A large DME supplier based in Illinois saw their revenue dip during the recent staffing crisis. Turnover, staffing and training costs and frequent role changes led to revenue loss. Collections got out of hand and it was difficult to rein in claim denials. After partnering with SolvEdge they were able to improve collections by 30% and recover money that was stuck in AR for more than 210+ days.
The DME supplies company was facing a high percentage of denials due to prior authorization errors. DME products and services require prior authorization to be covered by insurers. But the PA process for DME billing is incredibly complex.
Through our PA system we were able to automate the prior authorization process and reduce authorization related denials to a large extent.
One of the top challenges faced by the company was pending AR that was over 210 days old. Our AR analysis engine segmented AR information into different categories based on financial risk and dollar value.
Our proactive approach to reduce high-value AR from slipping through the cracks. We were able to recoup lost revenue and lower write-off ratio.
Transitioning to the next level of growth is challenging. Through our technology driven revenue cycle solutions we enable fast-growth companies to scale without growing pains. The DME supplier was finding it difficult to scale with their existing infrastructure and resources.
We supplemented their RCM efforts with our expert teams and suite of revenue cycle automation products.
SolvEdge offers revenue cycle solutions that are tailored to the needs of DME businesses. We tailor our services and technology to meet the unique business requirements of our clients. We created context-driven coding workflows and advanced data analytics to improve their financial performance.
Lack of standardized processes resulted in non-compliance with industry standards. With upgraded processes, technology and analytics we were able to achieve operational improvements. We were able to analyze non-compliance issues at the granular level and ensured adherence with industry mandated standards.
Our claim management platforms set the foundation for the DME supplier’s success. Strengthening their workflows through the right mix of technology and expertise resulted in achieving industry benchmarks within four months of joining hands with us.
DME billing is complicated and places an operational strain on businesses. With 20 years of experience the knowledge we have within our walls can transform the bottomline of DME businesses. Explore our solutions.