Many HME Companies inadvertently focus on billing practices as the primary reason for their high days of sales outstanding (DSOs) but that’s not always the case.
Here are a few of the most common problems along with some practical solutions to help reduce your DSO’s.
Problem #1) Incomplete Documentation
Never deliver equipment or service to a patient without first making sure you have all required documentation completed from the clinician.
It seems reasonable that your first follow-up phone call or fax request to the doctor will give you desired completion, but more often than not they end up inundated and frustrated with the large amounts of requests.
The result? A long, outstanding repayment that an HME can’t submit to payors for reimbursement (but that the HME has already fulfilled) because required documentation is incomplete.
Implementing an E-prescribing software that is built with rules specific to the type of equipment and payor requirements in place to support the HME referral process. For receiving orders from a referral source, encourage the physician to utilize an E-prescribing software that will ensure they generate and complete all the documentation initially. Eliminating interruptions for requests of corrections or missing information.
Problem #2) Cumbersome Requests
When providing HME equipment and services, it’s important to simplify and standardize the referral and documentation process.
Overwhelming physicians with multiple requests for the same patient regarding the same order is very frustrating, and many HME billing systems do just that.
It’s common for a billing system to automate documentation requests. If a physician only signs supporting documents once a week, they end up with multiple copies of the same request awaiting their signature.
Over time, the constant, repetitive documentation requests from an HME to the physician can potentially strain the relationship and ultimately result in an even greater percentage of unsigned documentation for the HME.
Problem #3) Sales people as paper chasers
Physicians do not get paid in any capacity to fill out HME required documentation. HME companies should be cautious to send sales people o chase documentation in person in the physician’s office.
Most people dislike pestering from a persistent salesperson. This is especially true for physicians! The moment they see a salesperson in their medical office, they label the unexpected drop-in as a distraction and interruption of their time with patients.
The Solution) e-prescribing software
E-prescribing software, is the solution to solve both the HME and physician pain points.
It addresses the documentation problems for HMEs to properly bill, and it assists the physician in efficiently and accurately documenting on the first attempt.
Utilizing E-prescribing software like HealthSplash, HME companies have noticed a reduction in the number of days to collect signed documentation from an average of 7-10 days down to 1-2 days(In some cases, just minutes, depending on the complexity).That’s an average of gaining back a full business week of the days to sales outstanding on the billing end!
The software has built-in rules unique to each type of HME equipment, which addresses any uncertainty the physician may have with what exactly to document while simultaneously ensuring an HME gathers all required documentation to submit for payment.
E-prescribing software allows salespeople to go back to selling and offering great service and products to the physician rather than frustrating them with stacks of paperwork.
Tracking, collecting, updating, and signing documentation all becomes faster, easier and streamlined with E-prescribing software. Physicians and HME companies both benefit tremendously from this technology solution.
For best results HME companies should encourage physicians to utilize an E-prescribing software to help eliminate interruptions for requests for missing information. Standardized software will give physicians an easy-to-use application that promotes same-day signature on all required documents.
Want to learn more about how HealthSplash can help your HME company reduce its DSO’s? Click here to book a demo.