipment in the geriatric and aging population." It is a well known fact that the section of US population with ages 65 and older is projected to more than double from 46 million today to over 98 million by 2060, and the 65-and-older age group's share of the total population will rise to nearly 24 percent from 15 percent. MBC has worked out the demands and economics of how this will play out and has honed into this crucial need of the future.
We, at MBC, have engaged our unique USP - wide knowledge of expertise on the Coding & billing specialties and the "operational & clinical necessity" need for DME/HMEs to outsource particularly. MBC's Marketing Director (Web), further elaborated that, "Given the complex labyrinth of insurance claims processing and payment collection, and each payer having their own rules and requirements for claims submissions has often led to denied and/or rejected claims & our marketing team has worked with many specialty practices helping them realize that as much as six figures in net income could be theirs which is currently going into DME vendors." The turn-around by such practices into engaging with MBC have been quick and have not regretted partnering with MBC ever since.
MBC is known for its years of expertise in the field of Medical Billing & Coding supporting healthcare practitioners across over 40 specialties, including DME services. MBC provides solutions that are designed to support healthcare practitioners through the whole Revenue Cycle Management process. Our expertise that has assisted the 40+ specialties across several US states has helped our partners optimize their revenues, realize significant cost savings and expand their organizations. Our tailored-to-fit solutions ensure that MBC delivers the best for high ROIs. We, at MBC, with simple tweaks to workflows and processes, and aligning healthcare services with the changing regulations, ensure every partner of ours stays compliant through all weathers. At MBC, our knowledge experts pride themselves as the bellwethers in the field of Medical Billing & Coding and experts in the RCM area.
Prerna Gupta, Media Relations
108 West, 13th street,
Wilmington, DE 19801