How to Boost Collection Efficiency with DME AR Management
- Is resolving billing issues taking up most of your time?
- Is your staff having difficulty catching up with piles of paperwork for claims?
- Or does your business have a long list of denials?
Whatever the bottlenecks of your medical business, a streamlined DME (Durable Medical Equipment) billing workflow can help ensure an effective AR collection and management. In fact, with an airtight DME AR process, you can minimize the errors in your DME billing, thereby reducing denials and making way for healthy cash flows.
All of this sounds fascinating, sure. However, do you know how to actually enhance the DME AR management process to boost your collections? Read on to find out.
- Set “Clean” Claim Goals
Setting transparent claim goals from the beginning can drastically help you enhance DME AR management. So make sure your coders or the billing staff understand your expectations from stem to stern for clean claims.
If you really want an edge, set a goal of getting clean claims out within 48 hours of receiving the information. And don’t forget the electronic rejection – ensure you have clear goals for following them.
- Make Technology Your New Best Friend
In today’s productivity-centered world, technology is the answer to most business problems; DME AR management is no exception. Automate your electronic health records and practice management systems to improve monitoring and analytics.
The use of tech-based solutions can be highly effective in ensuring cost-effectiveness and speeding up billing processes to enhance your DME revenue cycle management procedures. This can go a long way in making the DME AR management process much more effective and efficient.
- Put Enterprise Data Warehouse to Work
If your medical facility has an EDW (Enterprise Data Warehouse), it’s time to put it to work. By helping you analyze the current data status on clinical, financial, and patient satisfaction measures, the EDW can optimize the entire healthcare revenue cycle.
And not just that, robust EDW systems also let you drill down into the data to find the root cause of problems and challenges. Additionally, you can invest in benchmarking data for your EDW, which can help compare performance to similar healthcare facilities, allowing you to identify places where the AR management system needs improvement.
- Take a Dive into Denial Management
One of the significant issues most businesses face in DME AR management is handling claim denials. This means an increased focus on this facet can yield significant results. If you observe carefully, you’ll notice repetitions and patterns in your claim denials.
For instance, if incomplete patient information is a reason for denial in several cases, it can be tracked and flagged with proper codes to create reports for the leadership to address. So for efficient DME AR management, you must ensure proper processes are in place for keeping track of the denials.
Striving for Hassle-free AR Management? Outsource to MBSNI
With extensive industry experience and a commendable track record, MBSNI (Medical Billing Solutions Nationwide) has created a niche in DME AR management. From diabetic supplies, and enteral nutrition to orthotics, MBSNI’s eminent professionals can take care of the billing, collection, and management of your claims successfully. Get in touch with us to know more.
