DME market in the US is growing to reach $60.2 billion by 2020

DME providers need to understand the industry really well, particularly around billing and reimbursements. For instance, if they have submitted the claim and it gets denied, they will lose out on that revenue because the product has already been given to the customer. Even though denials can be appealed, the process will extend the time to get paid and also requires time and money to accomplish. The DME market in the US is growing and it is expected to reach $60.2 billion by 2020. Even though the competitive bidding under Medicare and other regulations are making DME sales challenging, the demand for DME continues to grow every year.

If you also wish to outsource billing task to a third party, then here are seven tips on how to partner with the right company:

1.      Make sure the company has a team of certified billers and coders who have excellent knowledge of ICD-10 and who stay updated with the latest industry changes.

2.      Make sure that the shortlisted billing company has a strong reputation in the market. Market is flooded with companies run by deceptive people, so you need to invest time into evaluating billing partner by looking for reviews.

3.      Experience matters, so choose a billing company that has been into this industry for long. Year into business is an indication that they have been keeping their clients satisfied.

4.      Not to forget, the company needs to have extensive experience in DME billing. This is important because billing for DME is quite different from other specialties.

5.      Check with them if they offer flexible payment options. Also, the vendor should apprise you with timely reminders.

6.       It is important to ensure that the billing company you are hiring is responsive. Look for speed and availability and make sure that they respond to concerns quickly.   

7.      Last but not the least; the billing company needs to be HIPAA compliant. This will give you peace of mind and you will be assured that the company won’t put your business or its reputation in jeopardy.

Besides these factors, you need to make sure that the billing company has a strong reputation of meeting deadlines. The team should be using the latest technology and also be offering effective denial management services. 

To Know More About@ http://bit.ly/2qOsPTM

About 247 Medical Billing Services:

We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow doctors to attract additional revenue and reduce administrative burden or losses.

Contact: 
247 Medical Billing Services
Tel: +1 888-502-0537
Email: info@247medicalbillingservices.com