Today the rates of chronic diseases are seen growing every single day. In fact, the report of the National Cancer Institute which was done in the year 2018 stated that approximately 1.7 million people in the U.S. were infected with chronic diseases such as cancer. However, the paper also stated that chronic diseases like cancer rate will only accelerate with the following year to roughly about 70%. This growing trend of chronic diseases such as, multiple sclerosis, rheumatoid arthritis, and even cancer is said to be pushing the requirement for HME and DME products.
Also apart from chronic diseases, neurological disorders, such as epilepsy and Alzheimer’s and Parkinson’s diseases here also plays a vital role to drive the DME and HME product demand. According to the American Neurological Association survey which was carried out in the year 2017 it is seen that around 5.3 million people in the U.S. were undergoing Alzheimer’s and the number is still spreading.
Not forgetting the increasing geriatric population is one of the primary factors driving the growth of the U.S. Home Medical equipment (HME) and durable medical equipment (DME) market. In fact, a survey states that over 52 million people in the U.S. were aged 65 years and above and the number is predicted to increase to 95 million by 2050 as surveyed by the Population Reference Bureau in 2019, presenting a greater exposure to a chronic condition, diabetes, and another lifestyle chronic disorder. Hence geriatric population here also plays a vital role in the demand for the HME/ DME in the near future.
However, with all this demand, a healthcare provider requires the perfect DME/HME billing and coding team to not only ensure a seamless DME/HME billing process but an effective revenue generation. Yet with the present rising labor rates, it becomes very difficult for healthcare providers to achieve its goal as high labor costs make it difficult to create, train, and maintain the right billing and coding team. This is why today rather than spending an entire fortune on finding the perfect skilled billers and coders for seamless HME billing operations, healthcare practices prefer to outsource their billing operations.
Helping you with reduced operational costs and excluding unnecessary labor charges, outsourcing your HME billing give you an ample amount of time to concentrate on your core business strategies. Giving you complete control over your HME medical billing processes, outsourcing eliminates employee salaries, office infrastructure, purchasing, upgrading, and maintaining billing software, resulting in increased revenue.
Reducing your operational cost, these RCM organizations take complete care of turnover surges, complex authorization problems, backlogs, clams denial, etc. Resolving issues related to denial and a high volume of claims quickly, outsourcing your HME billing operation helps you with better process visibility through robust reporting, dedicated manager, etc. In fact, these RCM organizations have teams of experienced and skilled billers and certified coders who are not only proficient in different billing software like Brightree, Kareo and many more but also up to date with present industry mandates, saving your lot of time and money. Helping you to focus on your core work of patient care, outsourced HME billing not only ensures financial enhancement but also seamless billing and quick collection.