HME billing is an important aspect of the healthcare industry. In general, collections are both time-consuming and difficult. Every medical specialist understands how tough it is to be compensated for their services. Reliable HME billing processes improve cash flow and contribute to a medical practice’s financial success. If you have a high number of denials, your revenue will be easily stay stuck in accounts receivable, affecting your cash flow significantly.
The global HME billing outsourcing market is expected to reach $19.7 billion by 2026, growing at a compound yearly growth rate of 11.8%. Furthermore, according to statistics, the front end services dominated the worldwide medical billing outsourcing market last year, while the end services are predicted to see the highest compound annual growth rate of 12.4% or higher through 2026.
According to a Grand View Research report, one of the factors why several healthcare organizations are opting for outsourced billing support is the growing number of payer, continually shifting medical codes, complex DME/HME billing regulations, and large practices combining.
Constant and diligent control of RCM
Revenue cycle management involves all aspects of the order-to-cash process. Constant and diligent control of key processes is required for revenue cycle management performance. Continuous process improvement can help you maximize profitability with that oversight. Here are some areas to concentrate on in order to boost receivable collections. However, experience and the ability to grasp how front and back end work in HME billing produces accurate reimbursements are the keys to success. It all comes down to a disciplined team of devoted resources who can close all gaps and expedite your payments as quickly as feasible.
Finding a Partner is the key
Finding a trustworthy partner to assist you in your endeavor can be difficult. It is also necessary to improve your revenue cycle, focus on patient care, and implement an ecosystem that aids in the process of retrieving the desired collections. You must improve your current revenue cycle management activities in order to achieve excellence in your HME billing mandates.
What makes Sunknowledge so special in HME Billing?
Our expertise and dedication will assist you in increasing your income collection. Furthermore, with the pressure of HME billing removed, your staff will be able to focus on patient care. When you connect with Sunknowledge, it’s a win-win situation. You can save up to 80% on DME/HME billing operations and gain a higher appreciation for providing superior patient care.
Perks of working with Sunknowledge:
- Detailed documentation
Obtaining the appropriate papers for the procedure, our professionals immediately ensure the doctor’s office follow-up, which many other RCM lacks.
- Seasoned billers and coders
With a team of highly specialized and certified coders and skilled billers who are equally proficient and up to date with recent market demands as well as methods to each payer’s requirements, and even with different billing software Sunknowledge not only reduce chances of errors but also prevent claims from being denied or rejected.
- Total operational transparency
Maintaining 100% HIPAA compliance, our professionals give tailored reports in accordance with the client’s procedure, providing them with a comprehensive view of the process.
- The market’s highest productivity metrics
Our professionals today are not only known for cutting 80% of the operating cost for all of our clients but also for the top productivity metrics in the market. They eliminate any superfluous expenditure and save you time and labor on reworks, errors, and so on.
We can assist you with any remote help you may require. We’d like to speak with you over the phone to discuss our personalized services. This will assist us both in understanding how easily our systems can be connected to gain a competitive advantage.
So, if you want to optimize your HME billing process, as well as have a faster reimbursement with fewer billing and coding errors, Sunknowledge services Inc is the place to go.