Outsourcing your DME billing doesn’t have to be difficult.
Are you considering outsourcing your DME billing functions? You’re in good company! HME and DME providers increasingly see this service as a way to improve their business and bottom line. In fact, roughly 25% of providers have started outsourcing or adding specific expertise to their billing teams.
You might ask, “Where do I start?” With so many services and so many partners to choose from, it’s easy for providers to feel paralyzed.
We believe in making this process smooth for you. That’s why we’re giving you four tips to smart outsourcing in DME billing below.
1. Define your challenges.
What are the major pain points for your DME billing team?
Maybe you struggle with high DSO or A/R. Maybe you need extra help on special projects. The sooner you can pinpoint these issues, the better. Outsourcing partners usually have lengthy menus of DME billing services. By understanding your needs, you and your partner can work on them – together.
2. Do your research.
You know your billing struggles. Now, it’s time to weigh your options.
Not all DME billing services are created equal. For example, some outsourcing companies take their services directly to India. Others provide US-based teams dedicated to their clients’ success. It also pays to carefully consider pricing: Lower pricing models do not necessarily offer high-quality services.
3. Discover your data.
Your data can tell a compelling story about your DME billing.
Your outsourcing partner may provide you with a data analysis. This “health check” opens a window into where you are and where your business can improve. Specifically, a good outsourcing partner will compare your data against key industry benchmarks and provide insight into tracking the right metrics.
4. Do the work.
Signing your outsourcing agreement is just the beginning!
Now, it’s time to work with your outsourcing partner on a daily, weekly, and monthly basis. As we often say, “Outsourcing is not a magic bullet.” Whether you outsource outright or work with an account team, this sentiment rings true. Making yourself available makes the outsourcing partnership possible!
When you outsource your DME billing with Prochant, you build a partnership that works on the challenges in your revenue cycle, together.
Our client, Steve Mamangakis of Physicians Choice, says, “Working with Prochant, we have gone from 43% accounts receivable (AR) over 90 days to just south of 13%. In this audit rich environment, this result is phenomenal.”
If you are ready to partner with a trusted DME billing company, contact us today!
Prochant is the nation’s leading HME billing and process outsourcing company. Our highly-skilled team helps providers become more profitable by outsourcing or enhancing front- and back-office processes. We rapidly implement changes and proactively monitor metrics to ensure client success. Headquartered in Charlotte, North Carolina, we work with top medical equipment providers and health systems.