A bid program for Durable Medical Equipment(DME)?
Recently the Medicare Payment Advisory Committee (MedPAC) made payment policy recommendations for non-competitively bid Durable Medical Equipment. And if internal reports are to be believed, MedPAC plans to recommend that CMS shift more products away from the excessive fee schedule to bid rates. Also, it plans to call for immediate reduced payment rates for certain non-CBP products, while CMS works on incorporating them into the CBP. Alternatively, there are plans to recommend a policy option…
Accounts Receivable (AR) is a key parameter in the financial division of every healthcare facility. It is defined as the money owed by the healthcare facility for the services rendered to the patients. Being a vital aspect of the revenue cycle management, the cash flow of the healthcare facility is directly proportional to the managing of AR. AR is calculated as: Total charges for last 6 months/number of days in last 6 months = average…
Getting to know the basics of denial management is vital for successfully running a medical practice and Durable medical equipment (DME) facility. Facilities that are showing positive bottom-line numbers at the end of each month will generally have denial rates below 2%-3%. Also, nowadays payers are embarking system software’s so they can identify different payment procedures that apply the contract requirements. For some insurers, it seems that the procedure is skewed to effect denial, whenever…
Align your DME Billing and Coding Priorities with Experts and Experience a Profitable Income Cycle
Managing a Durable Medical Equipment (DME) facility is without a doubt a tough task. Right from providing patients the correct medical gear to overlooking the revenue management cycle, insurance reimbursements, along with medical billing and coding requires the help of experienced experts, be it in-house or outsourced. As a DME medical billing service provider, we know that the income cycle administration for practices has turned out to be more entangled than before. With regularly changing…
Digging Deep in DME coding: External Elements that streamline your Medical Billing
Medical billing and coding from the outside may look like an easy on the run job, but it has much more intricacies that what you can imagine. The Durable Medical Equipment charges, which have different ‘codifications’, altogether are is making life worse for DME owners to sustain a streamlined revenue cycle, as most of the claims are being denied or delayed due to incorrect coding or billing information. The moot question that arises here is…