HME medical billing is constantly changing due to the development of new technology and tools for advanced medicine, just as medical practices are constantly changing. Many healthcare practices are having difficulty in not only keeping up with the current billing guidelines, but also making sure to offer a streamlined HME medical billing process.
Today, most of the billers and coders lack the software knowledge required during implementation. Resulting in more
- Denied claims
And nothing irritates a healthcare provider’s bottom line more than a claim being denied or rejected in the HME medical billing process. This is why, in today’s world, healthcare providers are finding outsourcing to be a far more practical HME medical billing solution.
Working in the HME medical billing services domain is unlike any other medical billing and coding process, as it necessitates in-depth specialized knowledge of all HCPCS Level II codes. Furthermore, inaccuracies in HME billing services can result in
- Hours of rework
- Delayed accounts receivable
- Complex reimbursement
All of which pose challenges. As a result, healthcare providers find that outsourcing their HME medical billing process is a more convenient option.
Outsourcing your HME medical billing not only gives you more time to focus on your core competencies and higher-quality services, but also allows you to address other issues such as marketing, client acquisitions, and infrastructure.
Here are some of the reasons why most healthcare providers today are outsourcing to ensure a higher return on investment:
- Cost-effective solution
The monetary aspect has always been the deciding factor in any business. Healthcare originationis frequently perplexed as to whether to go in-house or outsource. Streamlining an operational system can save a significant amount of money. In reality, outsourcing HME medical billing saves a significant amount of money.
Due to employee wages, benefits, and training costs, hiring an in-house employee for any medical billing process is more costly than outsourcing. In fact, in most cases, in-house healthcare employees must undergo training, software knowledge, and other similar procedures. This costs a significant amount of money and time. Outsourcing, on the other hand, has the advantage of having trained HME medical billing expertswithout additional costs like training, benefits e.t.c..
- Working with Skilled Personnel
When you outsource your HME medical billing, you gain access to a team of highly trained and credentialed billing professionals. They are solely responsible for following up on your claims. These field experts will focus solely on improving your practice’s financial performance, resulting in increased revenue and profitability.
- Rate of collection:
In-house staff is frequently seen as being too slow in collecting fees from responsible sources. Whereas an outsourcing company specializes in such services and has a dedicated collection team.
- Efficiency denial management:
Denial claims can quickly increase your collection costs and account receivable cycle, necessitating the use of a denial management specialist. Outsourcing allows you to hire experts who can quickly analyze your denial claims and take action to reduce your aging AR.
- Dedicated supervisor
To reduce the cost of the in-house billing system, it is common to see a single person handling complete billing processes, resulting in delays and errors. This is why having a dedicated management team to support the client’s requirements is advantageous.
Managers taking full ownership and responsibility for delivery allow clients to focus more on patient care while also ensuring easy communication.
What makes Sun Knowledge the go-to platform for HME Medical Billing services?
Sunknowledge Services Inc, an outsourcing RCM company that not only ensures seamless billing transactions but also seamless cash flow, is here to help you with your HME billing operations. At 2% of collections or $7 per hour, we have a niche presence. We offer highest productivity metrics even in pandemic scenario, and are serving as a dependable operational extension for some of the industry’s biggest names.
Our AR monitoring experts assist you in collecting 80% of claims that have been pending for 90 days or more. We even guarantee the accuracy of 99.99%, as a result, all of our clients benefit from efficient cash flow.
Salient features of Sunknowledge Services Inc:
- Yearly maintenance of compliance certificates
- A top-of-the-line infrastructure is in place to protect PHI from any malicious threats
- USD 3 million liability insurance with up to USD 1 million per incident coverage
- Dedicated resources with US phone numbers available on all working days in the US
- Dedicated Account Managers provided to all of our clients at no additional cost
- Supervisors and Internal Auditors are assigned for free of cost consultation
- IT Infrastructure, Account setup and transition are offered as free services
- There is no legally binding contract
Moreover, Sunknowledge Services Inc assists remotely during pandemics, unlike any other RCM vendor in the healthcare industry. While most other RCM vendors are struggling to meet their productivity goals, we continue to set the industry standard for productivity. We provide unrivaled and continuous 24×7 supports to every client in the DME/HME medical billing because of our dedicated resources.