Category sidebar: Billing systems and services
By John Andrews
Updated Fri April 26, 2013
NOW OR NEVER
“Boot up”: The financial takeaways of Medicare competitive bidding and RAC audits are forcing providers to become more efficient in their businesses. The industry has reached a point where it needs to fully use the power of information technology to track every dollar and asset in HME operations to maintain financial stability.
MONEY CAPTURE
Take the intake: Electronic systems have the capability to automatically determine each client's eligibility and amount of co-pays and deductibles due. Provider collection of these valuable dollars has historically been delinquent, but now the opportunity is there—front and center. These collections can add up fast and greatly improve cash flow.
OPTIMIZE OPERATIONS
Get rolling: While many HME providers have automated one function, they need to look at turning their businesses into an electronic assembly line. Having a system that coordinates every process ensures all tasks can be visualized and handled so that nothing falls through the proverbial cracks.
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