As a DME provider, to understand the market dynamics is critical for you! You will have to realize the essence that as an industry DME is a resilient industry even at this pandemic time, provided you have the right contingency plans ahead and take advantage of the opportunity that the market has on offer for you.
Important to share with you, the success story of a company that decided to focus more on exploring opportunities ahead with mergers and acquisitions across respiratory focussed DME companies. With quite a strong foothold has witnessed growth even in the third quarter of this year, especially in the PAP category.
Leaning on recurring rentals and resupplies, decreasing your backlog with new orders that can even cancel the non-emergency procedures and appointments cannot be allowed to happen! You must start to employ the right resources that can help you in enhancing your front and back-office processes optimizing your revenue cycle with superior DME billing efforts.
Your Management of Staff For a Streamlined DME Billing Performance
Finding a partner that can work as your dedicated extension, offers you a team of highly skilled experts that understand the mandates of the industry can be a huge benefit. With businesses again reviving, the Braff Group thinks that there will be a cautious approach all throughout the DME industry.
The general flow of high-value deals will see a contraction at least for the next three to six months. As social distancing becomes the new human way of living a life, tightening up on your credits while valuations are taking a hit will be extremely important.
Outsourcing your DME billing is a critical decision and can be a handy one if you are looking for a win-win situation in this dicey market! Finding someone that can help you survive with a tenacious approach as the market will see a relatively low volume deals with merger and acquisition activities being relatively smaller.
Reducing your Overall Operational Costs
THE CMS has already introduced several reforms with a pause on PA requirements with certain DMEPOS items and also pay for certain products will be relatively higher in the DME segment. At this point of time, finding a team that can help you optimize your chances of securing more money with specialized DME billing support can be an ideal proposition!
A quality RCM services company will add the right purpose to your growth initiatives. It will help in improving your cash flow, reduce your everyday operational expenses with a team that knows it all with front and back end DME billing with versatility across all major systems and experience of working with both federal and commercial insurance.
To conclude, the right partner can complement your DME billing initiatives, offer you the right assistance, deliver you a power-packed performance when it comes to improving your reimbursements even at this economic crunch with trust and consistency. Finding someone who can add value, provide references across the industry on how they work can be an excellent start!