Page 22 - HME Business, March 2020

DIY RCM
for HME
Not every provider is at
a point where they can outsource their revenue cycle management, but that doesn’t mean they can afford to skip RCM entirely. What tools do providers have on-hand to build their own RCM solutions?
BTy Holly J. Wagner
here are plenty of companies waiting to take on your revenue cycle management (RCM) for a fee, and that can let you offload a lot of headaches. But if you think that’s too expensive, or just prefer to do it in house, many of the tools are already built into the software that runs your business.
“More than ever, HME providers need software with the right infrastructure and abilities. The
best software enables the user to create billing requirements, design workflows that direct accu- rate processing, measure outcomes including human performance, and qualify revenue prior to billing,” says HME Software Sales Consultant, Gail Turner, of TIMS Software by Computers Unlimited. “Additionally, providers can leverage the integration capabilities of their systems. Less manual labor and more automation is key for a reason — it’s efficient and provides needed insights, lowering costs and allowing for informed, data-driven business decisions.”
Your files and computers are brimming with information about your patients, referrers, suppliers, inventory and market. With the right tools and someone focused on using them, your software should be able to see all of that information and generate a variety of reports that can help you find and smooth out the bumps that may be slowing your workflow and cash flow.
Effective reporting can’t be done willy-nilly. Someone on staff, most likely in your accounting department, should be monitoring trends within and outside of your business over the long term.
20 HMEBusiness | March 2020 | hme-business.com
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