Reasons for Revenue Leakages in Durable Medical Equipment (Dme) Billing

1. REASONS FOR REVENUE LEAKAGES IN DURABLE MEDICAL EQUIPMENT (DME) BILLING http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537

2. REASONS FOR REVENUE LEAKAGES IN DURABLE MEDICAL EQUIPMENT (DME) BILLING http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537

3. REASONS FOR REVENUE LEAKAGES IN DURABLE MEDICAL EQUIPMENT (DME) BILLING Top reasons why revenue leakages happen in DME billing and coding: Denial of claims: 20% of all revenue loss is due to denial of claims. Claims can majorly be denied if:  Demographic Information of the patient is incomplete.  Information is missing or invalid.  Medical Necessity of DME usage is not clearly mentioned.  CPT code, Modifier, PIN, or NPI is incorrect or missing.  Duplicate claim or service is found. Inaccurate codes: Another common reason for revenue leakage is incorrect coding of accessories or equipment. Only when the DME biller identifies the right HCPCS level II codes and sends over the claim with authorization paperwork, the insurance company will pay the claim. Non-compliance: All the guidelines laid down by the Health Insurance Portability and Accountability Act (HIPAA) and the Office of the Inspector General (OIG) must be followed to the last bit in order to prevent complete rejection of your claims and thereby leakages in revenue. http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537

4. REASONS FOR REVENUE LEAKAGES IN DURABLE MEDICAL EQUIPMENT (DME) BILLING Lack of real-time monitoring: There’s no substitute to correct and real-time data. If that’s not available and there are discrepancies in your data, be sure of major revenue leakages. Why? Because without real-time data, decisions will not be backed up by accurate data. For example, if the insurance policy does not cover a specific treatment, this can be communicated to the patient and the provider beforehand so that there are no issues in the DME billing. Incorrect data: Inaccurate data entry in the database can give rise to mismanagement of funds and thereby revenue leakage. Until the data is meticulously collected and analyzed by experts, error-free billing is a distant dream. Failure to Follow-up: Failure to follow-up regularly can sometimes lead to non-payment of claims. If there’s a delay or the claims are outrightly rejected, DME billers need to follow up or resubmit the claims to avoid revenue leakage. Lack of expert guidance: By now you know that DME billing is an exhaustive process and must not be handled without expert guidance. Revenue leakages mainly happen when non-professionals venture into it and do not adopt DME billing outsourcing. Billing professionals can help you avoid errors, identify loopholes, get payments on time, manage denials and rejections of claims, and streamline the entire billing process so that you receive the payments you deserve. http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537

5. About 24/7 Medical Billing Services: 24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%. Call us today at 888-502-0537 to know more on how we can help boost profitability for your practice. Contact us - 24/7 Medical Billing Services, 16192 Coastal Hwy, Lewes, DE – 19958 Tel: + 1 -888-502-0537 Email - info@247medicalbillingservices.com http://www.247medicalbillingservices.com; Tel: + 1 -888-502-0537