Smart outsourcing solutions can improve your reimbursement - here's how.
HME and pharmacy providers often assume that it's cheaper, faster, and more reliable to keep their reimbursement in-house. However, this isn't always the case. Outsourcing all or part of your billing functions to an experienced reimbursement firm frees up your time, reduces pressure on your team, and puts your revenue cycle on the right path. Now, let's explore more reasons to outsource your HME and pharmacy reimbursement.
How C-Level Executives Benefit from Outsourcing Reimbursement
Are you a C-level executive at an HME company or specialty pharmacy? If so, you know it’s easy for paperwork to pile up. Whether you’re dealing with understaffed offices or inefficient billing processes, you need a reliable way to manage your reimbursement. Outsourcing your revenue cycle takes the load off of your workers and gives you the space to make important business decisions.
Save on Expensive In-House Reimbursement
It's tough for HME and pharmacy providers to remain fully staffed. From low morale to high turnover, your in-house billing team can quickly become a revolving door. Even if you can maintain your billing team, you may have to make budgetary cuts to stay afloat. This leads to a future of backlogs and delayed revenue.
By outsourcing your billing processes, you can greatly reduce your billing expenses. The savings far outweigh the cost of partnering with a reimbursement firm. Not only will you save money on expenses like salaries, insurance, and equipment, but you’ll also see fewer rejected claims, adding a substantial boost to your revenue. In total, businesses that outsource HME billing processing with Prochant see ROIs of 30% or more.
Get Expert Help Identifying & Resolving Pain Points
Pain points slow down your processes and ultimately cost you money. While you may already have an idea of some of your most pressing pain points, you may not have considered every part of your billing cycle. When you partner with billing solution experts, you get extra help finding the most effective ways to reduce excess paperwork, claim reimbursement periods, and rejected claims.
However, it’s not enough on its own to simply identify pain points. By analyzing your business’ specific needs and problem areas, you can begin to implement the necessary changes. With the right expertise at your disposal, your billing processes will become more organized and productive.
Get a Team that Works Seamlessly with Your Own
One major concern about outsourcing any process is the potential for poor coordination between your team and the new billing solutions firm. Fortunately, with Prochant, you get experts who work to meet the specific needs and procedures of your existing team. When Prochant works to improve your processes, you don’t have to worry about miscommunications or billing structures that won’t work in tandem with your current systems.
Thanks to our commitment to maintaining 100% satisfaction with our billing solutions, Prochant can work as a seamless extension of your team. We handle all of your billing cycle processes to take the pressure off of your team, while still coordinating with you and your staff on a daily basis. With Prochant, you get the best of HME process outsourcing — without the need to completely reconfigure your business.
If you’d like to learn more about how to outsource your reimbursement and improve your billing processes, contact the experts at Prochant today!