Improper payment has cost many healthcare practices a lot of problems. According to a report, improper payments drain out more than $ 3.2 billion annually from Medicare Trust Fund. In fact, the DME billing domain has an improper payment rate of more than 39.9% stated in a recent survey.
So now the question is how you can improve your reimbursement and reduces the improper payment rate?
As a professional, the provider’s first step is to find the problems and cause of the delayed reimbursement. Keeping this in mind, here are a few common reasons that must be in check if you want to avoid improper payments-
- Documentation troubles- every year more than 2.6 billion of the total 3.2 billion is been wasted of the Medicare Trust Fund due to documentation errors. Errors can be various like – service billed for more units than those allowed within a specific time period, wrong provider’s name, incomplete information, lack of the physician’s signature and more are all signs of documentation errors.
- Use of wrong modifiers – incorrect modifiers contributed to a vast area of misaligned codes and inappropriate payment.
- Coding errors – coding errors are foreseeable when you are not updated with recent codes or don’t have an eye for details. Using incorrect codes, medical documentation carrying a different code other than the one billed in fact are a few common coding errors.
Understanding the root cause of improper payment is very necessary if you are looking for a seamless DME billing operation. In fact here are a few tips to over improper payments:
Solution for improving your payments rate:
Accurate verification of information is vital as it not only helps in patient care management but also aids in faster reimbursement. Understanding the complex industry mandates, and regulation also plays a very important part in improving the reimbursement rate.
In fact, Sunknowledge Services Inc is one such RCM organization known for improving payments for many leading names in the industry for ages now.
Sunknowledge – a better solution for DME billing operation:
Checking the correct information during documentation and cross checking for all the data, Sunknowledge experts have a track record of a 99.9 % accuracy rate in the DME coding and billing process for years now. Delivering state of the art solution, Sunknowledge experts not only understand the recent industry mandates but with updated billing regulations helps in keeping claim denials at bay. Using the right codes and right modifiers to confirm Sunknowledge help you with the proper documentation needed for reimbursement
In fact, Sunknowledge experts have been reducing the chances of prolonging accounts receivable days and 80 % reduction in operation expenses for many.
Catering to the different billing requirements, Sunknowledge experts are known for improving the bottom line for many.
So what are you waiting for? Call Sunknowledge Services Inc right now and streamline your DME billing process significantly, as Sunknowledge is known for improving collections and increasing your revenues in no time.