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How to manage the HME billing inefficiencies

Health

With the challenges associated with constantly changing regulations, payment systems and increasingly labyrinthine codes almost every day in HME billing, there are providers feeling under pressure most of the time. With the increasing operational cost, there are stressing to maintain the bare minimum. Today HME providers are in fact more focused on improving the core operational efficiency while reducing the operational cost for better HME billing transactions.  But the question that arises is how you as a healthcare provider can bring down the operational cost of your facility and ensure a seamless billing transaction at the same time. 

Most of the HME providers find the solution by following a few simple steps – 

  • Have complete process knowledge and industry mandates – complete knowledge and understanding of the present industry mandates and billing regulations can alter the way HME billing operations work. Ensuring lesser error rates and improving cost transparency with complete HME billing process knowledge, you can avoid medical errors, lost charges, and frequent denials in your HME billing. It overall further helps you with minimizing transaction costs, enhancing security, and improving productivity metrics.  
  • Master your billing software – being proficient in managing various billing software like DME works, OPIE, Brightree and more can help you handle large volumes of claims efficiently. Strengthen your operational efficiency by reducing office expenses, it further benefits with faster claims. 
  • Managing overheads efficiently – the overhead costs constitute a significant share of the total operating costs of the healthcare practice as it includes the expenses of documentation, maintenance, transport, sanitation, and other non-clinical expenses etc. Even though some of the overhead is extremely vital for the proper functioning of the practices that help in boosting overall operational efficiency, few of them need to be eliminated as it often pulls the overhead costs. However, the best way to reduce the overhead is outsourcing HME billing and other functions in revenue cycle management; helping you reach to a cost efficiency goal.   

According to a recent survey, more than 54% of healthcare finance executives stated that outsourcing RCM had helped them increase efficiency.  

Sunknowledge promises better HME billing transactions: 

Managing all HME billing complications and improving your ROI in no time, Sunknowldge today is one of the leading RCM destinations for many. Being a cost saving RCM destination by optimizing manual processes, Sunknowledge guarantees an improvement in the rate of collections as well. 

Streamlining workflows, Sunknowledge experts today have helped many HME providers across the US in bringing down their costs and boosting revenues with our holistic solutions.  

So to know how we can help you spike up your HME billing efficiency in 2023, get in touch with us right now.