MBC (MedicalBillersandCoders.com) has been effective in garnering profits for DME across Ohio, Texas, Florida & New York. Revenue tribulations have been replete in the business, owing to specific reservations of the various payers. In such a demanding situation, MBC’s DME clients have managed to secure a strong foothold and have seen their way to profitability.
Despite widespread growth, DME are constantly subjected to a host of challenges that affect profit margins. According to many DME owners, reimbursement rates are at meagre levels. With the rising costs and lower reimbursements, DME businesses are experiencing shrinking revenues. It has become a task to carry out a DME business and maintaining healthy margins has become a far-fetched dream.
“Reimbursements are tight for DME and this is greatly affecting the financial wellbeing of the business. With such shrinking margins, it is important to track all of the inventory and reimbursement,” said Jessica Parker, Sr.Healthcare Consultant at MedicalBillersandCoders.com
MBC’s Productive Steps in Regularizing Revenue Flow
A holistic outlook at the DME industry convincingly points out to reimbursements that are at ‘starvation level’. Various changing regulations and failure to abide by these have resulted in poor documentation and increased pressure. With an expert team of billers and coders, MBC has offered assistance to such DME releasing all of the blocked revenue and pushing them towards success. An analysis of the situation and knowledge of precise solutions applicable, allows the team in MBC to provide excellent services to their clients.
Our successful DME claim turnaround also includes a thorough follow up of rejected claims. Our medical billing services are equipped with resources to assess reasons for denials and ensure reimbursement by the payers. This has saved the most time consuming part of the billing process – post submission period. MBC services have proven significant in reducing the AR days for its DME clients and that has effectively contributed in an overall growth.
Most Common reasons for Denials
Over a period of time, MBC has analyzed few problem areas for the DME’s pertaining to denials of the claims submitted:
• The service was billed for more units than ideally allowed within a particular time period
• The service code on the claim necessitates a prior-authorization (PA) number.
• The service was billed for a date range, and not for a single date of service.
“It feels great when your efforts are acknowledged and your clients start seeing the difference in their billing process and of course the flowing revenue. MBC has no doubt been an indispensable source for the DME clients, driving them to more profits. Our team has been instrumental in reducing overheads and improving returns,” said Jessica, adding that – With changes in Medicare Fee Schedule in 2016, DME have suffered with poor payments and owing to the expertise, DME have flourished.
An absence of a strong knowledge of the coding system for DME has to a large extent been responsible for the lack of profitability. A glance at the challenges hovering over the DME industries’ makes it amply clear that a continuity of the given scenario may crop up further difficulties that would determine the financial health of the DME. The highlights of MBC services lie in the fact that their DME clients have been able to secure faster and timely payments with minimal losses.
An experience of over 16 years has made MBC one of the leading billing and coding service providers in US. Retrieving blocked revenue and overcoming revenue challenges is a priority for MBC in which it has achieved unparalleled success. Having a presence in all 50 states, and catering to more than 40 specialties, MBC has been able to relieve physicians of their billing woes across US, irrespective of the location and specialty. This has leveraged MBC services, making it one of the foremost.
Company Name: Medical Billers and Coders
Contact Person: Prerna Gupta, Media Relations
Address:4625 Morse RD., Suite 208
Country: United States