Credentialing For DME Companies

1. Credentialing For DME Companies Medical Billers and Coders

2. Durable Medical Equipment (DME) is the equipment that includes oxygen supplies, wheelchairs, iron lungs, catheters, etc. As you are starting a Durable Medical Equipment (DME) company, be prepared with time on hand, money, endurance, and determination; as it ultimately boils down to being paid for the products sold by your company. This means receiving DME bills from clients (patients/healthcare providers) and accepting the insurance, billing the insurance, and finally receiving payments for the DME billing from the insurance provider- is called Credentialing For DME Companies.

3. DME business also referred to as Home Medical Equipment business is replete with potholes along the way which need to be cleared. One of them is ‘Provider Credentialing.’ Credentialing simply denotes verification. It’s also known as DME credentialing, DME medical credentialing, DME provider enrollment, insurance credentialing, or getting on insurance panels. These terms imply that the patient is going to pay through insurance and your company is “In-Network” with the insurance companies. And, as you go on to be accepted as a provider, receiving payments of DME billing through this process is known as an “In-Network” provider. It also implies acknowledging more clients along with on-time and accurate payments. There are a number of companies through which a DME company can/should be credentialed; government organizations like Medicare, Medicaid, or Tricare, and other big players in the market such as Aetna, BCBS, UHC, Cigna, etc. Smaller companies could be targeted too as they have immense potential with respect to a greater number of clients and comprise lesser competition.

4. DME Credentialing Process: • Obtain an office space. • Acquire a business bank account. • Obtain a business organization and a set location. • Organize all documents: Information on license, background, insurance, resume. Also, double-check that the application has been signed, dated, and holds a legal document- Unique Federal Tax ID#.

5. A DME provider credentialing usually takes around 90 to 120 business days for 8-12 carriers. This is the stage for approval and denial. Post credentialing, you move towards ‘Contracting’ which states your eligibility to be in the network of insurance providers. Here, the insurance company sends a contract to be read and signed by you and the doorway to the network occurs in the next 30-60 days. Note: Centers of Medicare and Medicaid Services (CMS) approved 10 national accreditation organizations that will accredit suppliers of durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS) as meeting new quality standards under Medicare Part B. In order to enroll or maintain Medicare billing privileges, all DMEPOS suppliers must comply with the Medicare program’s supplier.

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