Why DME Providers are in favor of Outsourcing their Billing Services?
The DME billing procedure is
entirely different than that of the other medical billing and coding processes.
DME has been classified under the HCPCS level II codes. These codes are of 5
digits and come in a combination of alphabets and numeric. Adhering to these
codes requires domain-specific expertise. There are multiple steps involved in
coding the DME billing. The process consists in getting the prescription from
the medical practitioner, assigning the codes, and processing the billing for
claims from the insurance payer. Finally, getting it distributed to the patient.
What are
the Rules & Regulations that can Impact the DME Medical Billing Process in 2021?
Do you know that COVID-19 has not
only brought medical emergencies worldwide but also impacted the DME Suppliers
by waiving off certain requirements?
These rules and regulations have
changed the entire outlook of the DME Medical Billing Process as impacting the
DME suppliers would mean directly affecting the DME Providers. This has led to
the Medicare
and the Medicaid Services updating their rules in
April 2020 that are pertinent to the Medicaid and Medicare policies.
While these policy changes equipped
the US healthcare system with the much-needed flexibility to respond quickly to
the pandemic, they also impacted the DME Suppliers. The suppliers execute the claims
submission process and get the authorizations that are integral parts of a DME
billing process. The regulations that affect the suppliers, therefore, have a
consequent impact on the overall billing process. This is why it is a necessity
to outsource the DME billing process to external professionals.
Let's look at a few of the waivers
that are about to impact the DME billing process in 2021.
·
Requirements
like face-to-face interaction along with the recommendation from the doctors
about the requirement of the DME equipment for the DME replacement item are
waived off. DME suppliers must describe the replacement claim and document the
loss or damage of the equipment. This requires time for suppliers to complete
the procedures that can impact the regular DME billing process.
·
The
new requirement does not need the patient signatures and proof of delivery
notes to abide by the no contact policy for the pandemic outbreak. Because of
the pandemic, the suppliers must note the DME equipment delivery date and
mention the inability to get the patient's signature. These are additional
steps along with the regular DME billing process.
·
Under
the Coronavirus Aid, Relief, and Economic Security (CARES) Act, CMS will ensure
higher payments for specific DME equipment in classified areas like non-rural
and non-competitive bidding within the US pandemic period.
What are
the right moves to outsource the DME billing in 2021?
The brighter picture amidst the Covid-19
pandemic has cleared the dilemma that has plagued the question about
outsourcing the DME
medical billing
by the healthcare practices. In-depth knowledge about Medicaid, Medicare,
out-of-pay, and other industry mandates is not enough for DME billing. The
dynamics and the changing regulations in the healthcare sector will require
special expertise in the DME billing process in 2021.
Let's have a look at the different
factors that will help you in making the correct decisions about outsourcing
the DME billing in 2021:
Robust
Technology Infrastructure
An immediate requirement is to have
faith in the latest technological innovations that can help you speed up the
DME billing process. This can compensate for the time taken additionally for
aligning the billing process to the present regulatory framework. However, as a
healthcare practice, investing and train your employees on the latest
technologies can be an added burden, especially during this Covid-19 pandemic.
Thus, outsourcing
the DME billing process to third-party vendors with the appropriate
technology infrastructure and expertise to execute the process seamlessly is
even more relevant.
Robust
Reporting
As an emergency Covid-29 outbreak,
most hospitals in the US suspended their non-emergency medical care. This
resulted in more than USD200 billion losses within four months, as per the estimation
by AHA1. Stepping into 2021, it is crucial to partner with a DME billing
service vendor to reduce the overall operational expenses. An experienced
vendor will provide accurate reporting that will showcase the areas of improvement
in the DME billing process. These will minimize billing errors and increase the
prospects of saving costs.
It's Time
to Increase Your Revenue..!
Are you already super busy with
managing your DME supplies? Have you started feeling drained from doing the
medical tasks on your own? No one can ignore the fact that medical billing
errors have a direct impact on reimbursements. Simultaneously, there is a
complexity in generating and collecting the revenue. The best and one-stop
solution to all your medical billing-related problems is the 24/7
Medical Billing Services. Call our experts immediately to
enhance your revenues more than ever.
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